The Indus Network, a powerful worldwide network of entrepreneurs, on Wednesday condemned the action of Tamil Nadu police, which took the founder of Stayzilla into custody earlier today.
At a press conference in Chennai, R Narayanan, the president of TiE- Chennai, said: The recent arrest of Yogesh, founder of Stayzilla, perfectly shows the stiff resistance that the ecosystem and the players are displaying when it comes to “change”…We have a situation which has reared its ugly head and promises to send Tamil Nadu back to the medieval periods.
Yogendra Vasupal, the co-founder of travel startup Stayzilla, was taken into police custody yesterday based on a complaint of a vendor who said that the company owed him money to the tune of Rs 1.5 crore.
Vasupal, in a Medium post, however, said that he has been at the receiving end of threats and intimidation from various parties.
Update: 15 March 201, 4.57 PM (IST): This post has been edited for typos.