Mumbai: Bitcoin may be a household name today, but there are various types of cryptocurrency.
Have you heard of the cryptocurrency that bear the trademark of ‘Tata Coin’ or ‘$ Tata’? Tata Sons, the parent company from Tata Group, is not successful in its offer to find permanent orders from the Delhi High Court to resist the founder of Hakunamatataata Tata and others from using the trademark ‘Tata’ as part of the name where the cryptocurrency is made available to the public or as part of the name their company or domain.
The domain name of Tatabonus.com and Hakunamatata.
Finance that allows the purchase and sale of Cryptocurrency ‘Tata’ set in June and May 2021 respectively.
The reason for Tata Sons cannot succeed is because it cannot prove the satisfaction of the court that foreign parties (the defendants) intend to target India as a customer base.
The defendants in this lawsuit, submitted by Tata Sons with the Delhi High Court, is a company based in the US and UK without the presence of India.
They are located outside the border of Indian sovereignty and in a row beyond the reach of the trade law, 1999 and the Civil Procedure Code, 1908.
In this background, “The intention to target India as a very important customer base” for Tata to make the case.
“The fact that the Cryptocurrency defendant can be purchased by a customer located in India and that, as a result, the value of the Plaintiff brand can be diluted, it even looks cumulative, can’t be in my view justifying this court disrupting the activities of the defendants, or with brands or regarding it,” SHANKAR’s C day justice is held.
Apparently, the defendant’s cryptocurrency can be purchased – using the QR code and the methodology shown on the defendant’s website – by customers located anywhere in the world.
Therefore, this factor cannot indicate a conscious targeting of the Indian customer base by the defendants.
The website or social media website also does not prove the intention to target customers borne by high court jurisdiction.
“If they are at all targeting customers, they target customers throughout the world,” said the judge.
Tata Sons did not respond to email requests on this problem.
The source told TII that Tata Sons considered pursuing this case in the British court.