Corporate War? Emails of Noida-Based Defence Equipment Company Hacked, Rs 50 Crore Loss Incurred

New Delhi: The corporate war has escalated to such an extent that a Noida based company which deals in defence equipment and technology alleged that its rival has hacked company’s email ids and misused it to cause financial loss of Rs 50 crore.  

According to the FIR registered with Noida Police by ELCOM Innovations Pvt. Ltd, email ids of senior officials were hacked on February 3, 2020 and confidential data was stolen.  Sumeet Mallikarjun, senior vice president of the company in the FIR said, “My emails along with the emails of other members of my department were hacked, the company has incurred heavy financial losses and irreparable damage to its reputation.”

ELCOM Innovations exclusively deals with the defence Forces, para-military forces and intelligence agencies. The company claims to have access to critical and classified data.

“As, head of strategic business vertical, majority of our electronic communication (emails, etc.) were of extremely sensitive nature and of substantial financial value, owing to the fact that most of our solutions are customized for these agencies,” the FIR by the company reads.

In the FIR the official alleged that the perpetrators have unscrupulously expended confidential information to reveal related to their bidding prices for various government tenders to competitors.

“The hack has exposed our IPR to competitors leading to copying of our products, divert contracts of our products to their own company, at lesser costs. The hackers have indulged in misleading our International clients with unsolicited and fallacious information leading to either delay of contracts or complete withdrawal of contracts,” Mallikarjun said in FIR.

He added that criminals have instigated their suppliers to significantly increase their prices by divulging company’s profit margins. “We estimate a financial loss of Rs 50 Crore, over and above the loss of goodwill and reputation in the industry,” Mallikarjun said.

Noida police have registered the FIR and trying to ascertain the location from where the email ids were accessed.