TAFE Secures Status Quo Order Amid Brand Dispute with AGCO

Tractors and Farm Equipment Ltd (TAFE) received a status quo order from a Chennai court regarding the use of the Massey Ferguson brand in India, amidst a legal dispute with its US-based partner AGCO Corporation. TAFE has filed a contempt petition against AGCO for terminating various agreements.

Chennai-based Tractors and Farm Equipment Ltd (TAFE) secured a status quo order from a Chennai court on Monday, ensuring uninterrupted usage of the Massey Ferguson brand in India. The court decision comes as TAFE's US-based partner, AGCO Corporation, abruptly terminated several agreements with TAFE, including a brand license, distributor, and intellectual property licenses.

TAFE's Managing Director, Mallika Srinivasan, confirmed that a contempt of court petition has been filed against AGCO for this termination. She argued that AGCO's actions are an attempt to undermine Indian investor influence within the company, led by its CEO Eric Hansotia.

TAFE, India's second-largest tractor manufacturer, has been synonymous with the Massey Ferguson brand in the region since 1960. The company claims AGCO's termination notices are a ploy to stifle TAFE's influence within AGCO, pointing to deeper issues in corporate governance and shareholder engagement.

(With inputs from agencies.)