The Delhi High Court has referred the dispute between Hero Electric and Hero MotoCorp for arbitration. The case pertains to the use of the ‘Hero’ brand name for electric vehicles.
see photosHero Electric tough on dispute with Hero MotoCorp over ‘Hero’ brand for EVs
The Delhi High Court has referred the dispute led by two factions of the Munjal family, Vijay Kumar Munjal and Pawan Kumar Munjal, for arbitration. The case pertains to the use of the ‘Hero’ brand name for electric vehicles. Hero MotocorpLed by Pawan Munjal. Vijay Kumar Munjal, and his son Naveen Munjal, who owns Hero Electrichas opposed the use of ‘Hero’ brand by Hero MotoCorp for its EV business. According to Hero Electric, Hero MotoCorp had opposed the plea to refer the disputes to arbitration.
Read also: Hero Electric moves court to claim ‘Hero’ brand for EV business
Hero Electric is India’s leading electric two-wheeler manufacturer, and opposes Hero MotoCorp’s plan to use the Hero brand for its EV business. Hero Electric says it is against the terms of a family agreement that splits the various branches of Hero Group’s business among four brothers.
“A petition was filed by Hero Electric to refer the disputes for arbitration, which was strongly opposed by Hero MotoCorp. The Court, while rejecting all the submissions of Hero MotoCorp, decided all disputes under family arrangement to a three-member body. Arbitral Tribunal. Considering the context of all disputes between the parties, we will pray for interim injunction against Hero MotoCorp before the duly constituted tribunal. Needless to add that we would like to refer the order of reference to any Will take all possible steps to thwart the challenge. Disputes for arbitration,” Hero Electric said in a statement.
Read also: Hero Electric withdraws petition against Hero MotoCorp: Report
Naveen Munjal – Managing Director, Hero Electric, is opting out of his uncle, Hero MotoCorp’s plan to use the “Hero” brand for Pawan Munjal’s upcoming EV range.
Vijay Munjal, along with son Naveen Munjal, had approached the court in October seeking arbitration, claiming ownership over the use of the ‘Hero’ brand for the electric vehicle business. The issue pertains to the terms of a family settlement in 2010, when the Munjals decided to go their separate ways, with each faction of the family gaining ownership of the businesses they managed. The group was split between brothers, including the late Brij Mohan Munjal, Pawan Munjal’s father; Vijay Munjal’s father Late Dayanand Munjal; Pankaj Munjal’s son OP Munjal is now the Managing Director of Hero Cycles; and Satyanand Munjal, whose sons inherited Munjal Showa, Munjal Auto, Majestic Auto and Satyam Autotech.
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Under the agreement that simplified Hero businesses, Pawan Munjal, who was given Hero MotoCorp, was barred from using the ‘Hero’ brand name for any electric two-, three- or four-wheeled vehicles. Is. Under that agreement, Hero Electric’s global rights are held by Pawan Munjal’s cousin Vijay Munjal and his son Naveen Munjal. Hero Electric has a 36 per cent market share in the Indian electric two-wheeler segment and sold over 65,000 electric two-wheelers in 2021. The understanding is that Hero Electric owns all rights to the EVs with the Hero brand, and as such, Hero MotoCorp should not be able to use the ‘Hero’ brand name for any EV business.
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