CE Info Systems, a digital navigation company and owner of the MapMyIndia brand, has sent a legal notice to Ola Electric. According to sources, the notice alleges that Ola Electric copied its data and ‘reverse’ engineered its app to create Ola Maps. According to Bhasha news, it is worth noting that Ola Electric’s initial public offering (IPO) is coming soon. A source said on the condition of anonymity that the notice has been sent after negotiations with Ola failed.
Sent legal notice to Ola
According to the news, the source said that at present, a legal notice has been sent to Ola. This has been sent after the discussion failed. When contacted, a spokesperson for Ola Electric said that Ola Electric would like to respond to recent claims and media reports regarding alleged issues related to Ola Maps and MapMyIndia by CE Info Systems Limited (CE Info). He said that we would like to clearly state that these allegations are false, malicious and misleading. We will respond appropriately to the notice soon.
violated the agreement
Ola Electric is in the process of launching its Rs 6,100 crore IPO. CE Info Systems has reportedly said in the legal notice that Ola Electric has violated the agreement signed with the digital navigation firm in June 2021. The MapMyIndia owner alleged that Ola has copied data from the company’s maps for unfair commercial gain.
Ola Electric’s IPO activities have intensified. The company has announced a price band of Rs 72-76 per share for the public offering. The IPO will open for bidding on August 2. Anchor investor bidding will take place on August 1 and the IPO will close on August 6. The total market capitalization of Ola Electric is estimated to be around Rs 33,500 crore.
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