Sterlite Technologies gets ex-parte ad-interim injunction against HFCL

Sterlite Technologies Limited ('STL' or 'the Company') has secured an ex-parte ad-interim injunction against Himachal Futuristic Communications Limited (HFCL) in a patent infringement litigation filed in Delhi High Court.

The Court has restrained HFCL, its subsidiaries, directors, servants, agents, licensee or any related / parent companies, dealers, stockists and distributors and/or anyone claiming any right through any of them, restraining them, jointly and severally, in any manner, from making, manufacturing, using, offering for sale, selling, exporting and importing the optical fibre cables covered under the STL's Patent no. lN 335369 in India, as it may amount to infringement of the said Patent that is related to STL's Multitube Micro Cable technology.

The Court-appointed Commissioners visited HFCL premises on 19th Jan 2022 to verify the extent of the infringement and for appropriate seizure action. The Commissioners have taken samples of the infringing optical fibre cables for submitting before the Hon'ble court along with the report.

The product in question - STL's Multitube Micro Cable technology is a part of STL's optical networking solutions. This product wasresearched and developed in-house and has been integral to many large-scale digital networks built by STL's diverse customer base. The Company currently has a global patent portfolio of 678 protecting STL's innovative technologies across optical networking, system integration, 5G, and wireless solutions. STL is committed to protecting and stopping unauthorised use of its patented technology solutions by taking all possible actions in accordance with the law.

Shares of HFCL Limited was last trading in BSE at Rs. 88.20 as compared to the previous close of Rs. 89.35. The total number of shares traded during the day was 2176831 in over 12084 trades.

The stock hit an intraday high of Rs. 91.00 and intraday low of 87.35. The net turnover during the day was Rs. 193754024.00.

Shares of Sterlite Technologies Limited was last trading in BSE at Rs. 249.40 as compared to the previous close of Rs. 269.70. The total number of shares traded during the day was 492728 in over 13762 trades.

The stock hit an intraday high of Rs. 273.70 and intraday low of 247.60. The net turnover during the day was Rs. 126609014.00.

Source : Equity Bulls

Keywords

HFCL INE548A01028 SterliteTechnologies INE089C01029 Injunction PatentInfringmentLitigation