New Delhi [India], January 29 (ANI): Kalpataru Ltd on Wednesday denied any involvement with the fraudulent group misusing its name, following the Enforcement Directorate’s (ED) statement that it had attached nine immovable properties worth Rs 30.5 crore linked to “Kalpataru Group companies” under the Prevention of Money Laundering Act (PMLA), 2002.
On Wednesday, in a press release, the agency had said, “Directorate of Enforcement (ED), Lucknow Zonal Office has attached nine immovable properties worth Rs 30.5 crore approximately on Tuesday in the name of Kalpataru Group companies and the entities associated with the group under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.”
The statement from Kalpataru Ltd. rejected any connection to the alleged fraudulent activities and stated that the company’s name and trademark have been unlawfully used by a separate group of individuals.
Kalpataru Ltd. also pointed out that it is in the process of taking further legal action against the group for misusing its trademark and further condemned the actions of the fraudsters, calling them not only a violation of the law but also an attempt to damage the company’s established reputation.
A spokesperson from Kalpataru Ltd., in their official statement, said,
“We categorically deny any association with the fraudulent group misusing the ‘Kalpataru’ name The name “KALPATARU” is an exclusively registered trademark and trade name owned by us.”
“Despite legal and prohibitory injunction order obtained by one of our group companies from the Hon’ble Bombay High Court in the year 2015 (later final order dated 03.05.2016) against the aforementioned fraudsters, they illegally continue to misuse / infringe our trademark to create confusion and benefit from our group’s reputation and goodwill. The gross misuse of its registered and well known tradename and/or logo is both not only in contravention of the order of Hon’ble Bombay High Court (Order copy attached) but also misleading and mischievous. Kalpataru group is in the process of taking necessary legal resources against them,” the statement from Kalpataru Ltd. added. (ANI)
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