Chennai:Yogendra Vasupal, cofounder of beleagured home stay startup Stayzilla, has filed an appeal with National Company Law Appellate Tribunal, after insolvency proceedings were initiated against it by the National Company Law Tribunal, Chennai bench, by advertising agency Jigsaw Solutions. Challenging the NCLT’s order, Stayzilla’s petition said, “It is evident that the order has been passed mechanically, without any application of mind to the facts of the case.” The advertising agency had filed a petition requesting for initiation of corporate insolvency as an operational creditor under section 9 of the Insolvency & Bankruptcy Code 2016 against Inasra Technologies (the company which owns Stayzilla…
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