Ending a two-decade-old rivalry, UB Group chairman Vijay Mallya and Allied Blenders and Distillers chairman Kishore R. Chhabria on Tuesday announced the two have decided to settle all litigations pending in various judicial forums in the country.
As part of an agreement to settle out of court all pending litigations,liquor baron Mallya has managed to get Rs 8 crore from ABD as one-time fee for the latter's Officer's Choice Whiskey.
The consent terms signed by the two companies were filed in the Kolkata High Court on Tuesday.
Expressing satisfaction over the settlement, Chhabria said that even though he was confident that these litigations held no risk for either Officers Choice or the Company but with the settlement he will be free from all legal activities and will be able to focus on developing the company to its full potential
With the withdrawal of these litigations most of which was instituted as a consequence of a dispute within the Chhabria family, it brings to an end 20 year old dispute between KRC Group of Companies and erstwhile Shaw Wallace Group of Companies which is now part of Vijay Mallya controlled United Spirits Ltd, ABD said in a statement.