 In January 2013, Exide Industries acquired 100% of the equity capital of ING Vysya Life Insurance.In May 2014, the name of ING Vysya Life Insurance Company Limited was changed to Exide Life Insurance Company Limited.This company was incorporated as Associated Battery Makers (Eastern) Ltd., on "31 January 1953" under the Companies Act, 1913 to purchase all or any of the assets of the business of manufacturers, buyers and sellers of and dealers in and repairers of electrical and chemical appliances and goods carried on by the Chloride Electric Storage Company (India) Ltd., in India, since 1916 with a view thereto to enter into and carry into effect (either with or without modification) an agreement which had already been prepared and was expressed to be made between the Chloride Electric Storage Co. (India) Ltd. on the one part and the company of the other part.