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20-Dec2017

Matrimony.com gets Rs 12.82 crore from promoter

Matrimony.com has received Rs 12.82 crore from Murugavel Janakiraman, Promoter & Managing Director. The company received the amount on December 18, a year before it becomes due, towards voluntary contribution of $2 million as per the terms of agreement dated December 21, 2015 inter se between defendants of the litigation in the US.

On May 13, 2011, Rajan Desai and Real Soft Inc (plaintiffs in the US) had filed a lawsuit against Infonauts, a wholly-owned corporation of Matrimony CEO and promoter Murugavel Janakiraman, Bharatmatrimony.com, and the board of directors of Bharatmatrimony.com in the Superior Court of New Jersey, Mercer County. The lawsuit alleged that Matrimony is orchestrating an IPO for the purpose of diluting or extinguishing the US plaintiffs' equity interest in Bharatmatrimony.

Matrimony.com is engaged in providing online matchmaking and marriage services. It offers their services through Internet and mobile platforms in India and internationally. It offers a range of targeted and customized products and services that are tailored to meet the specific requirements of customers based on their religious or caste preferences or other criteria such as marital status and age bracket.


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