Onida Electronics announced that an understanding has been reached between the Company and one of the permanent workers' unions representing the majority of workers employed at the Company's factory situated at Kudus, Wada, Palghar District, Maharashtra, for mutual settlement.

Pursuant to the aforesaid understanding, majority of permanent workmen employed at the Wada factory have tendered their resignation from the services of the Company and have agreed to the terms of the mutual settlement.