The Delhi High Court has imposed ₹10 lakh fine on an online platform Policybazaar for concealing facts to obtain an ex-parte injunction in a trademark infringement case filed by it against an insurance company.
The judgment came after Acko General Insurance approached the court saying that Policybazaar had concealed and distorted material facts, made misrepresentations and false statements before the court to obtain the ex-parte ad-interim injunction order.
“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. Plaintiffs ought to have candidly disclosed all material facts which have a bearing on the issues of the present case,” Justice Sanjeev Narula said in his May 28 order.
Moreover, Gurugram-based Policybazaar, was started in June 2008 by Yashish Dahiya, Alok Bansal and Avaneesh Nirjar. It is an online platform that aggregates insurance plans and serves as a marketplace for policies.
Whereas, Acko General Insurance is a private sector general insurance company in India. It follows an online-led model and hence, all operations for the company are offered through the digital platform. Founded in November 2016, the company received its license from the Insurance Regulatory and Development Authority of India (IRDAI) in September 2017.
Conclusively, the court directed Policybazaar that it must deposit ₹5 lakh with the Prime Minister’s Relief Fund and the other half with Delhi Legal Aid Services Authority. It also said that the interim order of injunction will remain suspended till the next date of hearing on July 11.