MAM
Patanjali drags former partner to court
Swami Ramdev’s Patanjali Ayurved has dragged a firm launched by former partner Swami Karamveer to Delhi High court for allegedly violating its trademark and copyrights.
Karamveer is a former partner of Ramdev, having cofounded Divya Yog Mandir Trust along with Ramdev and Acharya Balkrishna. His company sells a number of consumer products from toothpaste and shampoo to juices and spices under the Kalpamrit brand.
Patanjali Ayurved has accused Maharishi Patanjali Parivar, whose unit Kalpamrit Ayurved works “under the direct inspiration and guidance” of yoga guru Karamveer, of “infringement of trademark, copyright, dilution, rendition of accounts and damages” by launching products that are “deceptively similar” to Patanjali products in name, logo and packaging. The high court in an interim order on Tuesday restrained Kalpamrit and its associates from using the word Patanjali or logo/artwork similar to those used by Patanjali till further orders.
“…this court is of the opinion that a prima facie case of infringement of trademark and copyright is made out in favour of the plaintiff and balance of convenience is also in its favour. Further, irreparable harm or injury would be caused to the plaintiff if an interim injunction order is not passed,” a bench of Justice Manmohan said.
The next hearing on the matter is listed for May 7.
Brands
Reserve Bank of India cancels Paytm Payments Bank licence
Central bank cites compliance failures; curbs tighten as wind-up looms
MUMBAI: India’s banking watchdog delivered its sharpest blow yet to Paytm Payments Bank, cancelling its licence and effectively ending its ability to operate as a bank under the law.
The Reserve Bank of India said the entity can no longer conduct banking business under the Banking Regulation Act, citing concerns that its affairs were not being run in the interest of depositors or the public and that it had failed to meet licence conditions.
The move escalates a crackdown that has been building for months. The bank had already been barred from onboarding new customers since March 11, 2022, and later faced restrictions on deposits, credit and wallet top-ups. In January 2024, the central bank ordered it to stop accepting fresh deposits, pointing to persistent non-compliance, including lapses in customer due diligence, use of funds and technology systems.
Operationally, the bank is now on a tight leash. It may process withdrawals of existing deposits and facilitate loan referrals through banking correspondents, but it cannot take fresh deposits.
The central bank said it would apply to the high court to wind up the bank.
Paytm sought to ringfence the fallout. In a regulatory filing, it said the licence cancellation applies to Paytm Payments Bank Limited, a separate entity, and should not be attributed to One 97 Communications. It added that there is no exposure or material business arrangement with the bank and that it operates independently, without Paytm’s board or management involvement.
“As informed earlier, Paytm (One 97 Communications Limited) and its services, which have been operating without interruption, will continue to operate uninterrupted. These include the Paytm app, Paytm UPI, Paytm Gold and all other services offered by its subsidiaries and associated companies,” the company said.
The distinction may reassure users of the app ecosystem, but the regulator’s verdict is unequivocal. After years of warnings, caps and curbs, the payments bank experiment at Paytm is being shut down—decisively, and with little room left to manoeuvre.
