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Nimmi Singh, Malvinder and Shivinder Singh, representing the Parvinder Singh Group of Ranbaxy, and Max chief Analjit Singh on Monday said in a joint statement that the two sides have reached an "amicable and final settlement with respect to all pending litigation, claims and disputes".
Accordingly, all disputes and claims pertaining to Delhi Guest House, Aurangzeb Road, 1 South End Lane properties; Ranbaxy shares; and the full acceptance of Bhai Mohan Singh's Registered will have been fully resolved, they said.
"Following this, all 33 complaints and suits in various courts are in the process of being withdrawn, some of which go back to early 1990s," the statement said.
The two sides were fighting over the Will of Bhai Mohan Singh, with some court cases dating back to the early 1990s.
Although, both sides were in discussions for an out of court settlement, matters took an ugly turn on July 4 when Nimmi Singh charged Analjit Singh of criminal intimidation and assault over the property feud.
Analjit, in turn, had filed a defamation complaint in a Delhi court against his brother's wife and nephews.
The joint statement, however, made it clear that the two sides have resolved all family issues, except the acceptance of Bhai Mohan Singh's will by Bhai Manjit Singh.
"I am thankful to Analjit for his cooperative, fair approach and for successfully handling the complicated historical issues that have had to be dealt with, in reaching this happy conclusion not only for my sons and me but for our larger family," Nimmi Singh was quoted as saying.
Analjit, upset about the July 4 episode said, "We were very close to reaching a similar settlement in late May. As there is a time for everything, I am now delighted that we have been successful in closing a long and painful saga in our family, which has been going on for the last 15 years."