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In a lawsuit alleging data theft, the Delhi High Court has summoned the directors of real estate analytics firm Bhugol Analytics Private Limited (CRE Matrix) to respond to a plea by its rival, PE Analytics Limited (PropEquity). PropEquity claims that CRE Matrix stole its primary real estate data and unethically hired former employees in violation of their non-compete clauses. The firm, which has also filed a police complaint with the Gurugram cyber crime branch, is seeking a permanent injunction and INR 8 crore in damages for the alleged intellectual property theft.
The Delhi High Court has directed real estate analytics firm Bhugol Analytics Private Limited, which trades as CRE Matrix, to submit a written statement in response to a plea alleging data theft. The legal action was initiated by its competitor, PE Analytics Limited, known as PropEquity. Advertisement
The court's intervention comes after PropEquity claimed that a report published by CRE Matrix, titled "India Housing Report," contained data with striking similarities to its own proprietary information. The plaintiff noted that these similarities were particularly suspicious as they pertained to a period when the defendant was not yet operational in that specific domain.
In its plea, PropEquity further accused CRE Matrix of unethically hiring former employees who held key positions. According to the plaintiff, these employees violated their non-compete clauses and allegedly colluded with the rival firm to compromise confidential data.
Justice Manmeet PS Arora of the Delhi High Court has issued summons to Bhugol Analytics, its directors, and several of its employees. The defendants have been given a period of time to file their written statements in court. In the ongoing legal battle, PropEquity is seeking a permanent injunction against the rival firm and monetary damages amounting to INR 8 crore.
In addition to the civil case, PropEquity has also filed a police complaint with the cyber crime branch in Gurugram, which has initiated an investigation into the matter. The case underscores the growing importance of data security and intellectual property rights within the competitive real estate analytics industry.
Source: PTI
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