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PropEquity sues CRE Matrix for alleged data theft, Delhi HC issues summons
PropEquity has sought a permanent injunction and damages of Rs 8 crore on account of the alleged data theft.
A single-judge bench of Justice Manmeet PS Arora of the Delhi High Court issued summons to Bhugol Analytics Private Limited (trading as CRE Matrix), its directors and some employees, in an order dated July 24, released on Wednesday.
The court granted time to the defendants to file their written statements and posted the matter for hearing on September 19.
PropEquity, operated by PE Analytics Limited, alleged glaring similarities and almost identical figures in the primary residential data segment reported by CRE Matrix in its 'India Housing Report' published in May 2025.
The firm also said CRE Matrix was not operating in the domain of primary residential data during 2021–24, the period for which the figures were released in its May 2025 report.
It added that CRE Matrix acted by unethically soliciting the plaintiff's former employees, who had held important positions but resigned, violating non-compete clauses and joining the rival company.
'They colluded with the defendant and compromised the proprietary primary residential data of the plaintiff,' PropEquity said in its plea before the Delhi High Court.
The firm added that it has also filed police complaints with the cyber crime branch in Gurugram, and the police has initiated an investigation.
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