Exide Industries has entered into a settlement agreement with the US based Exide Technologies over the ownership of ‘EXIDE’ mark in India.

It has said in a regulatory filing that “The company was in discussion with the US company Exide Technologies 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 Exide Technologies on May 19.”

It added that “The US 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.”

Read EquityPandit’s Technical Analysis of Indian Stock Market