A bench headed by Chief Justice S A Bobde allowed Wadia to withdraw the petition, which sort Rs 3000 crore in damages, after the court said Tata and others had no intention to defame him, news agency PTI reported.
Wadia, chairman of the Bombay Dyeing group, filed a criminal defamation case in 2016 after he was voted out of the boards of three Tata Group companies. He alleged that he was removed for backing Cyrus Mistry, who was ousted as chairman of Tata Sons.
"You both are mature people. You both are leaders of industry. Why don't you both settle the matter. Why don't you sit together and resolve your differences. Do you all need to pursue litigation like this?" a bench headed by Chief Justice S A Bobde told him on January 6.
The bench on Monday told senior advocate C A Sundaram, appearing for Wadia, that court appreciates his client for the response.