Statement From Pratibha Syntex Ltd on Settlement of Court Case Between the People of the State of California, United States V/s Pratibha Syntex Ltd

NEW DELHI, December 31, 2015 /PRNewswire/ --

Mr Ashok Jain, Head, Legal and Commercial, Pratibha Syntex said, "It has come to Pratibha Syntex Ltd's ('PSL') notice that the California Attorney General issued a press release regarding a settlement that was entered into in a court case pending between the People of the State of California v. PSL and others. Certain statements made in the press release are incorrect. PSL did not engage in any illegal business practices that disadvantaged California garment companies. In addition, PSL maintains that the California Attorney General did not have jurisdiction to apply the California Unfair Competition Law extraterritorially to conduct occurring solely in another sovereign nation, and a motion to dismiss the action was pending at the time of settlement.

The Judgment of the Superior Court of the State of California, which incorporates the parties' Settlement Agreement, states that PSL entered into the settlement without any admission regarding any issue of fact or law to avoid further expense, inconvenience, and the distraction of burdensome and protracted litigation. The Judgment specifically records that PSL has never admitted any claims made against PSL and has specifically denied any liability from any claims arising from such allegations. Further, the settlement was entered into by PSL without waiving any personal jurisdiction defenses it had against the State of California. Finally, the 'Settlement Fund' to be paid has no mention of any 'penalty' as suggested in some press reports regarding the settlement. PSL simply made the decision that it could not afford the excessive expense of litigating in a United States court and, as a purely financial matter, had no option but to settle."

About Pratibha Syntex 

Pratibha Syntex is a large vertically integrated, sustainability oriented supplier of knitted textile products including organic. Engineering a new business paradigm, the company streamlines the production of cotton from fiber-to-garment to reflect emerging sustainable values in textiles and fashion. Driven by a strong progressive vision, Pratibha is committed to creating relationships across the value chain.

Pratibha is engaged in the following manufacturing activities:

• Yarns: State-of-the-art facility manufactures ring spun, compact, double, mélange, airjet and open end yarns - all at one place.

• Fabrics: Specializing in a variety of fabrics - single jersey, fleece, rib, pique, etc. of open width and tubular fabric. Resource efficient fibre and fabric dyeing techniques help creating wide shades, considerate to the environment using cold-pad-batch dyeing & finishing that uses a third of the water and generates half the effluent.

• Garments: Modern and compliant sewing factories are capable of producing vide range of knitted garments. Core products manufactured include underwear, sleep wear, thermals, fashion tops and knit bottoms.

Headquarters 301, Apollo Avenue, 30-b Old Palasia, Indore, Madhya Pradesh Pin Code - 452018 India

For more information, visit: www.pratibhasyntex.com or contact: [email protected]

Media Contact:
Swati Srivastava
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Associate Chief Account Consultant
Value 360 Communications