policybazaar

Delhi HC rebukes PolicyBazaar in case against Acko, slaps Rs 10 lakh fine

policybazaar

Online insurance aggregator PolicyBazaar has been fined Rs 10 lakh for concealing information and misleading the Delhi High Court to obtain favourable order in trademark infringement case filed against Acko General Insurance, a digital insurance firm.

Policybazaar has been asked to deposit Rs 5 lakh with the Prime Ministers Relief Fund and other Rs 5 lakh with Delhi Legal-Aid Services Authority by Justice Sanjeev Narula.

Soon after the case was filed, on May 16, the court had restrained Acko from using the trademark ‘policy bazaar’ in any manner or form or combination or as an adword/key word programme through Google.

Policybazaar issued a legal notice to Acko and before Acko could respond, filed an injunction and got a restraining order concealing facts from the court, as per the digital insurance firm.

Later, Acko in response, presented evidence that proved Policybazaar themselves has been using ACKO as a keyword, which is their registered trademark.  Policybazaar admitted this. Though, it claimed to have stopped using it after April 23.

Taking note of this, Justice Narula imposed fine on PolicyBazaar and said ‘I have no hesitation to say the concealment has been deliberate in this case. Plaintiffs (Policybazaar) could have easily mentioned the true and correct facts before the court.’

He further said that the court should not allow a party to get away with concealment of material facts when it comes to matters relating to grant of relief that is founded on principles of equity.

PolicyBazaar had taken an unfair advantage over Acko by concealing the material facts, said the court suspending the May 16 order of injunction. The case will be heard next on July 11.

policybazaar

Delhi HC rebukes PolicyBazaar in case against Acko, slaps Rs 10 lakh fine

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Below is the bank details:

 
Amount: INR 3,00,000 + GST (TDS to be deducted 2%)
Bank Name: ICICI Bank
Account Type: Current
Account Name: Bareback Media Private Limited
Account Number: 002105023595
IFSC Code: ICIC0000021
 
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