Mumbai: The Ambani brothers have completed their family real estate settlement, sources told CNBC-TV18's Nayantara Rai.
This comes close to the heels of their May 23 announcement where they said that they were patching up their differences, ending a non-compete agreement, and moving towards reconciliation. Mukesh and Anil Ambani were not on speaking terms after the Reliance business empire, which they inherited from their father Dhirubhai Ambani, was split in 2005.
CNBC-TV18 learns that both brothers have sorted out their family real estate assets. The settlement of realty assets was part of the 2005 family memorandum of understanding.
The 2005 family real estate pact was not fully implemented as each side was to vacate or transfer certain properties.
The undivided family holds significant realty properties, which are spread across the country. The properties include apartments in Mumbai and Navi Mumbai, and offices in Bandra, Kurla and New Delhi.
The north India headquarters of the Anil Dhirubhai Ambani Group (ADAG) is likely to move to Delhi's Hotel Ranjit by August-September, sources said. Hotel Ranjit was sold by ITDC to a private consortium in 2002.
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