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2.The crux of the allegations in the FIR is that the accused A1 to A3 are ex-employees of the 2nd respondent/Cred Avenue Private Limited.

According to the de facto complainant, who is the authorised signatory of the said Cred Avenue Private Limited, the accused, who are their ex-

employees, hatched a criminal conspiracy to make wrongful gain and committed theft and misappropriation of confidential and proprietary data of the complainant's Company. The complainant has a workforce of over 820 employees. The business developed by the complainant Company is unique and it holds all intellectual property and rights in the business to the exclusion of all others. A1 and A2 joined the complainant's Company in October, 2020 and A3 joined the Company in May, 2021 in the Yubi Pools Department. The Yubi Pools platform provides an opportunity to the clients of the complainant to find investment opportunities as well as to find investors for their securitisation products/transaction comprising of identified loan assets. The accused, as a part of their employment, had https://www.mhc.tn.gov.in/judis ( Uploaded on: 02/09/2025 01:54:26 pm ) Crl.O.P.Nos.11214, 11215 & 11216 of 2023 access to the computer network and cloud storage facilities of the complainant, which contains the confidential proprietary data and trade secrets of the complainant and its customers. The accused have custody of the key responsibilities and were exclusively dealing with sensitive confidential and proprietary information and trade secrets including product details, pricing, customer information, and competitive business, important leads and co-ordinates of the customers. In September 2022, A3 resigned from the complainant's Company. Thereafter, within few days, the other accused also resigned. Thereafter, the complainant came to know that the accused were canvassing and soliciting the business of its customers and clients. Thereafter, the complainant, on quick check on the computer systems, found that the accused persons have stolen the confidential data and information from the complainant's computer network, including the complainant's Google Drive provided to them for storage purposes, and the data has been transferred to the personal computers of the accused only in order to cause wrongful loss to the complainant's Company. Hence, it is the allegation of the de facto complainant that all the accused persons have conspired together with a criminal intention to systematically damage, destroy and steal the confidential and proprietary information residing in https://www.mhc.tn.gov.in/judis ( Uploaded on: 02/09/2025 01:54:26 pm ) Crl.O.P.Nos.11214, 11215 & 11216 of 2023 the complainant's computer resource and they have misappropriated the confidential and proprietary data of the complainant Company to build their own venture, and solicit customers and have cheated the complainant.

5.Learned Senior Counsel appearing for the de facto complainant would submit that the petitioners have entered into a contract not to disclose the confidential information and the contract also clearly prohibits soliciting the clients of the complainant. The confidential information stored in the computers of the complainant Company and cloud have been stolen by the petitioners by transferring the data to their personal computers. Therefore, the learned Senior Counsel would submit that the FIR, at this stage, cannot be quashed and the investigation may go on to unearth the truth.