Bangalore: Kishore Chhabria is looking for an out-of-court settlement in the 10-year-old dispute over the control of Herbertsons and is also exploring a staying-together option.

Emphasising the need to end bitterness and litigations, sources close to Kishore Chhabria say he is not averse to peaceful co-existence in Herbertsons provided both camps gave up shares accumulated allegedly in violation of Securities and Exchange Board of India guidelines.

It marks a significant departure from the past when the opposing camps have been talking mainly about buying out each other. On rare occasions, Chhabria hinted about exiting the company while insisting on a fair deal, which never came along.

We need to end this bitterness for which Kishore is willing to explore all possibilities, whether it is buying or selling Herbertsons shares or staying together with Vijay Mallya in the company, the sources in the Chhabria camp said.

Industry sources, however, say Mallya might consider the proposal. But in the wake of the changed industry scenario following Manu Chhabrias demise, Mallya could impose firm conditions while appraising the proposal.