BigBasket, DailyNinja served Rs 231 crore notice over breach of contract: Report
In October 2017, Town Essential had formed a contract with DailyNinja for exclusive back-end supply and procurement.
February 08, 2021 / 12:09 PM IST
Bigbasket (2/10) – Bigbasket scored its points in the fair management area, where it offered communication channels for workers such as helpline numbers, management-created WhatsApp groups and one-on-one communication channels with managers or team leads. (Image: BigBasket)
BigBasket and Daily Ninja have been served a Rs 231 crore notice by Town Essentials since they allegedly did not honour a contract.
Town Essentials has claimed losses, demanding Rs 6 crore in relation to termination of the contract, Rs 200 crore for "wrongful loss of growth opportunity", and Rs 25 crore for "harassment" and "cheating", Mint reported citing the notice.
Town Essentials said it lost important business and operations ran into losses due to the violation of the contract. The notice has been sent to DailyNinja Delivery Services and Supermarket Grocery Supplies, the report said.
Moneycontrol could not independently verify a story.
In October 2017, Town Essential had formed a contract with DailyNinja for exclusive back-end supply and procurement. After DailyNinja was acquired by BigBasket in March 2020, the contract remained valid.
However, DailyNinja said billings have to be raised with BigBasket after it began moving its customers to BBDaily, Mint reported.
"The ongoing contract with Daily Ninja stated that Town Essentials will be an exclusive partner to Daily Ninja until it delivers a certain volume of business to us. During the transition of the acquisition and the lockdown when the supply chain was disrupted, DailyNinja continued to leverage our logistics strength and has ever since been systematically cutting us off with no proactive intimation that BigBasket has been onboarded as new supply partners," the Town Essentials spokesperson told the publication.
"We have been kept in the dark on the matter," the spokesperson added.
The report said the notice has also been sent to former investors of DailyNinja including Sequoia Capital India, Matrix Partners India, and Saama Capital, along with BigBasket co-founder Hari Menon and DailyNinja co-founders, Sagar Yarnalkar, and Anurag Gupta.