Stayzilla CEO says that this act is biased against companies and its important to be proactively litigious when they find any issues with vendors.
The National Company Law Tribunal (NCLT), Chennai has ordered online homestay startup Stayzilla to become insolvent and pay the outstanding dues to JigSaw Advertising and Solutions. It was hearing the insolvency petition filed against Insara Technologies, the parent company of Stayzilla, that was filed by its vendor JigSaw.
After both sides made their arguments, the Tribunal has observed that based on the facts and circumstances of the case and the submissions made by both the counsels, it is established that Stayzilla has defaulted i…
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