New Delhi: The BharatPe Group and the Mobile Group have settled the long-standing legal dispute over the use of the ‘Pe’ trademark, a joint statement said. The two companies have been involved in a protracted legal dispute in various courts for the past five years.
“The settlement agreement ends all civil lawsuits,” the joint statement announced on May 26. As a further step, they have taken steps to withdraw all objections against themselves from the Register of Trademarks, which will help them to continue to register themselves. trade mark -each. .symbol.
In addition, the two organizations will have an opportunity to fulfill their obligations under the settlement agreement in all cases filed before the Delhi High Court and the Bombay High Court, the statement said. Rajnish Kumar, Chairman of the Board of Directors of BharatPe said, “This is a positive development for the industry. I appreciate the maturity and professionalism shown by the management of both parties in working together to decide all important legal issues.” to focus their efforts and resources on building a strong digital payment ecosystem.
Sameer Nigam, Founder and CEO of PhonePe said, “I am happy that we have reached a good resolution on this matter. This result will help both companies to move forward and focus on our work. together with the Indian fintech industry for its development.Thanks to Mr. Rajnish Kumar and his team for working closely with us to achieve these great results.
BharatPe is the brand name of Resilient Innovations Pvt Ltd, founded in 2018. 370 million UPI transactions. The PhonePe Group is a leading fintech company in India. Its flagship product, the digital payment application PhonePe, was launched in August 2016. .
