Industry bodies moots need to lay guidelines on business closures

Demand comes in backdrop of recent issues related to online hotel room booking start up Stayzilla

Leaders of various industry bodies, including CII Start Up Council Chairman Kris Gopalakrishnan, Nasscom Executive Council Member Ravi Gururaj, on Wednesday said there was an immediate need to lay guidelines on business closures. They also urged the Tamil Nadu government to intervene and support an early hearing of the bail plea filed by Yogendra Vasupal, the founder and CEO of online hotel room booking start-up Stayzilla, according to a joint statement published in a website created to support the jailed start-up founder.
 
The statement explained that start-ups have become the growth engine of innovation for India and the Prime