BharatPe and PhonePe Settle Long-Standing Trademark: On May 26, the BharatPe Group and the PhonePe Group announced that all long-standing legal disputes concerning the use of the trademark with the suffix ‘Pe’ have been resolved amicably.
During the past five years, both companies had been involved in long-running legal disputes.
The settlement will end all open judicial proceedings, according to a joint statement released on Sunday.
Following this, the companies have already withdrawn all oppositions against each other in the trademark registry, which will enable them to pursue registration of their respective marks.
In addition, both entities will take other necessary steps to comply with the settlement agreement in respect of all cases before the Delhi High Court and Bombay High Court.
It is a positive development for the industry, according to Rajnish Kumar, Chairman of the Board at BharatPe. I appreciate the maturity and professionalism shown by the Management of both sides, working closely to resolve all outstanding legal issues and moving forward to focus their energies and resources on building robust digital payment ecosystems.”
A resolution has been reached amicably in this matter, said Sameer Nigam, founder and CEO of PhonePe. Both companies will benefit from this outcome, and we can concentrate our collective efforts on growing the Indian fintech industry. It was a pleasure working with Rajnish Kumar and his team to reach this positive outcome.
