New Delhi: In a significant development for the fintech industry, BharatPe Group and PhonePe Group have resolved their long-standing legal battle over the use of the trademark suffix ‘Pe’. The two companies, which had been embroiled in disputes across multiple courts for the past five years, announced an amicable settlement in a joint statement. Here are the key details:
- Background of the Dispute:
- BharatPe and PhonePe had been engaged in protracted legal battles related to the use of the ‘Pe’ suffix in their brand names.
- These disputes spanned various courts and had implications for the Indian payment ecosystem.
- Resolution and Impact:
- The settlement puts an end to all open judicial proceedings between the two companies.
- Both organizations have amicably resolved their long-standing trademark disputes, paving the way for cooperation and growth in the industry.
- As part of the resolution, they have withdrawn all oppositions against each other in the Trademark Registry.
- This step will facilitate the registration of their respective trademarks.
- Statements from Company Leaders:
- Rajneesh Kumar, Chairman of the Board of Directors at BharatPe, expressed positivity about the resolution. He commended the maturity and professionalism displayed by both management teams in resolving legal issues and redirecting efforts toward building a robust digital payments ecosystem.
- Sameer Nigam, Founder and CEO of PhonePe, welcomed the amicable resolution. He emphasized that it would benefit both companies and contribute to the growth of India’s fintech industry as a whole.
- Next Steps:
- BharatPe and PhonePe will fulfill their obligations under the settlement agreement in all matters before the Delhi High Court and Bombay High Court.
This settlement marks a turning point, allowing these fintech giants to focus on innovation and collaboration in the ever-evolving digital payments landscape.
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