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Rebranding of SRL into Agilus has come under the scanner with former promoter of Ranbaxy, Shivender Mohan Singh, moving court in the matter.
In a petition submitted to the Delhi High Court, it was submitted that the brand SRL was under the license with SRL Ltd, SRL Diagnostics, Fortis Healthcare and RHC Holding and that they are trying to discontinue with this brand and are moving to some other brand, Agilus.
It was submitted before the court that SRL and allied trade marks are “a valuable asset”, as the same is well recognised in the healthcare industry in India as well as abroad. As per the valuation report, February 16, 2023, the brand value for ‘SRL’ is range of ₹314 crore to ₹428 crore as on March 31, 2022.
Singh, in his submission said, he remains apprehensive that the unwarranted and abrupt disruption in the use of SRL and allied trade marks could lead to severe diminution in the value of brand.
While there is no specific order from the court to go ahead with a rebranding exercise, it was mentioned that not only has the “purported re-branding exercise” been initiated; but also started making public announcements to the tune that ‘SRL has now become Agilus’.
This comes even as the bench, in its order stated, that the respondents “shall not act in any matter to diminish the value of brand SRL.” In light of this, Singh’s lawyers are likely to file a contempt petition.
Out in public
SRL’s announcements include creating or updating the web portal (https://agilus.in) mentioning prominently that ‘SRL Diagnostics’ is now ‘Agilus Diagnostics’, with information being given out about SRL including in the ‘About us’ section; purportedly retaining the web portal srlworld.com but on the home page has prominently mentioned that SRL Diagnostics’ is now ‘Agilus Diagnostics’; creating a YouTube channel ‘Agilus Diagnostics’; reportedly sending automated text messages to general public informing them about the rebranding and also issuing media releases/updates.
Accordingly, the prayer includes that a status-quo be maintained regarding SRL and Allied Trade Marks ‘as existing on 22.09.2022’ till the sale process of SRL and Allied Trade Marks is complete; refrain SRL and Allied Trade Marks being rebranded to ‘Agilus’, and further direct them to immediately withdraw or remove all advertisements and brochures.
SRL is yet to respond to businessline’s queries till the time of this article going to press.
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