"There is no question of an out-of-court settlement", Raju told The Financial Express, scotching market rumours which began since the battle for the stake began in local city civil courts in the wake of a hostile raid by Srinivasan on Raasi Cements last year.

"Following the decisions of the Department of Company Affairs, the Sebi and the verdict of the Delhi high court, I am on a strong wicket", Raju said. The case with Raasi Cement was different and the same does not apply here, he said.

Earlier, even Srinivasan had ruled out the possibility of an out-of-court settlement. However, market circles have continued to speculate on the issue considering the civil suite was a time-consuming proposition.

At one point of time, thegrapevine had it that Raju could even do a Raasi on Srinivasan and compensate the latter for the perceived loss to Raasi Cement on account of the transfer of the 39.5 per cent stake to Raju and nine body corporates equating it to the open-offer price.

In a bid to save the company from a similar fate as that of Raasi Cements, BV Raju and associates had made an open offer in August 1998 to the shareholders of Sri Vishnu Cement to buy 20 per cent of its stock at Rs 25 per share, which was later increased to Rs 100 per share. While financial institutions offloaded their share in Raju's favour, Srinivasan went to the courts fighting against the former Raasi board's decision to off-load the equity.