"The company was in discussion with the US company for an out of court settlement to amicably resolve the long standing dispute," the battery manufacturer said in a regulatory filing.
It also said: "Based on the discussions, the company has entered into a settlement agreement with the US company on May 19, 2017, whereby the US company, subject to fulfilment of conditions mentioned therein, shall forever waive any right or claim to the ownership and/or use of Exide mark in India."
The city-based battery maker said that "litigation is still pending before the Supreme Court for its consideration and disposal".
The legal proceeding was going on for more than 19 years.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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