Defunct startup Stayzilla faces insolvency from NCLT

Online homestay aggregator Stayzilla which was shut in February has been ordered by the Chennai bench of the National Company Law Tribunal (NCLT) to initiate the insolvency process. The petition was filed by one of Stayzilla's creditors Jigsaw Advertising claiming that the startup had not paid their dues. Founded in 2005, the startup offered accommodations in lodges and guesthouses.