$~26 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of decision: 26^th March, 2025 + CS(COMM) 71/2024 with I.A. 1822/2024 PEAK XV PARTNERS ADVISORS INDIA LLP & ANR. .....Plaintiffs Through: Mr. Akshay Maloo, Mr. Yatinder Garg and Ms. Astha Sehgal, Advocates.

versus JOHN DOE & ORS. .....Defendants Through: Mr. Vedansh Anand, Advocate.

CORAM:

HON'BLE MR. JUSTICE AMIT BANSAL AMIT BANSAL, J. (Oral)

1. The present suit has been filed seeking relief of permanent injunction restraining the defendants from passing off the trademark, along with other ancillary reliefs.

CASE SETUP IN THE PLAINT

2. Plaintiff no. 1, Peak XV Partners Advisors India LLP, formerly Sequoia Capital India LLP, is a venture capital and investment advisory firm that advises foreign funds investing in India and Southeast Asia under the brand ‘PEAK XV PARTNERS’.

3. Plaintiff no. 2, Peak XV Partners Operations LLC, formerly Sequoia Capital India Operations II LLC, is a Mauritius-based company regulated by Signature Not Verified Digitally Signed CS(COMM) 71/2024 Page 1 of 10 the Mauritius Financial Services Commission as an ‘Investment Advisor (Restricted)’.

4. The plaintiffs provide investment advisory services to funds supporting startups across various sectors, including artificial intelligence, machine learning fintech, health-tech, climate-tech etc. across India and SouthEast Asia.

5. The plaintiff no.1 started its operations in India in 2006 as ‘Sequoia Capital India’, as an authorized user of ‘Sequoia Capital’. In June 2023, Sequoia Capital & SEA was rebranded to PEAK XV PARTNERS.

6. It is stated that the brand name ‘PEAK XV’ is inspired by the original moniker given to Mount Everest in the 1850s by the British Survey before it was officially renamed. For the plaintiffs, the name ‘PEAK XV’ symbolizes the relentless pursuit of excellence by its founders despite challenges.

7. Since its rebranding to ‘PEAK XV PARTNERS’ in June 2023, the Plaintiffs have invested substantial efforts and resources in promoting and establishing the brand as a distinctive mark associated with its longstanding reputation in India. These efforts have been widely covered by third-party media platforms, which are detailed in paragraph 16 of the plaint.

8. The plaintiff no.2 has applied for trade mark registration for its word and device marks ‘PEAK XV’ and the same is currently pending consideration before the Trade Marks Registry. The details of the trademark application are given in paragraph 19 of the plaint.

9. The plaintiffs operate the website www.peakxv.com, registered by the plaintiff no.2 on June 5, 2023. The website prominently displays the Signature Not Verified Digitally Signed CS(COMM) 71/2024 Page 2 of 10 trademarks, ‘PEAK XV PARTNERS’ , and provides information about its team, investment programs, and portfolio companies.

10. Plaintiff no.1 also maintains active social media accounts on platforms like Twitter (now X) and Instagram, where the ‘PEAK XV PARTNERS’ trademarks are consistently featured.

11. It is stated that the plaintiff no. 1 has played a pivotal role in India's venture capital landscape, making significant investments in companies such as Groww, Meesho, Razorpay, Oyo Rooms, Zomato, FreeCharge, Just Dial, Equitas Holdings, Citrus Payment Solutions, and Urban Ladder, among others. Over the years, the plaintiff no.1 has advised thirteen (13) funds that have invested in over 400 startups, with more than fifty (50) portfolio companies valued at $1 billion. The firm has also facilitated nineteen (19)

IPOs and M&A deals, generating $4.5 billion in realized exits.

12. On June 6, 2023, as part of a global restructuring, Sequoia Capital Operations, LLC and plaintiff no.2 announced the division of Sequoia Capital into three independent entities focusing on different regions. Consequently, plaintiff no.1 and plaintiff no.2 transitioned into autonomous entities ‘PEAK XV PARTNERS’. It is averred that the firm's senior management, well-regarded in the industry, continues to drive the plain