Bennett, Coleman & Co. Ltd, Times Group’s holding company has sent a legal notice to Locon Solutions Pvt Ltd., the parent company of of Housing.com for alleged defamation.
The notice has been sent post the incident where Rahul Yadav had sent a mail to the Housing.com’s employees stating that the group is trying to “malign” Housing.com as it competes with the group owned real estate portal Magicbricks, further he also added that Magicbricks was raising funds.
The notice names Locon Solutions (the parent company of Housing.com), and its board members, including Nikesh Arora, vice chairman of Softbank, Ashish Gupta of Helion and Nexus Venture Partners’ co-founder Suvir Sujan. It also names two of its cofounders i.e Rahul Yadav (CEO) and Advitiya Sharma (COO. The notice is also marked to Karthee Madasamy, managing director of Qualcomm Ventures, which is an early stage investor in Housing.com.
In the notice, BCCL has asked Housing.com CEO Rahul Yadav and its directors to issue an unconditional apology, and further, it also seeks INR 100 Cr. ($16 million) in damages. The legal notice states if its demands are not met, BCCL will initiate legal proceedings.
BCCL’s director (legal), Amit Rai, has confirmed to VCCircle about the notice being sent.
The BCCL notice says: