Sir, from your reply, I suppose that you are not interested in filing objections for the rejection of mark to be registered. And I suppose you are thinking of using the mark without registration.
Well, registration of trademark is not compulsory. One can use the mark without registration as well. But in case the Company which has registered the similar mark earlier to you and using the mark on its products, thinks to sue to for infringement of their mark then, you will have to prove before court that you are using the mark well before they have registered the mark and you are having profits and also earned goodwill through that mark. It is up to the courts to decide whether there is infringement or not based on the facts and circumstances of the case.
In case, if you fail to prove that you are in the market earlier to them with the mark in question, then there is chance that they will prove infringement. Proprietors who have long standing in the market will not be affected by proprietors who have got the mark registered later than them. There is every chance that courts allow both of them to continue with the mark.