"Time To Separate": Shapoorji Pallonji Group Agrees To Exit Tata Sons
4 years, 6 months ago

"Time To Separate": Shapoorji Pallonji Group Agrees To Exit Tata Sons

ABP News  

Shapoorji Pallonji group which owns about 18.5% stake in Tata Sons, announced its separation from the group today saying, "a separation of interests would best serve all stakeholder groups. "In a statement issued on Tuesday, Shapoorji Pallonji, the largest minority shareholder in Tata Group said that the it is necessary for the Mistry group to part ways with it due to the potential impact this continuing litigation could have on livelihoods and the economy. Several of these leaders who were retiring from the Board of Tata Sons also served as Trustees of the majority shareholders - Tata Trusts.It is in this context that Mistry set about trying to establish a governance structure that would institutionalize accountability, and create the right checks and balances, without contravening the new SEBI Insider Trading law that regulated the flow of information across all stakeholders. The SP group said that the Tata Sons amplified its institutional efforts to suppress and inflict irreparable harm on the SP Group and hence it was high time for the Mistry family to sir back and reflect on the past, present and future for all the stakeholders.

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History of this topic

Tata Sons Faces IPO Controversy Amid Eftorts to Avoid Listing Under RBI’s SBR Framework
4 months, 2 weeks ago

Tata Sons Faces IPO Controversy Amid Eftorts to Avoid Listing Under RBI’s SBR Framework

Live Mint  

With less than a year remaining for Tata Sons to comply with the Reserve Bank of India’s mandate for public list- ing under the Scale-Based Regulation framework, the company is attempting to bypass this requirement. Tata Sons has applied to voluntarily surrender its registration with the RBI, which would remove it from regulatory oversight, exempting the company from the SBR …

Cyrus Mistry Death: The 'Outsider' Who Made It to The Top of Tata Group
2 years, 6 months ago

Cyrus Mistry Death: The 'Outsider' Who Made It to The Top of Tata Group

News 18  

In a shocking development, Cyrus Mistry was killed in a road accident in Palghar on Sunday afternoon after the Mercedes he was travelling in rammed into a divider. In his career, Cyrus Mistry has been in key positions of the corporates in India — from being the managing director of construction giant Shapoorji Pallonji Group to taking over as the …

Pallonji Mistry, head of Shapoorji Pallonji Group, dies at 93
2 years, 9 months ago

Pallonji Mistry, head of Shapoorji Pallonji Group, dies at 93

Hindustan Times  

Pallonji Mistry, the Indian-born billionaire whose engineering empire built luxury hotels, stadiums, palaces and factories across Asia and whose family’s epic showdown with the Tata Group sparked India’s biggest corporate feud, has passed away in Mumbai. Most of the family wealth, however, derived from being the largest minority shareholder -- 18.5% as of early 2022 -- in Mumbai-based Tata Sons …

Pallonji Mistry made 'monumental contributions': PM Modi leads rich tributes
2 years, 9 months ago

Pallonji Mistry made 'monumental contributions': PM Modi leads rich tributes

Hindustan Times  

Construction tycoon Pallonji Mistry made "monumental contributions" to the world of commerce and industry, Prime Minister Narendra Modi said on Tuesday, paying rich tributes to the one of the oldest billionaires the country has seen. Pallonji Mistry, who headed the Shapoorji Pallonji Group, was also known to be the largest shareholder in the Tata Group. "Deeply saddened to hear about …

Pallonji Mistry, Chairman of Shapoorji Pallonji Group, Passes Away At 93
2 years, 9 months ago

Pallonji Mistry, Chairman of Shapoorji Pallonji Group, Passes Away At 93

News 18  

Pallonji Mistry, head of the Shapoorji Pallonji group, passed away late last night at his residence in Mumbai. Pallonji Mistry, the reclusive business tycoon was credited for the success of the more than 150-year-old Shapoorji Pallonji Group, which has grown to be one of the largest business groups in the country. Born in a Parsi family in Gujarat in 1929, …

