Tilaknagar Industries clarified on news item appearing in the leading financial daily titled, "Allied Blenders buys Mansion House, Savoy Club rights"

"The assignment of the trademarks (Mansion House and Savoy Club) during pendency of judicial proceedings is illegal. Neither the assignors (Herman Jansen) nor the assignee (ABD) are entitled to use the trademarks Mansion House and Savoy Club as such use would tantamount to violation of TI's rights in the trademarks Mansion House and Savoy Club, which have been upheld by the Bombay High Court.

As regards future course of action, TI will be guided by appropriate legal advice and will take all necessary actions to protect their interest.

As regard to the acquisition of stake in TI by ABD, we are unable to comment on market speculation and wish to clarify that, given the nature of TI's business, sector dynamics and to make business progress, the company at several time points is exploring various types of business associations, tie-ups, relationships etc. across players in the domestic and international markets, which may or may not fructify.

Should there be any material development that requires us by law to make any formal statement in any manner in connection with any such activity that may transpire, the company will comply, share and make the announcements at the appropriate time in line with the best practices disclosure guidelines," the company said.

Shares of the company gained Rs 0.05, or 0.11%, to trade at Rs 45.15. The total volume of shares traded was 492,867 at the BSE (12.52 p.m., Friday).