After a five-year legal battle, BharatPe Group and PhonePe Group settle their dispute over the trademark suffix "Pe." Announced jointly on Sunday, the resolution concludes all legal matters concerning the trademark, with both companies withdrawing oppositions in the registry and ending ongoing court proceedings.

"We look forward to supporting Nalin Negi in his new role and are grateful for his tremendous contribution as the interim CEO. His extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership, makes him a natural choice to lead the company," BharatPe, Chairman of the board, Rajnish Kumar said.

The ministry had begun an enquiry as a fact-finding exercise into alleged corporate governance lapses at the company in 2022, after a public spat broke out between its Board and founder Ashneer Grover