BharatPe Group and PhonePe Group announced on May 26 that they have resolved all longstanding legal disputes concerning the use of the 'Pe' trademark suffix in an amicable manner.
After being embroiled in legal battles across various courts for the past five years, both companies have reached a settlement that will bring an end to all ongoing judicial proceedings, as stated in a joint release issued on Sunday.
In line with the settlement, the companies have initiated the withdrawal of oppositions against each other in the trademark registry, facilitating the registration of their respective marks. Additionally, they commit to fulfilling their obligations under the settlement agreement for all cases pending before the Delhi High Court and Bombay High Court.
Rajnish Kumar, Chairman of BharatPe's Board, commended the maturity and professionalism displayed by both management teams in resolving the legal matters, emphasizing the positive impact on the industry. He expressed appreciation for the collaboration between the parties to redirect their efforts towards building robust digital payment ecosystems.
Similarly, Sameer Nigam, Founder and CEO of PhonePe, echoed sentiments of reaching a favorable resolution, highlighting the mutual benefits that will enable both companies to concentrate on advancing the Indian fintech industry collectively. Nigam extended gratitude to Rajnish Kumar and his team for their cooperation in achieving this positive outcome.
