HC dismisses PhonePe's injunction plea against BharatPe over exclusivity on suffix 'Pe'

In a major development, famous payment firm PhonePe has withdrawn its injunction plea against BharatPe over use of suffix ‘Pe’. This happened after  Delhi High Court dismissed PhonePe’s interim injunction plea in April, company moved a division bench to seek relief.

What was court order?

Recent court order by a division bench of Justice Manmohan and Justice Navin Chawla said, “After some arguments, learned senior counsel for appellant (PhonePe) does t wish to press present appeal. He, however, prays for expeditious disposal of suit. Keeping in view of aforesaid limited prayer, we dispose of present appeal by directing learned single judge to expedite hearing and disposal of suit. We furr direct that ne of parties shall unnecessarily take an journment in proceedings before learned single judge."

Last month, PhonePe h filed an injunction plea before a division bench of Delhi High Court after a single judge bench dismissed it. However, it has told court it doesn’t wish to press present appeal on injunction but wants an “expeditious disposal of suit”, as per a court order.

Founder and CEO of BharatPe Ashneer Groover said in a statement, “It would have been a travesty of justice if foreign-owned PhonePe would have been allowed to mopolize [] Hindi word ‘Pe’,” and that “This was never a case on merit – it was flexing of muscles by Chinese Tencent and American Walmart backed, PhonePe, against homegrown BharatPe.”

popularity of app PhonePe saw a major incline from year 2016 and after which it got acquired by Flipkart. Ever since n re hasn't been any kind of downfall for this app due to ever-increasing demand for digital payments.