After Snapdeal accused GoJavas, of cheating, forgery, conspiracy, criminal breach of trust and criminal misappropriation of funds in an FIR four months ago, the logistics firm has now locked horn with the e-commerce player with a legal notice. Quickdel Logistics, which runs the e-commerce logistics company GoJavas has now sent an Rs 300 crore legal notice to the founders of Snapdeal Kunal Bahl and Rohit Bansal and to Snapdeal’s parent Jasper Infotech, reports The Times of India.

The publication reports that the logistics company has accused the founders and the company of criminal breach of trust and siphoning off money from GoJavas to Snapdeal’s own logistics unit Vulcan Express.GoJavas claims that Snapdeal stopped doing business with GoJavas for the benefit of Vulcan and stole confidential business information such as data on employees and service vendors from GoJavas. Snapdeal, in a bid to strengthen its supply chain infrastructure, had picked up a minority stake in GoJavas, in March 2015.

On this development, Snapdeal spokesperson said that the ecommerce player is contemplating initiating strict legal action against this frivolous attempt at extortion. It also said:

M/s Quickdel Logistics Private Limited and Shri Anand Rai have vide a “Release and Settlement Agreement” dated 31st March 2017 executed a full and complete release in favor of M/s Jasper Infotech Private Limited, Jasper Group and its officers, employees, nominees, directors and others as applicable, releasing them from all and any liabilities / consequences arising out of Share Purchase Agreement, Share Acquisition & Shareholders Agreement and Master Logistics Services Agreement.
The legal notice dated 4.10.2017 issued on behalf of M/s Quickdel Logistics Private Limited is not only baseless, but is also in direct contradiction of the above mentioned “Release and Settlement Agreement” executed by Shri Anand Rai and M/s Quickdel Logistics Private Limited.

What happened earlier

In June, Snapdeal filed an FIR with the Economic Offences Wing of Delhi Police against Quickdel Logistics after an internal investigation conducted by Snapdeal, of Quickdel’s accounts between January 1, 2015 and March 31, 2015, which revealed that inflated and excess payments had been made to non-existent persons.

The alleged misappropriation of funds is reportedly to the tune of Rs 357.26 crore. And, Snapdeal also alleged that they were “induced into buying shares of Quickdel”, following which they paid Rs 119.99 crore to Randhir Singh and Rs 237.27 crore to Praveen Sinha to acquire a 49.99% stake in the company.

It’s worth noting that last year, an audit conducted by Rocket Internet revealed certain corporate governance violations and financial impropriety of former executives at fashion e-tailer Jabong, including Praveen Sinha, who was the former managing director of Jabong. One of the primary focuses of the audit was the alleged fraudulent transfer of GoJavas (then the logistics unit of Jabong) into an entity that was controlled by Sinha. Interestingly, soon after this revelation, Flipkart acquired Jabong for $70 million in cash.

While, earlier this year a number of cases were filed against GoJavas for defaulting on payments to cargo vendors. At the time, the company had denied all charges.

Note: The headline and post have been updated, as Snapdeal issued a statement on this development