Pine Labs Refutes Allegation of Patent Infringement
Point-of-sales payments solutions company Pine Labs on Monday hit back at Innoviti Payment Solutions Pvt. Ltd, refuting allegation of any patent infringement for technology enabling Unified Payments Interface (UPI)-based payments at POS terminals.
Innoviti CEO Rajeev Agrawal last week said it had sued Pine Labs mainly to stop it from using its patented technology.
Innoviti filed the case in City Civil Court, Bengaluru and was granted an ex-parte ad interim injunction against Pine Labs.
Pine Labs appeared before the court in Bengaluru on Monday, refuting allegation of "patent infringement IN309274 and to confirm its non-infringing status in the matter".
"As leaders in this industry we will defend against such frivolous and anti-competitive legal actions as well as challenge the legitimacy of such generic patent grants," said the company.
"Pine Labs respects intellectual property rights and shall continue to comply with the law of the land. We will continue to defend our position before the authorities and ensure uninterrupted business for our customers," it added.
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