Business tycoon Pallonji Mistry dies at 93
2 years, 9 months ago

Business tycoon Pallonji Mistry dies at 93

Live Mint  

Shapoorji Pallonji group chairman and billionaire industrialist Pallonji Mistry passed away in Mumbai, company officials said. The Pallonji Mistry family own 18.4% stake in Tata Sons, the holding company of the Tata group. Pallonji Mistry and his family were thrust into the spotlight in 2012, when his younger son Cyrus Mistry was chosen to helm the Tata group. The Supreme …

Tata, Tata Sons welcome SC dismissal of review petition by Sapoorji Pallonji group
2 years, 10 months ago

Tata, Tata Sons welcome SC dismissal of review petition by Sapoorji Pallonji group

Deccan Chronicle  

New Delhi: Veteran industrialist Ratan Tata and Tata Sons on Thursday welcomed the Supreme Court's dismissal of a plea of the Sapoorji Pallonji group seeking a review of the verdict that upheld the Tata group's removal of Cyrus Mistry as Chairman of Tata Sons. The apex court on Thursday dismissed a plea of the SP group seeking a review of …

Tata-Mistry case: Ratan Tata appreciates Supreme Court ruling. Read here
2 years, 10 months ago

Tata-Mistry case: Ratan Tata appreciates Supreme Court ruling. Read here

Live Mint  

Hours after the Supreme Court dismissed the review petition by Cyrus Mistry in the protracted Tata versus Mistry legal dispute, well-known industrialist Ratan Tata has expresses his "grateful appreciation" of the judgement passed by the SC. “We would like to express our grateful appreciation of the judgement passed and upheld by the Supreme Court today,” the Tata Trusts Chairman tweeted. …

Tata-Mistry case: SC to hear review plea of Shapoorji Pallonji group today
3 years ago

Tata-Mistry case: SC to hear review plea of Shapoorji Pallonji group today

Live Mint  

The Supreme Court will hear in open court today the review petition filed by Shapoorji Pallonji Group challenging the top court's verdict in the dispute between Tata Sons Limited and Cyrus Mistry in which the Court had ruled in favour of Tatas. A three-judge bench of Chief Justice NV Ramana and Justices AS Bopanna and V Ramasubramanian said, "Applications seeking …

The secret history of the Tata, Mistry, Wadia feud
3 years, 8 months ago

The secret history of the Tata, Mistry, Wadia feud

Live Mint  

Most shell-shocked of all, and divided on the issue of the Tata–Mistry–Wadia confrontation, is the country’s minuscule, closely-knit Parsi community. Many Parsis thought that the feuding plutocrats, by washing their dirty linen in public, had stained the iconic Tata group’s unblemished 150-year-old reputation in India for its excellence and ethical probity. Fali Nariman, one of the country’s most respected lawyers …

Cyrus Mistry seeks review of Supreme Court verdict in case against Tata Sons
3 years, 11 months ago

Cyrus Mistry seeks review of Supreme Court verdict in case against Tata Sons

India TV News  

Cyrus Mistry seeks review of Supreme Court verdict in case against Tata Sons Supreme Court had on March 26 set aside the NCLAT order of December 18, 2019 restoring Cyrus Mistry as executive chairman of Tata Group. The Shapoorji Pallonji Group has filed a review petition before the Supreme Court seeking review of its March 26 verdict in the dispute …

Tata values SP stake at over ₹94,000 crore
4 years ago

Tata values SP stake at over ₹94,000 crore

Hindustan Times  

The of Tata Sons Ltd, the holding company of India’s largest conglomerate, was pegged at $70 billion in a recent internal valuation exercise, two people aware of the development said. The Supreme Court also rejected Shapoorji Pallonji Group’s claim that it was an oppressed minority shareholder in Tata Sons and set aside an appeals court order that reinstated Tata Sons’ …

