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| Exchange Received Time 22/05/2017 14:07:33 Exchange Disseminated Time 22/05/2017 14:07:43 Time Taken 00:00:10 | | This is with reference to our letter dated 4th October, 2016 wherein we had provided a clarification to the news item dated 3rd October, 2016 appearing in Economic Times titled 'India, U.S. companies to fight in Supreme Court over Exide Trademark' and media report (source: money control dated 3rd October, 2016) titled 'Indian major in trademark fight with US firm'. It may kindly be noted that we had given a brief background of the ongoing litigation between the 'Company' and 'Exide Technologies', a U.S. based company (hereinafter referred to as 'U.S. Company)', in relation to the usage of the name or mark 'EXIDE' directly or indirectly, in any manner in India. The said 'litigation' is still pending before the Supreme Court for its consideration and disposal. Meanwhile the 'Company' was in discussion with the 'U.S. Company' for an out of court settlement to amicably resolve the long standing dispute. Based on the discussions, the 'Company' has entered into a settlement agreement with the 'U.S. Company' on 19th May, 2017, whereby the 'U.S. Company', subject to fulfillment of conditions mentioned therein, shall forever waive any right or claim to the ownership and/or use of 'EXIDE' mark in India. The above development in this matter does not constitute a 'material event or information' in terms of the approved 'Policy on determination of Materiality for Disclosures' framed by the Company pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. However, the above update is given as an abundant precaution and in continuation to our earlier communication dated 4th October 2016. You are requested to kindly take it in your record. |
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