‘Motivation allegations’: MakemyTrip launches a return amid the allegations of EasemyTrip founder’s “China link” and “defense data”
Nishant Pitti, chairman and founder of Travel Concregator EasemyTrip, claims one of his competitors, MakeMyTrip, has a vulnerability on its website. Pitti claims that the company, which is “mainly owned by China,” compromises the data security of the Indian armed forces that use the platform to book tickets.
Pitty claimed in a post on Wednesday X that Indian Armed Forces personnel who used their defense ID to book tickets through this platform – accidentally disclosed their routes and destinations.
“The Indian Armed Forces discount tickets through a platform that is mainly owned by China, access to the defense ID, route and date. Our enemies know where our soldiers are flying. Attached screenshots to expose this vulnerability – now it must be patched.”
Although Pitty didn’t initially name the platform in his posts, screenshots and one of his follow-up posts showed in the comment box that the company is indeed MakemyTrip.
According to Pitti’s post, Trip.com Group Limited (formerly CTRIP.com International Limited) holds a “major” stake in MakeMyTrip. The company has acquired a stake in the company in September 2019.
The position further claims that Vangard Group Inc. owns 12.43% of the company, while BlackRock Inc. owns 10.85% of the shares. Fidelity Management and Research owns 7.82% stake and Morgan Stanley owns 6.37% stake. Other institutional investors hold 22.53% of the company, while listed companies and individuals own 44.6% of the shares.
The Nasdaq website says that the Nasdaq listed company MakemyTrip owns 331 institutional holders, which own more than 760 million shares of the company.
Mirae Asset Global Investments Co., Ltd., Baillie Gifford & Co, FMR LLC, GQG Partners LLC and JPMorgan Chase & Co. It is the top five institutional investors in MakemyTrip stock.
MakemyTrip fires backwards
When Livemint reached out to Makemytrip for Pitti’s allegations, a spokesperson said the company is entirely Indian and has a diverse shareholder base worldwide.
“Makemytrip is a proud Indian company founded by Indians, headquartered in India and trusted by millions of Indian travelers for more than 25 years. We are a publicly listed company in Nasdaq with a diverse shareholder base that spans the world,” a Makemytrip spokesperson said.
The company further said its operations were independent and declined to comment on the allegations.
“Our business is independent and guided by a team of experienced Indian professionals who bring a wealth of expertise and commitment to excellence. We adhere to strict corporate governance standards and fully comply with all applicable Indian legal and data privacy frameworks.”
“We do not comment on allegations of malicious or motivatedness but focus on providing the best service to our clients as responsible Indian companies.”
