Vijay Mallya-owned United Spirits (USL) and Kishore Chhabria-led Allied Blenders & Distillers (ABD) have agreed to settle their dispute over Officer's Choice.
Both the parties agreed for an out-of-court settlement of the dispute over the ownership of Officer's Choice, the largest-selling whisky brand in the world.
"USL will receive Rs 8 crore from Allied Blenders & Distillers (ABD) - that owns Officer's Choice - in return for withdrawing all court cases claiming right over the whisky, which is the flagship brand of ABD," a media report said.
"Mallya and Chhabria had a deal in the past by which Mallya agreed to part with Offcier's Choice whisky and 130 crore in cash in return for full control of Herbertsons in which Chhabria had a substantial stake," it added.
Shares of United Spirits ended 6.67 per cent higher on the Bombay Stock Exchange on Tuesday, at Rs 1,260.70.