The Tata Group and the Aditya Birla Group are believed to have reached an out-of-court settlement to resolve the dispute over Idea Cellular.
It is believed that the Tata Group has withdrawn its request for arbitration. In 2001, Idea Cellular was a joint venture between the Tata Group, the Aditya Birla Group and AT&T.
AT&T exited the venture in 2005. A year later, the Tata Group also sold its stake in the company to the Aditya Birla Group. However, before the stake sale, the Tata Group had sent two notices to the Aditya Birla Group, seeking termination of the joint venture.
The notices accused the Aditya Birla Group of violating the shareholders agreement.
