After five years of a bitter feud, Mukesh and Anil last month unexpectedly called a truce by ending a non-competition agreement that had been a source of acrimony since they split the family business between them.
Anil had accused Mukesh of defaming him in a 2008 interview with the New York Times that was reproduced in two leading Indian newspapers, the Press Trust of India reported.
"Yes, we have withdrawn the suit claiming Rs 10,000 crore (100 billion rupees, or $2.12 billion) as damages," a spokesman for the Anil Dhirubhai Ambani Group told PTI.
A spokesman for Anil Ambani's group of companies declined to comment to Reuters.
Mukesh Ambani controls India's largest listed firm, Reliance Industries, while Anil's empire includes No. 2 Indian telecoms firm Reliance Communications, Reliance Power, Reliance Natural Resources and Reliance Infrastructure.
Source: Reuters.
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