Britannia on Tiger trail in Singapore
Britannia Industries has launched a case against its foreign shareholder Groupe Danone in a Singapore court for resolving the Tiger trademark dispute.
By TNN |
BANGALORE: Britannia Industries has launched a case against its foreign shareholder Groupe Danone in a Singapore court for resolving the Tiger trademark dispute. This came even as Britannia apparently turned down Danone’s offer to pay e4 million as damages for settling the row, sources said.
In a statement, Britannia on Thursday confirmed initiating legal proceedings against the French multinational as reported in ET on Thursday. The company said it was acting on the advice of the IPR Committee, which has been looking into the trademark dispute. Britannia is seeking return of the international brand rights along with damages, the quantification of which is not yet clear, sources said.
However, the two warring partners in the company, Nusli Wadia Group and Danone, hinted that the latest development may not stall the ongoing amicable separation talks between them. In fact, Britannia chairman Nusli Wadia on Wednesday resigned from the IPR Committee to ensure that there is no conflict of interest in dealing with the Tiger matter and the discussions between Wadia Group & Groupe Danone over shareholder matters.
Earlier in the day, Danone indicated that there existed differences on the IPR turf despite earnest negotiations. “Regarding the IP of Tiger, as already explained, we have different positions. We have tried to find a solution amicably. So a third party as a judge will be welcome to arbitrate,” a Danone official said.
Wadias and Danone together own about 51% stake in Britannia through UK-based ABIH. Danone has already expressed interest to quit the Indian biscuit company to tap India’s growing dairy and water businesses independently.
In a statement, Britannia on Thursday confirmed initiating legal proceedings against the French multinational as reported in ET on Thursday. The company said it was acting on the advice of the IPR Committee, which has been looking into the trademark dispute. Britannia is seeking return of the international brand rights along with damages, the quantification of which is not yet clear, sources said.
However, the two warring partners in the company, Nusli Wadia Group and Danone, hinted that the latest development may not stall the ongoing amicable separation talks between them. In fact, Britannia chairman Nusli Wadia on Wednesday resigned from the IPR Committee to ensure that there is no conflict of interest in dealing with the Tiger matter and the discussions between Wadia Group & Groupe Danone over shareholder matters.
Earlier in the day, Danone indicated that there existed differences on the IPR turf despite earnest negotiations. “Regarding the IP of Tiger, as already explained, we have different positions. We have tried to find a solution amicably. So a third party as a judge will be welcome to arbitrate,” a Danone official said.
Wadias and Danone together own about 51% stake in Britannia through UK-based ABIH. Danone has already expressed interest to quit the Indian biscuit company to tap India’s growing dairy and water businesses independently.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
