Insta
Bengaluru: IIT Alumni Founded Home Rental Service Homigo Goes Bankrupt; Tenants Asked To Vacate Overnight
Representative Image (Ramesh Pathania/Mint via Getty Images)
Home rental service Homigo which was founded by IIT Kanpur alumni has gone bankrupt leading to tenants being asked to vacate their homes overnight, media reports have claimed.
The company has reportedly failed to pay rent to the home owners which resulted in this eviction notice. Under its operating model, Homigo used to lease apartments from the owners and sub-lease them either on a sharing or standalone basis to regular tenants.
Reports claim that while the company is now not returning calls, some tenants have received mails that it would be unavailable for two months. Homigo currently has with itself security deposits and lease amounts which run into lakhs.
Most of the tenants have also placed security deposits running up to Rs 50,000 with Homigo.
Following this bankruptcy, tenants numbering about 400 have formed a group named “Action against Homigo” and are mulling legal action.
The woes extend to company’s employees as people like security guards, furniture suppliers among others too have not been paid by the company.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
