Businessman Lalit Modi has reportedly dropped his fraud case against former New Zealand allrounder Chris Cairns.
The former head of the Indian Premier League first lodged his STG1.5 million (NZ$3.3 million) claim in November 2014.
It was to be heard at a London court from March 7, beginning three months after Cairns was found not guilty of perjury and perverting the course of justice at an eight-week trial at London's Southwark Crown Court.
However, Modi has spent time considering whether to pursue the claim and has decided against doing so, according to the Weekend Herald and British newspaper The Times.
The Herald said Cairns' UK solicitor, Rhory Robertson, confirmed a Notice of Discontinuance had been filed by Modi to halt proceedings.
In March 2012, Cairns successfully sued for libel after Modi had made allegations on Twitter that Cairns was involved in match-fixing during the Indian Champions League in 2008.
Cairns was awarded $174,000 in damages and $775,000 in court costs.
New evidence came to light during the perjury trial, prompting Modi's lawyers to press for a civil claim, alleging the former allrounder won his settlement on the basis of untrue evidence.
Cairns said his reputation was "completely scorched" despite the not guilty verdict at the perjury trial.