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Stayzilla case: Will criminal cases against failing startups be a norm?

Nasscom emphasised on the need for a proper legal framework for startups to address business troubles. Any actions that go beyond the provisions of the law and create undue fear and harassment would raise the insecurity for startup founders and raise the cost of failure in an unacceptable way. Startup should not wind up leaving employees, vendors and other stakeholders in the lurch. There is a cost to shutting down just as there is a cost to starting up. Liabilities need to be taken into account and there should be planning with stakeholders and vendors.

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