Moser Baer files suit against Koninklikje Philips Electronics N.V

Moser Baer India Ltd has announced that it has filed a suit in the Delhi High Court against Koninklikje Philips Electronics N.V.- (Philips) and Philips Electronics India Ltd to declare the Notices issued by Philips and any action taken pursuant thereto as null and void with a plea that Philips be restrained from taking any action pursuant to its notices.

The Company has received Notices from Philips in relation to certain of their patents license agreements for CD and DVD recordable and rewritable formats entered into between the Company and Philips. The Company is challenging these notices as they substantively relate to Philips contract with Imation Corporation (Imation) under which the Company supplies optical media to Imation and its subsidiaries. Imation has filed a Declaratory Judgment Action at the Federal District Court in St. Paul, Minnesota, USA against Philips, U.S. Philips Corporation, and North American Philips Corporation. The Imation complaint seeks a Declaratory Judgment asking the court to reaffirm its cross license with Phillips.

The matter is sub-judice in the high court.

Source : Equity Bulls

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