Vijay Mallya, the chairman of UB Group is set to bury all legal disputes with his arch rival Kishore Chhabria in one of the much celebrated cases in the Indian liquor industry which has been going on since 1991.
It is understood that both the parties will file an application requesting withdrawing of several cases against each other on Tuesday.
The main issue was that of Mallya who has been contending that he is the rightful owner of 'Officers Choice' whisky and not Chhabria who currently owns that whisky under his company Allied Blenders and Distillers.
This dispute had arisen after Mallya took over Shaw Wallace [ Get Quote ] owned by Kishore Chhabria's late brother Manu Chhabria and during that transaction Kishore Chhabria had laid claim to 'Officers's Choice.'
It is understood that Mallya's United Spirits [ Get Quote ] will be getting a nominal sum Rs 8 crore (Rs 80 million) as an one time fee from ABD to settle that issue once for all.
'Officer's Choice' whisky has been growing aggresively in the recent past and had during last year overtaken Mallya's 'Bagpiper' whisky as India's largest selling whisky brand at close to 16 million cases.
Mallya in addition to claiming that 'Officer's Choice' belongs to him had earlier this moved the high court in Kolkatta to stop Chhabria from raising fresh resources until the ownership issues are settled.
Photograph: Kind courtesy, http://ceylon-ananda.blogspot.in