UPL has announced that the Supreme Court of Queensland in Australia has dismissed a class action litigation against Advanta Seeds Pty Ltd, Company’s subsidiary in Australia.
This class action, funded by a UK based litigation funder, alleged that seeds sold by Advanta in 2010/2011 to certain growers in Queensland and News South Wales region of Australia, were contaminated.
In its regulatory filing, UPL said that Advanta Seeds management can confirm that the Queensland Supreme Court has ruled in favour of
Advanta Seeds. UPL added, "We are pleased with the decision."
Our team has continued to work closely with growers in the interests of improved crop productivity and farm management, " UPL added.
UPL further said, "From here, we intend to continue to invest in research, technology and new products and support those hardworking farming businesses who are the backbone of Australia’s agricultural sector."
At around 2.21 pm, UPL was trading at Rs606.75 per piece up by 0.4% on Sensex.