Bennett, Coleman & Co. Ltd, the holding company of Times Group has sent a legal notice to real estate portal Housing.com owner, Locon Solutions Pvt Ltd., and board for alleged defamation, reports TechCircle. The notice names Housing CEO Rahul Yadav and its directors, asking them to issue an unconditional apology and is seeking $16 million in damages. Earlier this week on the 16th, Yadav, in an internal mail, claimed that Times Internet owned online real estate portal Magicbricks.com is currently trying to “malign Housing’s position in India” while it closes a round of funding in the US. This was following a nasty email to Shailendra Singh, in which Yadav was upset that Sequoia Capital was looking to poach employees at Housing.com. The original email written by Rahul Yadav: Subject: Investors considering to remove Housing.com co-founder Rahul Yadav as CEO: Economic Times http://economictimes.indiatimes.com/wealth/real-estate/news/investors-considering-to-remove-housing-com-co-founder-rahul-yadav-as-ceo-sources/articleshow/46534663.cms Investors called me and said Times is behind you, be ready for such story MagicBricks (Our competitor and a Times Group Company) is trying to close funding round in US while malign Housing’s position in India. Housing is being loved in US. And they linked me with that unfortunate car accident. They have no shame! After paying for past and upcoming marketing blasts’ advances as well, We still have 75Mn+ in our bank. Ola cabs raised $200Mn. We raised $90Mn. Almost at the same time. Their cash burn is 125Cr per month and ours
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