To settle a lawsuit filed by US-based luxury fashion house Ralph Lauren in 2013, lifestyle brands subsidiary of Textile maker Arvind Ltd would have to pay $3.2 million.

The Club Monaco and Polo Ralph Lauren maker had filed a case against Arvind Lifestyle and US Polo Association (USPA) in a US District Court, claiming a breach of agreement concerning disclaimers to be made on USPA products sold in India.

In a filing to the Bombay Stock Exchange Arvind held that the companies got "into good faith discussions and agreed to enter into an amicable settlement without admission of liability of any party."

Arvind Lifestyle Brands Ltd is a proprietor of many international brands in India. Recently, it has collaborated with US retailer Gap Inc to sell its apparels in the country.