The mediation between Amarchand Mangaldas co-managing partners and brothers Cyril and Shardul Shroff has completed today, with the Bombay high court to hear tomorrow at 11am that they have agreed to split the firm in two, according to two authoritative sources.

It is understood that both parties reached an agreement in mediation today after the end of the negotiations has been repeatedly extended.

The mediation began after an explosive Bombay high court hearing on 14 November 2014, after which the brothers agreed to mediate their differences.

They selected as their three mediators Nimesh Kampani – the JM Financial founder – with Cyril proposed senior counsel Harish Salve and Shardul nominated Justice BN Srikrishna.

Legally India had reported on 20 November 2014 that a break-up of the firm was nearly inevitable.

At its core, their dispute revolved around the brothers’ late mother’s will, which allegedly bequeathed all her assets, including her largest single equity stake in the Amarchand Mangaldas law firm.

Cyril claimed that equity in the firm was not hers to bequeath, as the family’s equity holdings in the firm were governed by partnership and family framework agreements, while Shardul claimed primacy of the will.

We have reached out to Cyril and Shardul Shroff for comment.