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Algo Legal and Kapoor received large, disproportionate payments from portfolio company Zilingo: Sequoia tells Court

In today’s hearing, City Civil and Sessions Judge MH Annayyaanavar was told that Sequoia, HT Media Limited (owner of Hindustan Times) and E Eighteen.com Limited (Money Control) had filed their objections to the suit. Counsel for Twitter sought more time to file a reply.

During the hearing, counsel for Algo Legal informed the Court that Sequoia has made allegations pertaining to unaccounted payments received by the firm from entities like Zilingo even as the founder of Zilingo has herself clarified publicly that all payments made were for services rendered.

Therefore, the very basis of the allegations are circumspect and so the Court must not delay hearing these matters, it was argued.

Source: Barandbench

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