Quickdel Logistics, which runs operations under the Gojavas brand, has sent a Rs 300-crore legal notice to Jasper Infotech, the parent company of e-commerce platform Snapdeal, and its founders Kunal Bahl and Rohit Bansal.
The notice accuses the founders and the company of criminal breach of trust and siphoning off money from GoJavas to Vulcan Express, the in-house logistics firm of Snapdeal.
“Snapdeal stopped doing business with GoJavas for the benefit of Vulcan and stole confidential business information such as data on employees and service vendors. I have sent them a legal notice worth Rs 300 crore for criminal breach of trust against GoJavas which resulted in erosion of value of Quickdel,” said Anand Rai, Founder of Pigeon Express, talking to Times of India.
Snapdeal sold its 49.99 per cent stake in GoJavas, which at its peak was valued at Rs 600 crore, to Delhi-based logistics firm Pigeon Express in March 2017. Rai, who had already taken over the operations of GoJavas in 2016, merged the Snapdeal’s stake with Pigeon Express.
However, Snapdeal termed Quickdel’s allegations as baseless. According to the e-commerce company, it is in direct contradiction of the “Release and Settlement Agreement” executed by Rai and Quickdel in March this year.
“The agreement completely released Jasper Infotech, Jasper Group, and its officers, employees, nominees, directors, and others from all liabilities/consequences arising out of the share purchase agreement, share acquisition & shareholders’ agreement, and master logistics services agreement,” said Snapdeal spokesperson.
Interestingly, a few months ago, Jasper Infotech had filed an FIR with the Delhi Police against the former promoters and directors of Quickdel — Praveen Sinha, Randhir Singh, Ashish Chaudhary and Abhijeet Singh. The four were accused of cheating, forgery, criminal breach of trust, conspiracy and criminal misappropriation of funds. The complaint said Snapdeal was induced to buy shares in Quickdel.