Business

KARACHI (Web Desk) – A group of four Pakistani entrepreneurs who were arrested on charges of infringing on intellectual property rights is now affirming to have been given clean chit by the city court.

According to the details, startup founders of “Investors Lounge” named Baqar Abbas Jafri, Sennen D’Souza, Hammad Ali Hashmi, and Waqar Ehsan had been accused of stealing source code by their former employee Mir Muhammad Ali Khan.

Related: Mir Mohammad Ali Khan says he will ‘fight ugly’ and has defeated Zionists

Both fought legal battle in the courts and on social media as well but the young entrepreneurs have now asserted to have been triumphant over their former boss Mir Muhammad Ali Khan.

According to a court judgement available with Daily Pakistan, the magistrate Nazish Naz had opined in an order that no substantial evidences were put forth by the complainant Mir Muhammad Ali Khan.

The court approved the complaint as “A class” for lack of Evidence. The case, however, can still go to trial if the prosecution brings forth additional evidence to support its allegations, Tech in Asia reported.

On the other side of the divide, the 50-year-old Mir Muhammad Ali Khan refuted any such claims through a Facebook post.

“Absolute lies of the news that alleged thieves of Investors Lounge, Baqar Abbas Jafri, Senen D’Souza and Hammad Hashmi and others have been exonerated. The case has been filed to be moved to the FIA Cyber Crime division last week after the Honourable Civil Judge gave in writing that she can not judge an IT related case” the post said.

However, Baqar Abbas responded to this and vowed to thwart the legal battle.

“We will proceed adjudication in every court of law. As such we have already won in city court and received high court injunction in our favour. The company reserves the right to not only protect its intellectual property, but also take strong measures to make an example of any individual claiming illegal ownership of our property.” Baqar said.

Related: SHC passes order in favor of Investors Lounge

Talking exclusively to Daily Pakistan, Baqar Abbas Jafri expressed that Mir Muhammad Ali Khan fails to appear before the Sindh High Court repeatedly owing to the fact that he has got no evidence to prove his point.

He maintained that the investment banker has already been stopped from representing investors guide and investorslounge as his intellectual property by the SHC on July 13, a copy of which has been provided to Daily Pakistan.

Baqir, the founder of Investorslounge vowed to fight the legal battle terming Mir Muhammad Alikhan a “liar” on the basis of his claims that the hearing has not begun on September 27, contrary to the judgement passed on September 19 by the city court.

Investors Lounge (www.investorslounge.com) is a financial information platform that empowers people with the education and insights they require to make intelligent investment decisions. The platform has garnered unprecedented attention since its launch and is renowned in the financial fraternity.