- Delhi High Court upholds Tatas’ opposition to the cryptocurrency TATA Coin.
- The court prohibits US and UK companies from using the TATA mark.
On Monday, the Delhi High Court accepted Tata Sons, request for a temporary restraining order against Hakunamatata Tata Founders and other parties, who were utilizing the former’s (TATA) trademark to engage in the cryptocurrency trading known as TATA Coin.
Justice Mukta Gupta and Justice Manoj Kumar Ohri stated that in trademark infringement issues, the possibility of confusion and misleading in the public’s view as a result of the violating trademark is sufficient justification for the court to grant an interim.
The Delhi High Court stated in the report that;
Any dubious and inferior products sold through the respondents’ website, using the appellant’s trademark, can seriously damage its credibility.
What does it Hold?
The multinational TATA group based in India is well-known for the quality of goods and services. Tata Sons claims that the defendants (Hakunamatata), who are registered in the US and the UK, are utilizing a former company (TATA) trademark to promote cryptocurrency trading online through their websites.
According to the report, the domain names www.tatabonus.com and www.hakunamatata.finance which allowed for the purchase and sale of cryptocurrency bearing the trademarks TATA coin or $TATA was established in June and May of 2021.
Following that, last year, the plaintiff requests a permanent injunction prohibiting the defendants from using the trademark “TATA” as part of their company name, domain name, or the name under which their cryptocurrency is made available to the public.
But the Delhi High Court’s experienced single judge issued an order on October 26, 2021, rejecting the plaintiff’s (Tata Son) application because there was no evidence of the respondents targeting the customers in India.
Finally, the current appeal is granted in the manner stated above for the aforementioned causes. As an ongoing probe, the TATA Coin (TATA) traded at $0.008019 with a trading volume of $97.22. TATA Coin is up 2.20% in the last 24 hours, as per CoinMarketCap.