Paridhi Arya
Published on June 7, 2022 at 19:32 IST
Algo Legal, a law firm, and its founder Sandeep Kapoor filed a defamation suit against its venture capital company Sequoia Capital, media outlets and Twitter.
The Suit is filed in the Civil City Court in front of Session Judge MH Annayyaanavar on June 7 in Bangalore.
The Parties impleaded in the case are owner of Hindustan times publication, owner of Times of India and owner of News18 along with journalist and Twitter.
Sandeep Kapoor was former General Counsel of Sequoia Capital for nine years and then founded his law firm. There are reports in media that Sandeep Kapoor solicited business from Sequoia Capital aggressively because of which US headquarter of Sequoia Capital flooded with complaints.
Thereafter, Sequoia Capital gave letter to portfolio companies, to warn them for working with Algo Legal.
This created the distrust and loss of reputation to Algo Legal because of which many lawyers and partners left the firm. It was alleged that Sandeep Kapoor threatened the portfolio companies can be charged for violating the laws of Foreign Exchange Management Act.
The Companies were further threatened to be investigated by Enforcement Directorate and Income Tax Department.
It was also alleged that Kapoor used his former position to take business from portfolio companies for his Algo Legal law firm.
“Algo Legal is a law-abiding entity and has never conducted itself in contravention of any law(s). We refrain from being dragged into a trial by media and reserve our right to seek legal remedies as may be available to us to defend our reputation and seek justice.” Sandeep Kapoor responded.