PropTech Rivalry: CRE Matrix Denies PropEquity's Data Theft Allegations

CRE Matrix, a real estate data analytics firm, has refuted PropEquity's claims of data theft, describing the allegations as malicious and false. The legal battle, unfolding in the proptech sector, has seen CRE Matrix accused of lifting data from PropEquity. The Delhi High Court has demanded a response.

The proptech sector has been shaken by a legal clash between two key players, CRE Matrix and PropEquity. The former, a Mumbai-based data analytics firm, is accused of stealing data from PropEquity, a well-established Gurugram-based platform, sparking a significant court battle.

CRE Matrix has vehemently denied these charges, labeling them as false and malicious. The company asserts that the accusations are baseless and meant to tarnish its reputation. CRE Matrix plans to take legal action against PropEquity, claiming the latter is attempting to stifle its growth through litigation.

The Delhi High Court has sought a response from CRE Matrix after Justice Manmeet PS Arora issued summons to the company's directors and employees. The proptech sector is closely watching this case, seen as a reflection of the competitive landscape within the rapidly evolving industry.

(With inputs from agencies.)