Tilaknagar Industries shares nosedive 20% as Bombay HC dismisses company's plea related to Mansion House brand

The shares of Tilaknagar Industries plunged 20 percent to get locked in the lower circuit at Rs 293.40 apiece on February 10. This comes after the Bombay High Court on February 7 dismissed the company's plea against other firms using its trademark brand names 'Mansion House' and 'Savoy Club' on their products.

Tilaknagar Industries had filed the petition, alleging that Herman Jansen Beverages Nederland B.V. and others used its trademarked names on its alcoholic products to "pass off their business and goods as and for those of Tilak Industries". The Bombay High Court has dismissed its petition on the same.

The Bombay High Court has also allowed Allied Blenders & Distillers to introduce products bearing the name 'Mansion House' in West Bengal. However, it has put a stay on the order for four weeks, allowing time for Tilaknagar Industries to file an appeal against the same.

"The status quo as of this date remains with Tilaknagar Industries continuing its uninterrupted use and sale of the brand MANSION HOUSE whilst preparing for filing an appeal against the concerned order before the Division Bench of Bombay High Court. As per its internal assessment, the Company does not expect any financial impact on its business and is taking requisite steps to safeguard its interests," Tilaknagar Industries said in an exchange filing.