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Kalpataru Ltd, an integrated real estate company, on Sunday issued a statement saying that it was seeking legal recourse against the accused of a ponzi scam in Uttar Pradesh for fraudulently using their trademark and tradename.
In its statement, the group said: "We categorically deny any association, in any manner whatsoever, with the fraudulent group (Uttar Pradesh-based group) mischievously using our trademark and tradename 'Kalpataru'. The name "KALPATARU" is an exclusively registered trademark and tradename owned by us recognized by the Hon'ble Bombay High Court and the Registrar of Trade Marks, duly protected under Indian laws. 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 culminated into final order dated 03.05.2016) against the said fraudsters, they illegally continue to misuse / infringe our trademark/tradename to create confusion and benefit from our group's reputation and goodwill." "The misuse of our tradename and trademark is 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 recourses against these fraudsters." A spokesperson for Kalpataru Ltd said," the statement added. The Enforcement Directorate had on December 19 posted on X about its search operations in parts of Uttar Pradesh. https://x.com/dir_ed/status/1869723501122449498 "ED, Lucknow has conducted search operations on 18/12/2024 at 16 premises in Agra, Mathura and Noida, Uttar Pradesh of Mithilesh Singh wife of main accused late Jai Kishan Rana, his close associates, Chartered Accountants, brokers and agents namely Suman Prabha Sharma, Devender Garg, Harendra Tarkar, Ramveer Tarkar, Prakhar Garg, Shivam Agrawal and others in relation to a Ponzi scheme/MLM case floated by Kalpataru Group of Companies," ED said in a post on X. "During the search operations, unexplained cash amounting to Rs. 1.02 Crore, sale deeds/documents of 88 immovable properties, digital/electronic evidence have been found and seized," it added. (ANI)
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