I think you're right and I believe it is Exide. If we look back to Sobens previous post about their latest presentation http://agoracom.com/ir/Electrovaya/forums/discussion/topics/629970-slide-from-nov-5th/messages/1976246#message we can see a new company on the presentation-Exide. Exide is coming out of chapter 11 and has very little money so I believe electrovaya is lending them the money to buy in. Although Exide is in financial trouble they are still a big company with connections all over the world. They must have something in the works. Just my opinion.