PhonePe’s Post

"If you think Compliance is Costly, Try Non Compliance." Paytm became one of the best example of for this line Compliance is not everyone's cup of tea, qualified and requisite professionals are required to do so. Power of professionals like CS can not be underestimated. #paytm #legal #compliance

Corporate Compliance: Beyond Penalties and Downfalls In the corporate world, non-compliance often makes headlines only after a giant's downfall, but is it the sole culprit? In the wake of giants like Byjus and Paytm facing regulatory scrutiny, the hard truth beyond headlines is that the essence lies in recognizing that appointing professionals isn't a silver bullet for adherence. Compliance isn't just a checkbox – it's about cultivating a culture that respects the law. Often, corporates view penalties as a quick fix, but it's crucial to understand that non-compliance is a symptom, not the sole cause of downfalls. Emphasis needs to be led for proactive measures, urging boards to take the law seriously before crises unfold. The downfall narrative isn't just about breaches; it's about a multifaceted entity facing challenges that demand attention. #corporatecompliance #businessinsights #icsi #vaishalipatodia

After being penalized for compliance misdeeds by regulators, Paytm now constitutes an Advisory Committee to look into its compliance matters...is it a case of a little too little too late? Highlighting the importance of taking compliance seriously by Boards, ensuring good governance practices and clean economic growth, building trust in the Indian business ecosystem. #compliance #boardleadership #boardofdirectors #independentdirector #percyvaid

RBI Governor Shaktikanta Das on Paytm mentioned that it was not a case of Regular Deficiency but issue of Compliance. I really feel all companies should re-evaluating their approach towards compliance. Compliance is not merely a box-ticking exercise but a strategic imperative that can make or break an organization. It's about creating a culture of accountability, transparency, and ethical conduct. One must understand that companies that prioritize compliance not only avoid costly penalties and reputational damage but also gain a competitive edge in the marketplace. Together, let's foster a culture of compliance that drives sustainable growth and long-term success. #ComplianceMatters #BusinessEthics #CorporateGovernance

>Upholding ethical standards is crucial for long-term success. The emphasis on ethical practices in the Tata Group highlights the significance of integrity in Indian business leadership. > Mitigate risks diligently to safeguard your business. Indian banks' proactive risk management measures during economic challenges in 2008 showcased resilience and stability. >Embrace opportunities, even if unconventional, for business growth. Flipkart's innovative approach to e-commerce, despite initial skepticism, positioned them as pioneers in the Indian market. >Prioritize sustainable practices over immediate profits. Tata Group's commitment to sustainable development reflects in its long-term success and positive reputation. >Social responsibility is integral to a company's reputation. Infosys' initiatives in education and community welfare contribute to its positive brand image. >Adhering to legal standards is essential for business continuity. Adherence to regulatory standards has been a key focus for pharmaceutical companies like Sun Pharma to maintain credibility. >Building and maintaining customer trust is a competitive advantage. Reliance Jio's customer-centric approach has played a pivotal role in its rapid rise in the Indian telecommunications sector.

The recent saga of Paytm, where it shed approximately $2.5 billion in market capitalization over a mere three-day period, serves as a stark reminder that the cost of compliance consistently falls short of that of non-compliance. The pace of growth should not come at the expense of adherence to regulations. Corporate entities casually disregarding compliance should heed this reality: Compliance not only nurtures trust but also drives progress and secures the longevity of the entity. It does not merely impede progress; instead, it mitigates risks while fostering innovation. Compliance safeguards value, extending beyond the mere avoidance of fines and penalties. Do not relegate compliance to an afterthought; elevate it to the cornerstone of your corporation. #governance #compliance #rbi #legal #lawyers #generalcounsel #regulatorycompliance

Dear Connections, Stay tuned to meet me on 7th Dec'23 where I will be sharing my insights on designing a ""Holistic CX plan"" and craft a ""Customer Centric Culture"" !!!! Team Marksmen Network #customercentricity #customerinsights #customerexperience #leadershiplessons #cxtransformation

UPI payments giant PhonePe and BharatPe Group have "amicably settled" all long-standing legal disputes related to the use of the trademark with the suffix 'Pe'. Both companies have been involved in a prolonged legal battle across multiple courts for the past five years. The settlement will end all ongoing judicial proceedings. Read the full story here: 👇 https://lnkd.in/dg36Peas #bharatpe #phonepe #legal #law #company #fintech #startup #indianstartupnews

In a landmark resolution that promises to end years of #legal sparring, BharatPe Group and PhonePe Group have finally buried the hatchet over their contentious use of the ‘Pe’ suffix. Announced on May 26, 2024, this truce not only marks the cessation of all open judicial battles but also signals a fresh start for both fintech giants. The settlement follows a saga that started in August 2018, when #PhonePe accused #BharatPe of #trademarkinfringement. The feud escalated to the Delhi @HighCourt, which, in a dramatic twist in April 2021, ruled in favour of BharatPe. The court’s decision to deny PhonePe’s plea for an interim injunction underscored that aside from the common ‘Pe’ suffix, the trademarks were not confusingly similar, given the distinctiveness of ‘Phone’ and ‘Bharat.’ Despite this setback, PhonePe vowed to fight on, determined to defend its brand. Fast forward to #2024, the two titans have decided to withdraw all trademark oppositions, paving the way for a harmonious coexistence. This resolution not only quells the courtroom drama but also allows both companies to focus on their core missions without the shadow of litigation looming over them. Cheers to a new chapter in India’s competitive fintech landscape! #PeaceOverPe #FintechRivalryResolved #patents #iprs #intellectualproperty #trademark #copyright #networking #learning #lawfirms #ipr #intellectualpropertylaw #ideate #innovation #impact #2024goals #IPLeadership

𝐁𝐡𝐚𝐫𝐚𝐭𝐏𝐞 𝐚𝐧𝐝 𝐏𝐡𝐨𝐧𝐞𝐏𝐞 𝐒𝐞𝐭𝐭𝐥𝐞 𝐋𝐨𝐧𝐠-𝐒𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐓𝐫𝐚𝐝𝐞𝐦𝐚𝐫𝐤 𝐃𝐢𝐬𝐩𝐮𝐭𝐞 BharatPe and PhonePe have reached an amicable settlement, putting an end to their long-standing trademark disputes over the use of the 'Pe' suffix. This resolution marks a positive development for the fintech industry, showcasing maturity and professionalism on both sides. The settlement involves withdrawing all oppositions against each other in the trademark registry, allowing for the registration of their respective marks. Both companies are now focused on complying with the obligations under the settlement agreement, emphasizing growth and collaboration within the Indian fintech sector. ◽What does this mean for the fintech industry? This settlement is a positive development for the fintech industry, as it allows both companies to focus on their respective digital payment ecosystems without the distraction of ongoing legal disputes. It also demonstrates the ability of industry players to resolve complex issues through amicable means, which can lead to a more stable and collaborative environment for innovation and growth. #Fintech #TrademarkDispute #Settlement #BharatPe #PhonePe 🤝📈