Welspun India has received preliminary court approval for settlement of its litigation in the US with regards to labelling and marketing of Egyptian cotton products.
In May 2019, Welspun India had announced that company and its subsidiaries, which have been facing litigation in the US surrounding its premium cotton home textile products, have entered into a settlement agreement in the US. The settlement agreement provides monetary payments to settlement class members not exceeding $36 million (about Rs 250 crore).
Welspun India is one of the largest manufacturers and exporters of bed & bath textile products globally. The company’s portfolio comprises wide range of home textile products such as terry towels, bed linen (basic bedding and decorative bedding) rugs and bathrobes.
