Stayzilla founder Yogendra Vasupal gets bail, finally

Asked to deposit Rs 40 lakh in a week; relief comes after two previous bail pleas were rejected

The Madras High Court has granted conditional bail to Yogendra Vasupal, one of the founders of online accommodation aggregator Stayzilla, almost four weeks after he was arrested by the police on a complaint filed by one of his company's vendors, Jigsaw Advertising and Solutions.

Vasupal has been asked to deposit Rs 40 lakh with the Magistrate Court in a week's time. The relief comes from the High Court after his bail application was dismissed by a Special Metropolitan Court and a Principal Sessions Court.

The Court has earlier suggested both the parties to go for mediation, since it