Blow for Stayzilla's Vasupal as SC dismisses plea against insolvency order

According to information published on the Supreme Court website, the civil appeal filed against Jigsaw by Vasupal and the IRP appointed by NCLT had been "disposed as dismissed on March 21, 2018

A division bench of the Supreme Court has dismissed the civil appeal of Yogendra Vasupal, the founder of online accommodation aggregator Stayzilla, challenging insolvency proceedings ordered earlier by the National Company Law Tribunal (NCLT). The case relates to a payment-related dispute between Vasupal and Stayzilla’s vendor Jigsaw Solutions.

NCLT had earlier issued an order initiating a Corporate Insolvency Resolution Process (CIRP) and appointed an Insolvency Resolution Professional (IRP). And, the National Company Law Appellate Trinunal (NCLAT) had dismissed Stayzilla’s appeal against this.

According to information published on the Supreme Court website, the civil appeal filed against Jigsaw by Vasupal and the IRP