![]() The settlement reached between the two companies has also released the four employees, three of whom still work with Thermax. Later, the official heading Thermax’ ion-exchange resins said he had retained documents from Purolite, which Thermax made him return. Purolite claimed these employees had misappropriated trade secrets following which Thermax entered into a stipulated temporary restraining order that it would not use any of the Purolite information. ![]() Tracing the history of the dispute, Thermax said the dispute began following a lawsuit filed by Purolite in the eastern district court of Pennsylvania in 2005 after four of its employees joined Thermax US in its ion-exchange division. Anu Aga, director, Thermax, added: “We want to focus on the future rather than on the past. While top management declined to speculate on the cash spent so far, over the past five years on the case, they admitted that this was the faster, cleaner and eventually cheaper alternative. The last instalment will be paid by December 2010, so that the next financial year is clean. Under the terms of the settlement, Thermax will pay Purolite four instalments of $9.5 million each, starting with the first instalment in April which will be charged to the profit and loss account. “Our options were either to continue with the defence at the jury trial and beyond by way of filing an appeal should the trial be unfavourable, or resolve the matter out-of-court. Meher Pudumjee, chairperson, Thermax, said that they then evaluated their options. ![]() Should Thermax have continued with its court case, the court could, under certain circumstances, have imposed three times the damages plus litigation costs, etc. ![]() The case was coming up for a jury trial on March 1 in a US district court and we decided that instead of a jury trial, with its costs, management time and stress, it was better to settle out-of-court,” MS Unnikrishnan, managing director, Thermax, said.īriefing reporters, Mr Unnikrishnan said that last month, a US district court passed an order that three disputed production processes, for certain kinds of ion-exchange resins for applications in water treatment, constituted Purolite’s trade secrets. “The amicable settlement allows us to get on with life. ![]()
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