Indian Court Rules in Favor of Sarine

Singapore Exchange Mainboard and Tel Aviv Exchange listed Sarine Technologies Ltd, 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, wishes to inform the public that an Indian court has ruled against the illegal use of pirated Advisor® software.

Following the lawsuit filed by Sarine and the subsequent court-ordered raids, as previously announced on 19 May 2022, the court has found five manufacturers in Surat guilty of copyright infringement and the illegal use of pirated Advisor® rough planning software. Due to the severity of the issue and the clear-cut evidence collected during the raids, the court issued a quick and final judgement against the infringers - Gopi Impex, Nirghay Impex, Pramukh Gems, Dhiren Diamonds and Bhumika Gems. The court further ordered the immediate removal of the infringing software from the infringing parties’ computers. The court decision makes clear that the use of unlicensed or pirated versions of Advisor® software is illegal.

David Block, Chief Executive Officer of Sarine, stated, "We are encouraged by the swift and decisive action taken by the Indian court. The court’s ruling has made it clear that any company using unlicensed or pirated Advisor® software is breaking the law. We intend to aggressively protect our IP and will continue taking action against any entities involved in infringement.”