BharatPe and PhonePe announced on May 26 that they had amicably settled all long-standing legal disputes relating to the use of the trademark with the suffix ‘Pe’.
Both companies have been involved in lengthy litigation in multiple courts over the past five years. The settlement will terminate all open legal proceedings.
As a next step, both parties have already agreed to withdraw all oppositions against each other in the trademark register, which will help them proceed with the registration of their respective trademarks, according to an official statement.
In addition, both organizations will undertake to take other steps necessary to comply with the obligations arising from the Settlement Agreement in all matters before the Delhi High Court and the Bombay High Court.
Welcoming the move, BharatPe Chairman Rajnish Kumar said, “This is a positive development for the industry. I appreciate the maturity and professionalism demonstrated by the leaders of both parties, working closely to resolve all outstanding legal issues and moving forward by focusing their energy and resources on building ecosystems of robust digital payment.
Highlighting the collective approach to the issue, Sameer Nigam, Founder and CEO of PhonePe, said he was happy with the amicable resolution of the matter. “This outcome will enable both companies to move forward and focus our collective energy on growing the Indian fintech industry as a whole. I would like to thank Mr. Rajnish Kumar and his team for working with us to achieve this positive result,” he said. said.