1 year ago
PropEquity Sues CRE Matrix Over Data Theft Allegations
Imagine two companies that collect and sell information about houses and real estate.
One company, PropEquity, says that its competitor, CRE Matrix, stole their special data.
PropEquity says they've spent a lot of money gathering this data and that CRE Matrix shouldn't have it.
They're suing CRE Matrix in court to stop them and get money.
CRE Matrix says they didn't do anything wrong and that they are in the business of providing transparent data.
PropEquity sued CRE Matrix for alleged data theft of primary real estate data.
The lawsuit seeks a permanent injunction and damages of Rs 8 crore or more.
PropEquity claims CRE Matrix wasn't operating in primary residential data from 2021-2024.
PropEquity has invested over Rs 200 crore in primary data collection.
CRE Matrix denies the allegations, calling the actions malicious and ludicrous.
- Who
- PropEquity is suing CRE Matrix.
- What
- PropEquity sued CRE Matrix for alleged data theft.
- Where
- Delhi High Court.
- When
- The lawsuit was filed recently.
- Why
- PropEquity alleges CRE Matrix stole its primary real estate data.
PropEquity's View
CRE Matrix's View
Data Theft Allegation
PropEquity's View
CRE Matrix stole primary real estate data.
CRE Matrix's View
CRE Matrix denies stealing any data.
Damages Sought vs Data Transparency
PropEquity's View
PropEquity seeks damages for data theft.
CRE Matrix's View
CRE Matrix says it operates with data transparency.
Key facts
- Plaintiff
- PropEquity (PE Analytics)
- Defendant
- CRE Matrix
- Allegation
- Data theft of primary real estate data
- Sought Damages
- Rs 8 crore or more
- PropEquity Investment
- Over Rs 200 crore in primary data collection
- CRE Matrix response
- Denied the charges, calling them malicious
Quotes
CRE Matrix spokesperson
A representative from CRE Matrix
“Saddened to see such ludicrous and malicious actions by competitor.”
financialexpress.com
“We are in business of data transparency and we have been operating in residential real estate analytics space since year 2018.”
financialexpress.com
