Report

The Bombay High Court has ordered Aquapeya, a packaged water brand that raised Rs 70 lakh from Shark Tank judges Namita Thapar and Ritesh Agarwal, to immediately stop manufacturing and selling its products. The order follows a lawsuit filed by Bisleri International. Bisleri, the market leader in India’s packaged water sector, filed a lawsuit against Aquapeya and its parent company, Natvits Beverages, after an episode of Shark Tank aired on January 20. The application, seen by ET, accused Aquapeya of infringing Bisleri’s registered trademark and copyright by using pirated artwork. Bisleri claimed that Aquapeya admitted to exploiting the goodwill of established brands to promote their product.

Aquapeya’s Deal on Shark Tank

Aquapeya secured a Rs 70 lakh investment for 3% equity and a 1% royalty from Thapar, an executive director at Emcure Pharmaceuticals, and Agarwal, the founder of OYO Rooms. The deal valued the company at Rs 23.33 crore. The court directed Aquapeya to cease all manufacturing, packaging, distribution, marketing, and sales of its packaged water brand. Shark Tank, a show that airs on Sony Entertainment Television and Sony LIV, features entrepreneurs pitching their businesses to industry leaders in the hopes of securing funding.

Shark Tank Episode Sparks Controversy

In the episode, the judges questioned Aquapeya’s founders, Tushar and Ravi Mundada, about the brand’s similarities to well-known water labels. The founders explained that they chose a green color to align with consumer recognition of popular water brands like Bisleri. They revealed that they launched the brand in 2018 after leaving their previous businesses and found that certain regions preferred water brands based on color.

Concerns Raised Over Show’s Integrity

The episode has raised questions about the ethics of allowing a contestant accused of intellectual property infringement to pitch on such a public platform. Legal experts are questioning the endorsement of a business model based on copying established brands.

Source: The Economic Times