The game of Character Assassination
— Posted by family and friends of Yogendra Vasupal
It has been 9 days since Yogi’s arrest and still no sign of his release. His family is struggling and friends are worried. Divergence between truth and power here is allowing questions and discussions to pan out leading to further insecurities for both parties.
Every question has an answer which leads to another question and it’s become never ending. Pressure on our family through character assassination ‘maybe’ the intent to extort in Yogi’s absence. Best we can do is put necessary facts out in the open.
Clarifications to false siphoning claims — Related party transactions
Stayzilla started with seed fund from family and friends who are also shareholders in the company. Some facts about Yogi and Sachit that need to come out in the open —
- Salaries drawn by Yogi (Rs.2,01,523/- gross per month) and Sachit (Rs.2,17,789/-)in spite of being the CEO and CFO respectively are much lesser than most of Stayzilla’s department heads who they hired personally.
2. Not a single share of Yogi and Sachit was sold by them till date despite repeated offers from investors and pressure from family members.
3. Unfortunately, banks could only provide corporate credit cards in the names of individuals and not in the name of the company. The same were taken in the name of promoters for an online biz like ours to make online purchases of tools and softwares like GITHUB, AWS, JIRA etc.,
4. Before such grants of corporate credit cards from banks in the past, our online payments for Servers etc., were made using Yogi’s Mother’s Amex card that still continues to be the registered card with our server company till date.
5. The monthly payout to Yogi’s dad that was ‘exposed’ and categorized as siphoning (cheap trick), which also got wrongly picked by some media without verification. It is actually the monthly rental under a Rental Agreement for Yogi’s dad’s apartment that is Stayzilla’s registered office in R.A Puram, under Inasra Technologies Pvt Ltd since 2013 till date. This was not formalized in the initial years of occupation since 2007 but was done in 2013 after investments were received.
Even during formalization, the rent was kept low at Rs.55000 monthly rental for his dad’s 1800 sq ft in comparison to Rs.90000 monthly rental for a space of 2000 Sqft that was being used as an extended office space in the apartment complex from an unrelated party.
Our point is that there’s a record for every such related party transaction that one is trying to dig up on Yogi and Sachit. Humbly request everyone to verify facts before propagating false information. We will provide backing proof for everything to concerned parties. #helpyogi #ReleaseYogiNow so facts are known.
Yogi’s Plan for reboot before shutting down operations
As per standard operating procedure of most companies prior to a shut down, all board members resign and a new decision making board is put in place during shut downs. But Yogi decided to own up to all the existing ‘good, bad and ugly’ during the process of “reboot” and thus remained on the board. It was a shut down of operations only, on 24th Feb 2017 which was a step taken in the best interest of Stayzilla employees, business partners and investors.
All Yogi wanted was a complete restructuring (reboot) of Stayzilla and had begun discussions with prospects in the accommodation and tourism space. He even attended a travel summit in Delhi in the 2nd week of March to begin his discussions on the reboot. He was in the process of liquidation of assets that were not generating revenue and focus on vehicles which had a good opportunity in the current system. Company was also in the parallel process of collection from debtors and other pay offs.
Company is still ACTIVE. So criminalizing a person who was solely and earnestly working towards these closures has blocked the path for everyone else for Aditya’s selfish reasons. It is not only hurtful to Stayzilla’s existing partners but also demoralizing for entrepreneurs across.
Delay in getting Bail
The bail process is delayed. There’s a new challenge every few hours. Yogi’s family is struggling, running pillar to post to see to it that this sees the day of light at the earliest so he can be back to his family and kids.
Yogi’s family, friends, ex-employees, management and board fully support him and stand strong with him. We must remember — The only one question here is :
“HOW did a civil matter become Criminal?”, and if it is done to Yogi — it can be done to any entrepreneur(any one infact). This is a disputed invoice with the vendor for non-performance of services under dispute with the company.
Crime is what Aditya did to our families — life threat to our kids, rape threat and false brothel case threat (refer to Yogi’s previous blog for the call record) and we are still living in tremendous fear, anxiety & insecurity (wish i could truly translate how it is to be in our shoes exactly). Our plea and cry to all those reading — Press, Entrepreneurs, Investors and Government officials is :
Get Yogi out first and LET THE TRUTH PREVAIL!!!