Policybazaar fined Rs 10 lakh for concealing facts

TIL Desk/Business/New Delhi/ The Delhi High Court has slapped a Rs 10 lakh fine on Policybazaar, an online platform that aggregates insurance plans and serves as a marketplace for policies, for concealing facts to obtain a favourable order in a trademark infringement case filed by it against an insurance company.

“The stature of a party or enormity of the claim should not be a constraint for the court to advance the cause of justice. Courts should not allow a party to get away with concealment of material facts when it comes to matters relating to grant of relief that are founded on principles of equity,” Justice Sanjeev Narula said in a May 28 order while imposing fine.

The court asked the firm to deposit Rs 5 lakh with the Prime Ministers Relief Fund and other Rs 5 lakh with Delhi Legal-Aid Services Authority.  On May 16, the court had restrained Acko General Insurance from using the trademark ‘policy bazaar’ in any manner or form or combination or as an adword/key word programme through Google.