New Delhi: The matriarch has finally intervened in another bruising corporate battle involving siblings.

Embattled healthcare tycoon Shivinder Singh on Thursday withdrew his case filed before the National Company Law Tribunal (NCLT) against his estranged brother Malvinder and former Religare chief Sunil Godhwani for oppression of his interests in several group firms and mismanaging their affairs.

The two sons of the late Parvinder Singh - who himself was embroiled in a fierce boardroom battle with his father Bhai Mohan Singh, founder of the erstwhile Ranbaxy Pharmaceutical, back in the late eighties -decided to bury the hatchet after mother Nimmi Singh persuaded them to hammer out a truce, say sources close to the family.

In his filing before the NCLT, Shivinder said the brothers had decided to settle their disputes after his mother "requested both her sons to engage in mediation led by family elders respected by both her sons with a view to settling inter-se issues between them".

"Out of respect for their mother, the parties have already started mediation and, as per the request of the mediators to constructively progress the mediation, the petitioners wish to withdraw the captioned petition without prejudice to their rights and contentions. All rights of the petitioners are hereby reserved," the filing went on to add.

On September 4, the battle between the two brothers -which had been simmering ever since they lost control of hospital chain Fortis Healthcare - burst into the open after Shivinder charged brother Malvinder and Godhwani for oppression and mismanagement of Fortis and group firms Religare and RHC Holding in which the brothers have an equal stake.

In July, Malaysia's IHH Healthcare snapped up Fortis after stumping up a Rs 4000-crore bid that was later approved by the company's shareholders.

RHC Holdings was the erstwhile parent of Religare Enterprises and Fortis Healthcare Holding Pvt Ltd through their respective investment arms.

"I mutely watched the organisation I founded come to a point where it was publicly auctioned; where my family and myself have been stripped of our legacy, our finances and my personal credibility," Shivinder had then said.

He also accused Malvinder of forging his wife Aditi Singh's signature and conducting illegal financial transactions along with Sunil Godhwani, former top executive of the family's healthcare-to-financial services empire.

Shivinder had charged Malvinder with forging the signatures in the documents of RHC Holdings which, along with Oscar Investments, jointly owned financial services firm Religare Enterprises and hospital chain Fortis Healthcare.

Shivinder and Aditi Singh and their company, Shivi Holdings, had alleged that RHC Holdings Ltd's affairs were conducted in a manner contrary to their interests.

The Singh brothers, heirs to the multi-billion dollar empire that their father Parvinder Singh had helped build, have lost control of Fortis Healthcare and Religare Enterprises after the lenders converted pledged shares. They are now being investigated for alleged financial irregularities.

They are also battling attempts by Daiichi Sankyo to enforce an arbitration award of a Singapore court that ordered the brothers to pay a penalty of Rs 3,500 crore to the Japanese company for concealing material facts when they sold Ranbaxy Laboratories in 2008.

An appeal against this award was rejected by the Supreme Court in February.

Corporate matriarchs have usually stayed in the shadows and exercised their influence over their sons outside the public domain.

The most famous instance when the mother played a key role in resolving a corporate battle was in June 2005 when Mumbai-based tycoon Dhirubhai Ambani's wife Kokilaben had forced warring brothers Mukesh and Anil to agree on the terms for the demerger of the empire that their father had built.

Nimmi Singh herself is no stranger to family feuds, having been embroiled in one with brother-in-law Analjit Singh, who runs the Max India group, after the death of her father-in-law Bhai Mohan Singh.