BharatPe and PhonePe resolve five-year legal battle over 'Pe' trademark
The settlement marks the end of a five-year legal battle that had been ongoing across multiple courts.
Fintech companies Group and Group have settled all long-standing legal disputes related to the use of the trademark with the suffix 'Pe'.
The settlement marks the end of a five-year legal battle that had been ongoing across multiple courts.
In 2018, PhonePe issued a cease and desist notice to BharatPe, directing them to stop using the brand name BharatPe with 'Pe' written in Devanagari script.
Tiger-Global backed fintech unicorn startup subsequently stopped using the format and switched to using 'BharatPe' only for its services.
“This is a positive development for the industry. I appreciate the maturity and professionalism shown by the Management of both sides, working closely to resolve all outstanding legal issues and moving ahead to focus their energy and resources in building robust digital payment ecosystems,’’ said Rajnish Kumar, Chairman of the Board, BharatPe.
Later in 2019, PhonePe filed a lawsuit against BharatPe in the Delhi High Court, claiming that it had infringed on its registered trademark 'PhonePe'. The case was dismissed, and the court refused to grant an injunction against BharatPe's trademark.
The settlement announced today brings to an end all outstanding litigation, with both parties agreeing to withdraw all oppositions against each other in the trademark register.
This will enable them to proceed with the registration of their respective trademarks.
Sameer Nigam, CEO of PhonePe, expressed amicable resolution between the two companies, allowing them to focus on growing the Indian fintech industry together.