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SAIL takes legal action against SKS Ispat

Time:[4/12/2014]   Hits:7666
Business Line reported that Steel Authority of India Ltd has taken legal action against Raipur based SKS Ispat for misusing its brand name.

As per report, SAIL has claimed damages worth over INR 300 crore for the illegal and unauthorised use of the SAIL brand and trademark by SKS, which is a conversion agent of SAIL.

SAIL has also invoked the bank guarantee provided by SKS and will forfeit SKS’ security deposit

This is the result of an 18 month crackdown by SAIL’s central marketing organisation against the abuses by conversion agents and re-rollers. 

Engineering consultancy company RITES was part of the investigation as a third party inspector.

Earlier, SAIL lodged cases against two Raipur-based re-rollers, Pankaj Ispat and Alankar Alloys, which were found to be infringing trademark laws. The owners of these two companies were arrested. The Enforcement Directorate seized assets worth INR 7 crore from them last month. The company also initiated proceedings against Hyderabad-based Ramky Infrastructures for using fake SAIL trademarks on TMT bars

Mr Binod Kumar, Director (Commercial) of SAIL, said that “SAIL would like to reassure its valued customers that such instances of misuse of logo and brand name are negligible in comparison to the total volume of material sold by SAIL.”