Singapore Exchange Mainboard and Tel Aviv
Exchange listed Sarine Technologies Ltd
(“Sarine” and along with its subsidiaries “the
Group”) (U77:SI; SARN.TA), a worldwide leader in
the development, manufacturing, marketing and sale
of precision technology products for the evaluation,
planning, processing, measurement, grading and
trading of diamonds and gems, has further expanded its
enforcement efforts against intellectual property (IP)
piracy in India by taking additional legal actions
against suspected infringers.
Sarine has filed additional lawsuits against a number of
Indian entities including Pramukh Gems, Samarth
Diamond, Gopi Impex, Nirbhay Impex, Hari Krishna
Laser Technlogy, Dhiren Diamonds and Bhumika
Gems. The court granted ex-parte orders for court
appointed commissioners to visit the premises of the
alleged infringers to ascertain the presumed facts. The
said court-ordered raids were executed on 18 May
2022 at eight various locations.
At this point Sarine is not in a position to disclose any
additional details about the executed factfinding
searches owing to undertaken confidentiality
commitments and as the court proceedings are subjudice.
However, it is believed that the court
commissioners were able to find materials, relating
both to hardware and/or software, which appear to be
infringing its patent and copyright IP.
David Block, Chief Executive Officer of Sarine,
stated, "For the past thirty-plus years, Sarine’s
innovative and ground-breaking technologies have
supported the diamond industry in India and led to ever
increasing levels of manufacturing sophistication,
higher yields and better quality, all at reduced levels of
risk, thereby enhancing its profitability and propelling
it to effectively dominate world diamond production. It
is unfortunate that unscrupulous parties are tainting the
entire Indian diamond industry. We are encouraged by
the court's swift action, its understanding of the gravity
of the situation and its granting of immediate steps to
protect Sarine’s legal rights. We are hopeful that the
measures necessary to halt these blatantly illicit
practises will be implemented not only to rightfully
protect Sarine's substantial investments in its IP, but
also to safeguard the integrity of India’s diamond
industry that relies so heavily on the public’s trust, and
to enable Sarine to continue developing ever more
advanced technologies for the diamond industry.”