BharatPe and PhonePe have announced the resolution of their legal disputes concerning the 'Pe' suffix in their trademarks. This settlement marks the end of a five-year-long conflict.
Case Background
The dispute was about the use of the 'Pe' suffix in the trademarks of both companies. They had been involved in legal battles across multiple courts.
Settlement Details
The companies released a joint statement confirming the settlement. They agreed to end all ongoing court cases and withdraw their opposition to each other's trademark registrations.
Legal Actions
Both companies have started the process of withdrawing their cases from the Delhi and Bombay High Courts. This will allow them to proceed with their respective trademark filings without further conflict.
Company Leaders' Statements
Rajnish Kumar, Chairman of BharatPe
"This settlement is a positive step for the industry. I appreciate the maturity shown by both sides in resolving these issues and focusing on building strong digital payment systems."
Sameer Nigam, Founder and CEO of PhonePe
"I am happy we have reached a friendly resolution. This will allow us to focus on growing the Indian fintech industry."
