By Zubair Ahmed BBC News, Mumbai

Mukesh (r) and Anil (l) Ambani, parted after a seven-month feud

The two brothers, Mukesh and Anil Ambani, control the Reliance Group - one of the largest private sector companies in India.

The brothers split the business last year after a bitter seven-month feud.

The two have accused each other of lying, misleading shareholders and delaying the process of dividing the businesses between them.

'Settlement'

The current spat started on Saturday with Anil Ambani accusing elder brother Mukesh of deliberately delaying the transfer of four companies.

The firms are due to become part of a new group headed by Anil.

A press release issued by Anil Ambani on Saturday said: "Mukesh Ambani and Reliance Industries Limited (RIL) have failed to complete any of the activities required to implement the overall settlement in letter and spirit."

Mukesh Ambani denied the claims and made counter allegations, saying that Anil Ambani was in fact causing the delay.

Amid the flurry of allegations and counter allegations, over three million shareholders are waiting for the siblings' public feud to end.

Under the terms of their split, Mukesh Ambani controls the oil, gas and petrochemicals business, while Anil Ambani oversees telecoms, electricity and the group's finance arm.