Delhi High Court Investigates SRL’s Name Change to Agilus
- In his statement, former SRL promoter Shivendar Mohan Singh expressed his ongoing worry about the sudden and unjustifiable discontinuation of using SRL and its associated trademarks. He raised concerns that this move could significantly devalue the brand.
The name change of SRL to Agilus is being closely examined due to a legal case filed by Shivender Mohan Singh, a former promoter of Ranbaxy.
According to the lawsuit presented in the Delhi High Court, it was alleged that SRL Ltd, SRL Diagnostics, Fortis Healthcare, and RHC Holding had a license for the SRL brand but were now attempting to discontinue its use in favor of Agilus.
During the court proceedings, it was emphasized that SRL and its associated trademarks are considered a valuable asset due to their widespread recognition in the healthcare industry, both in India and abroad. The brand’s value for “SRL” as of March 31, 2022, was estimated to be between 314 crore and 428 crore, according to a valuation assessment conducted on February 16, 2023.
Singh expressed his ongoing concern that the sudden and unwarranted discontinuation of using SRL and its related trademarks could lead to a significant decrease in the brand’s value.
Even though there isn’t a clear directive from the court to move on with a rebranding effort, it was mentioned that not only has the “purported re-branding exercise” begun, but also public announcements to the effect that “SRL has now become Agilus” have also begun.
In its order, the bench said that the defendants “shall not act in any matter to diminish the value of brand SRL.” This has happened at the same time. Singh’s attorneys will probably submit a contempt petition in light of this.
Out in public
Even though there isn’t a clear directive from the court to move on with a rebranding effort, it was mentioned that not only has the “purported re-branding exercise” begun, but also public announcements to the effect that “SRL has now become Agilus” have also begun.
In its order, the bench said that the defendants “shall not act in any matter to diminish the value of brand SRL.” This has happened at the same time. Singh’s attorneys will probably submit a contempt petition in light of this.
SRL has made several announcements regarding their rebranding efforts. These include creating or updating the website (https://agilus.in), where it is prominently mentioned that “SRL Diagnostics” is now “Agilus Diagnostics” and providing information about SRL in the “About us” section. They have also claimed to retain the website “srlworld.com,” where the home page prominently states that “SRL Diagnostics” is now “Agilus Diagnostics.” Additionally, they have established a YouTube channel named “Agilus.”
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The request made seeks to maintain the current state of SRL and its associated trademarks, as they were on September 22, 2022, until the sale process of SRL and the associated trademarks is finalized. The plea also asks that they refrain from adopting the name “Agilus” and promptly withdraw or remove all their marketing materials.
