NCLAT dismisses Stayzilla appeal against insolvency process

Stayzilla accused Jigsaw Solutions of creating fake invoices to raise the bills

The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal by Stayzilla, a home-stay start-up, against the insolvency process order by NCLT.

A bench comprising justice S J Mukhopadhaya, chairperson, justice AIS Cheema, member (judicial) and Balvinder Singh, member (technical) has said it did not found any merit in the appeal and ordered dismissal of the same.

Earlier, arguing the case a counsel for Yogendra Vasupal, one of the founders of Stayzilla, argued that there was existence of a dispute and therefore, the application under Section 9 of the 'I&B Code' was not maintainable.

However, NCLAT bench observed that from the enclosure