‘Not an issue of winning or losing’: Ratan Tata on SC verdict backing removal of Cyrus Mistry
4 years ago

‘Not an issue of winning or losing’: Ratan Tata on SC verdict backing removal of Cyrus Mistry

India TV News  

‘Not an issue of winning or losing’: Ratan Tata on SC verdict backing removal of Cyrus Mistry Tata Trusts, which owns 66 per cent stake in Tata Sons, is chaired by Ratan Tata, the patriarch of the Tata group, while the Mistry family owns 18.4 per cent stake in the company. Industrialist Ratan Tata has welcomed the Supreme Court's verdict …

Tata group stocks jump as SC rejects Shapoorji Pallonji group’s pleas
4 years ago

Tata group stocks jump as SC rejects Shapoorji Pallonji group’s pleas

Live Mint  

Mumbai: Shares of top Tata group companies surged on Friday after a Supreme Court bench, led by Chief Justice SA Bobde, dismissed appeals of the Shapoorji Pallonji group and set aside the December 2019 NCLAT judgement which had ordered the reinstatement of Cyrus Mistry as chairman of Tata Sons. The top court allowed the appeals filed by the Tata Group, …

SC sets aside NCLAT order reinstating Mistry; rules in favour of Tata Group
4 years ago

SC sets aside NCLAT order reinstating Mistry; rules in favour of Tata Group

Hindustan Times  

The Supreme Court on Friday set aside the 2019 order of the National Company Law Appellate Tribunal by which Cyrus Mistry was reinstated as the executive chairman of the over $100 billion Tata Sons. The court also negated the NCLAT’s finding regarding “oppressive” practices resorted to by the Tata Sons Pvt Ltd in removing Mistry as the chairman of Tata …

Tata-Mistry dispute: Complete chronology of events
4 years ago

Tata-Mistry dispute: Complete chronology of events

India Today  

Following is the chronology of developments in the Tata-Mistry case in which the Supreme Court on Friday set aside the NCLAT order restoring Cyrus Mistry as executive chairman of Tata Group: October 24, 2016: Cyrus Mistry ousted as Tata Sons chairman, Ratan Tata named as an interim Chairman of the group. December 20: Two Mistry family backed investment firms, Cyrus …

Supreme Court to Deliver Judgement on Cross Appeals in Tata Sons-Cyrus Mistry Case on Friday
4 years ago

Supreme Court to Deliver Judgement on Cross Appeals in Tata Sons-Cyrus Mistry Case on Friday

News 18  

The Supreme Court is scheduled to pronounce on Friday its judgement on the cross appeals filed by Tata Sons Pvt Ltd and Cyrus Investments Pvt Ltd against the NCLAT order which had restored Cyrus Mistry as the executive chairman of the over $100 billion salt-to-software Tata conglomerate. Shapoorji Pallonji Group had told the top court On December 17 that removal …

Ratan Tata's Affidavit Shows That Tata Sons Is Not Meant To Be A Family Run Company : Cyrus Mistry's Lawyer In SC
4 years, 3 months ago

Ratan Tata's Affidavit Shows That Tata Sons Is Not Meant To Be A Family Run Company : Cyrus Mistry's Lawyer In SC

Live Law  

The courtroom battle in the Tata Sons case reached to day 5 of continuous hearings by the parties. Mr. Sundaram tendered his arguments on three main points: first, the interpretation of Article 121 and 121A of the Articles of Association of Tata Sons; second, independence of the Board of Directors and third, the nature of relationship with reference to quasi …

Tata-Mistry Case: CJI SA Bobde Discloses His Son Appears for Shapoorji Firm, Lawyers Say No Objection
4 years, 3 months ago

Tata-Mistry Case: CJI SA Bobde Discloses His Son Appears for Shapoorji Firm, Lawyers Say No Objection

