In yet one more feud within the household, Vijay Kirloskar sues nephews

2020/11 07 01:11

Vijay Ravindra Kirloskar, Chairman of Bengaluru-based Kirloskar Electrical Firm, has moved a Pune court docket alleging ‘unauthorised’ use of the ‘Kirloskar’ model identify by his nephews Atul, Rahul and Vikram Kirloskar.

This comes at the same time as Atul, Rahul and Vikram Kirloskar are individually combating a authorized battle in opposition to their brother Sanjay Kirloskar for management over Kirloskar Brothers Ltd.

Vijay Kirloskar’s lawsuit has alleged misappropriation of emblems by seven entities that aren’t shareholders of Kirloskar Proprietary Ltd (KPL) however are utilizing the ‘Kirloskar’ trademark with out paying any royalty. The entities are Arka Fincap, Kirloskar Applied sciences Pvt Ltd, Kirloskar Energen Pvt Ltd, Kirloskar Industries, SL Kirloskar CSR Basis, Kirloskar Institute of Superior Administration Research and Kirloskar Basis.

Additional, Vijay Kirloskar, in his lawsuit, mentioned he was shocked to note that the accused have been utilizing the trademark ‘Kirloskar’ / ‘Kirloskar Enriching Lives’ below some alleged licence settlement or writings.

“They weren’t even members of KPL, which is a prerequisite below the Articles of Affiliation,” the court docket submitting acknowledged.

Vijay Kirloskar holds a 7.87 per cent stake in KPL, which is the custodian of the emblems related to the ‘Kirloskar’ identify. He has sought ₹50 lakh as token compensation for this violation. The siblings and different defendants are but to file their model in court docket.

Vijay Kirloskar mentioned he first received wind of the matter in July 2019, when he acquired a discover for an AGM of KPL.

Share allotment

One of many gadgets on the agenda was to subject and provide seven non-cumulative, non-voting, non-convertible, redeemable desire shares of ₹100 every for money at par on a non-public placement foundation to the seven entities.

Subsequently, in December 2019, he moved the Pune court docket in an effort to forestall the allotment of KPL shares to those seven entities. Nonetheless, they responded that six of them have been utilizing the trademark ‘Kirloskar’ for the previous a few years below a licence settlement, and paying royalty for a similar. The case will subsequent be heard on November 27.

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