Shrikant Kunden, a Pune-based entrepreneur and founder-director of “Last Mile Digital Solutions Private Limited”,a startup, has filed a criminal complaint against Delhi-based “Indian Angel Network Services Pvt Ltd (IAN)”, Hyderabad-based “Zippr Private Limited”and Mr Gagan Aggarwal, Incubator Manager, IAN, with Pune Police, for allegedly misusing his confidential documents, valuable information, trade secrets and, criminal breach of trust. On the basis of the complaint, the Pune Police has registered the FIR u/s420, 406, 34 of the IPC.
The Story So Far
In last 6 years, Mr Kundenhas filed 4 patents in India. One of his patent-filed technologies named “Digital Location System (DLS)” that was filedwith the Patents Office in 2010, received 4th Prize in a national-level competition organised by the Government of India and the Confederation of Indian Industry (CII) in 2012, among 650 contestants.
After being declared winner in this prestigious competition, asenior representative from the IAN, the largest angel funding company in India, met Mr Shrikant Kunden, and expressed interest in funding this winning project.
Later, this representative followed up by reminder mails and asked Mr Kunden to share techno-functional-commercial documents of the project to formalize and initiate the funding process. Trusting in IAN, since it was associated with the Government of India in the same program, Mr Kunden shared the documents with IAN in good faith.
After a few months, a new company was incorporated in Hyderabad, Zippr Private Limited, in which IAN invested INR 6 crore, which has allegedly developed the same solution and started commercialising its services, allegedly referring to the documents that are intellectual property of Mr Kunden.
Today, this company is offering its services to Domino’s India, Thyrocare India, Planet Express, commonfloor.com, Carzcare, Greater Hyderabad Municipal Corporation, Karnataka’s 108 emergency service and municipal corporations, allegedly using the same technology and trade secrets.
Subsequently, Mr Shrikant Kunden filed a criminal police complaint to caution the concerned companies, government entities and investors.
———— Response from Zippr and IAN —–