| <P>Havells India announced that a settlement agreement has been signed between the Company viz. Havells India and the HPL Group and its promoters. </P> <P>This settlement agreement resolves all pending disputes and litigations related to the use of word/ mark 'HAVELLS', including suits filed in various Court(s) including the Delhi High Court and various Special Leave Petitions (SLPs) filed in the Supreme Court. The Hon'ble Delhi High Court had referred these disputes to Mediation, and the settlement was reached and executed yesterday on 8 November 2025.</P> <P>As part of the settlement, the HPL Group acknowledges Havells India & its promoters' absolute rights to the 'HAVELLS' mark since 1971. HPL Group has waived any claims to the 'HAVELLS' mark and has undertaken not to use or challenge the mark in any form. Additionally, the HPL Group has agreed to change the corporate name of its entities, namely, Havell's Private and Havells Electronics , to names not containing 'HAVELLS.' </P> <P>As a onetime full and final settlement, Havells India will pay an amount of Rs. 129.60 crore to the HPL Group. </P> |