In September 2017, the National Company Law Tribunal (NCLT) Chennai ordered Stayzilla to become insolvent and pay the outstanding dues to JigSaw.
In a blow to homestay aggregator Stayzilla, the Supreme Court has dismissed the appeal filed by co-founder Yogendra Vasupal challenging the insolvency proceedings ordered by the National Company Law Tribunal.
On September 18, 2017, the National Company Law Tribunal (NCLT) Chennai, Stayzilla to become insolvent and pay the outstanding dues to the tune of Rs 1.7 crore to JigSaw Advertising and Solutions. The Tribunal had observed that based on the facts and circumstances of the case and the submissions made by both the counsels, Stayzill…
Read the full article at: https://www.thenewsminute.com/article/supreme-court-dismisses-stayzilla-s-appeal-against-insolvency-co-continue-under-ibc-78316