"I in my personal capacity am trying to go for an out of court settlement," counsel for Analjit and executor of the will A K Sharma said.
"What we gather is that they (Malvinder and Shivender) are also willing for an out of court settlement. But they have not aproached us so far," he added.
Sharma, however, iterated, "we will not make the first move".
Both Malvinder and Shivender declined to comment.
Meanwhile, the Analjit camp is going ahead with filing for a probate of Bhai Mohan Singh's will for a leagal authentication.
"It has become a necessity now. We will file it tomorrow or day after," Sharma said.
This is despite the fact that the move has been challenged by the other parties who have filed a caveat against executing the will and have already issued notice against the executers.
Sharma, however, said although there was a possibility for an out of court settlement with Malvinder and Shivender such an agreement with Manjit Singh, Bhai Mohan Singh's middle son, is unlikely.
The dispute is mainly on account of about 24 lakh disputed shares of Ranbaxy, which are claimed to have been held by Bhai Mohan Singh directly or indirectly through trusts and investment companies.
Sharma said Analjit had to fight the case as he, according to the will, had been made the sole heir to the litigation.
The will had directed Analjit to sell the disputed shares subject to a favourable ruling from court and transfer the proceeds to the Bhai Mohan Singh Foundation.
These shares are estimated to be valued at around Rs 125 crore (Rs 1.25 billion) at the current market price.
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