In an abrupt end to the dispute involving the Singh family of Ranbaxy Laboratories and Max India, the warring parties on Monday announced that they had reached an 'amicable' and 'final' settlement out of court.
In a joint statement, the two sides -- Ranbaxy's Chief Executive Officer Malvinder Singh, brother Shivinder, and their mother Nimmi on the one hand, and uncle and Max India Chairman Analjit Singh on the other -- said all disputes and claims pertaining to the Delhi Guest House, properties at New Delhi's Aurangzeb Road and South End Lane, Ranbaxy's shares, and late patriarch Bhai Mohan Singh's will had been fully resolved.
However, Bhai Manjit Singh, Analjit's elder brother, said he was not a part of the settlement, and would continue to challenge the will probate filed by Analjit.
While Malvinder and Shivinder declined to divulge the details of the settlement, and Analjit could not be contacted, legal sources said the Southend Lane property would go to the Ranbaxy family, and the Aurangzeb Road property to Analjit.
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