Exide Settles Trademark Dispute With Vertiv Company Group And Vertiv Energy
Vertiv Company Group and Vertiv Energy will not make use of the trademark Chloride mark in India, either directly or indirectly.
Exide Industries Ltd. has settled the trademark dispute with the U.K.'s Vertiv Company Group Ltd. and India's Vertiv Energy Pvt. before the High Court of Delhi.
According to the agreement, VCGL and VEPL have agreed that the trademark Chloride and its variants in India are registered in the name of Exide, according to an exchange filing issued on Friday.
VCGL and VEPL will not make use of the trademark Chloride in India, either directly or indirectly, and will take back all its claims over the mark, the filing said.
The settlement didn't have any financial impact on the company. It was already making use of the trademark for its electronic products from the time the case started in 2006, due to the ex-parte injunction granted in its favour by the Delhi High Court, according to the filing.
Shares of Exide Industries closed 3.31% higher at Rs 281.15 apiece, as compared with a 0.28% fall in the benchmark BSE Sensex.