1 year ago
CRE Matrix Denies Data Theft Allegations by PropEquity
CRE Matrix, a real estate analytics firm, is accused of stealing data by PropEquity, another firm in Delhi.
PropEquity says CRE Matrix copied information in its reports.
They've sued CRE Matrix, asking for money and to stop them from using the data.
CRE Matrix denies doing anything wrong, saying PropEquity is just trying to slow them down because they are doing better.
A court has told CRE Matrix to respond to the claims.
CRE Matrix says it will fight back in court and claims PropEquity has tried to hurt them before by offering mergers and bothering their workers and investors.
CRE Matrix refutes data theft allegations made by PropEquity.
PropEquity, a Delhi-based firm, alleges data similarities in CRE Matrix's reports.
PropEquity has moved the Delhi High Court seeking injunction and damages.
The Delhi High Court issued summons to CRE Matrix and its directors.
CRE Matrix plans to pursue legal remedies and accuses PropEquity of prior attempts to impede progress.
- Who
- CRE Matrix and PropEquity are the involved companies, with PropEquity bringing the allegations.
- What
- CRE Matrix is refuting allegations of data theft.
- Where
- The allegations and legal proceedings are in Delhi, India.
- When
- The Delhi High Court issued summons on July 24, with a hearing set for September 19.
- Why
- PropEquity alleges data theft, while CRE Matrix denies the claims and says it's an attempt to hinder their business.
PropEquity's Allegations
CRE Matrix's Response
Data Theft
PropEquity's Allegations
CRE Matrix stole data and reported similar figures in its reports.
CRE Matrix's Response
CRE Matrix denies any wrongdoing.
Legal Action
PropEquity's Allegations
Seeks a permanent injunction and damages.
CRE Matrix's Response
CRE Matrix is prepared to pursue appropriate legal remedies.
Key facts
- Accuser
- PropEquity (PE Analytics Limited)
- Accused
- CRE Matrix (Bhugol Analytics Private Limited)
- Allegation
- Data theft and identical figures
- Plaintiff's Demand
- Permanent injunction and Rs 8 crore damages
- Court
- Delhi High Court
- Next Hearing
- September 19
Quotes
CRE Matrix
A real estate analytics firm
“We categorically deny any wrongdoing. These repeated attempts to weaponise the legal process against us only highlight the growing insecurity of a legacy player unable to keep pace with innovation and client expectations.”
m.rediff.com
“We are actively engaged with our lawyers to respond to the false and malicious allegations set out by PE Analytics, including but not limited to issuing a cease and desist notice to them.”
m.rediff.com
