The development comes a month after Bisleri, which leads the packaged water category in India, filed a suit in the Bombay High Court against Natvits Beverages which makes Aquapeya.
The matter came to light after an episode on Shark Tank’s Season 4 was aired on January 20.ET has seen a copy of the application filed by Bisleri in the Bombay High Court, which stated that Aquapeya “infringed its registered trademark and copyright by using pirated artworks, as well admitted about cashing-in on the goodwill of the bigger players in the market” on Shark Tank. “The trademark and associated artistic work is deceptively similar to the registered trademark Bisleri,” Bisleri had said in its application to the court.
Aquapeya had secured a deal of Rs 70 lakh for 3% equity and a 1% royalty from the show’s judges and entrepreneurs Namita Thapar and Ritesh Agarwal. The transaction valued the company at Rs 23.33 crore. While Thapar is executive director of Emcure Pharmaceuticals, Agarwal is founder of OYO Rooms.
The court has directed Aquapeya “to stop manufacturing, packaging, distributing, marketing, selling the packaged drinking water brand”.
The reality show, which airs on Sony Entertainment Television and Sony LIV, is based on a model where emerging entrepreneurs are interviewed by established industry executives to evaluate if their business proposals can be financed. In the episode, the judges questioned the promoters of Aquapeya on why they copied well-known brands to sell their products. The promoters of Aquapeyasaid they “used the same green colour” (as Bisleri) because consumers identify with it. The two Maharashtra-based founders of Aquapeya, Tushar and Ravi Mundada, said that they launched the brand in 2018 after quitting their previous businesses. They said on the episode that after ‘studying the market’, they found that some territories have preferred water brands based on colour.“The episode also raises questions about the show’s judges in allowing such a contestant on a public platform as well as endorsing a business model based on IP infringement,” a lawyer at a leading legal firm said, requesting not to be named, citing confidentiality clauses.
