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| Exchange Disseminated Time | Elgi Equipments Ltd has informed BSE that:
"Patton’s, Inc. a - subsidiary of the company in U.S.A. brought a lawsuit last year in the Mecklenburg County Superior Court, North Carolina, U.S.A. which was assigned to the North Carolina Business Court. This lawsuit alleged a number of claims against Quincy Compressor LLC, among other defendants, surrounding the events that unfolded after the Company purchased Patton’s, Inc. in November 2012. The lawsuit has now been settled. The settlement is confidential and the company believes, on the basis of the advice of the Board members of Patton's, Inc. and their legal counsel, that the settlement was in the best interest of the Company. We are pleased to inform that the lawsuit has been brought to a satisfactory conclusion." |
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