News 18  

Chief Justice of India Sharad Arvind Bobde, who is heading the bench hearing the high-stake Tata-Mistry case on Monday disclosed that his advocate son Shrinivas Bobde, has been representing a subsidiary company of Shapoorji Pallonji Group in a slum redevelopment matter for about two years. Senior advocates Harish Salve, appearing for Tatas and CA Sundaram, representing SP Group said that …

Tata rejects Mistry family’s share swap offer
4 years, 3 months ago

Tata rejects Mistry family’s share swap offer

Live Mint  

The Tata group on Thursday rejected Mistry family’s offer to swap its 18.4% stake in Tata Sons Limited for equitable stakes in various group companies. Salve further told the court that the Tata group was principally against the Mistry separation plan since it was based on minority oppression and a buyout of the stake by Tata group may become tenable …

Tata's Counters Mismanagement Claims in SC, Says Shapoorji Pallonji Group Valuation Rose
4 years, 3 months ago

Tata's Counters Mismanagement Claims in SC, Says Shapoorji Pallonji Group Valuation Rose

News 18  

The Tatas on Wednesday countered in the Supreme Court, the accusation of mismanagement of Tata Sons and said that even according to the claim of Shapoorji Pallonji group valuation of their 18.37 per cent stake in the company rose from 58,000 crore in 2016 to Rs 1.75 lakh crore in 2020. On Tuesday, Tatas said the valuation of 18.37 per …

Tata pegs Shapoorji Pallonji stake at half the latter’s claim
4 years, 3 months ago

Tata pegs Shapoorji Pallonji stake at half the latter’s claim

Live Mint  

An elephant-sized difference in views about how much the Pallonji Mistry family’s stake in Tata Sons Ltd is worth has put paid to hopes of a quick truce between the Tata group holding company and its single-largest shareholder. On Tuesday, Tata Sons, which has challenged the Mistry family’s move to pledge or sell its 18.4% stake in the holding company, …

Hopes of Tata-Mistry truce fade over valuation mismatch
4 years, 3 months ago

Hopes of Tata-Mistry truce fade over valuation mismatch

Live Mint  

A $13-billion difference in valuation of 18.4% stake in Tata Sons has dimmed hopes of potential truce between the Tata Group and the Mistry family, the single largest shareholder in the Tata Group holding company. Appearing for the Tatas, senior counsel Harish Salve told the apex court bench headed by Chief Justice S.A. Bobde that while Mistry's family has claimed …

Tata, Mistry spar over a $13 billion valuation difference
4 years, 3 months ago

Tata, Mistry spar over a $13 billion valuation difference

Live Mint  

A $13 billion valuation mismatch is setting the stage for the next round of clash between the Tata group and billionaire Pallonji Mistry’s conglomerate. Mistry’s Shapoorji Pallonji Group had made a truce offer to swap its Tata Sons stake for shares worth $24 billion in the listed Tata firms. Salve was informing the court about Tata Sons’ financial health and …

SC to hear final arguments of Tata-Mistry case on 8 December
4 years, 4 months ago

SC to hear final arguments of Tata-Mistry case on 8 December

Live Mint  

NEW DELHI: The Supreme Court on Wednesday deferred hearing final arguments in cross appeals filed in the case of alleged mismanagement and oppression of minority investors at Tata Sons Ltd. The apex court was expected to take on record the 29 October plea by the two investment firms for separation from Tata Sons as part of additional relief in its …

Supreme Court Fixes Final Hearing in Tata-Mistry Case on December 2
4 years, 4 months ago

Supreme Court Fixes Final Hearing in Tata-Mistry Case on December 2

News 18  

The Supreme Court Wednesday listed for final hearing on December 2 the cross appeals filed by Tata Sons and Cyrus Investments against appellate tribunal NCLAT's order which had restored Cyrus Mistry as the executive chairman of the over USD 100 billion salt-to-software Tata conglomerate. The top court had on September 22 restrained Shapoorji Pallonji Group and Cyrus Mistry as also …

Things to watch out for as Supreme Court hears Tata-Mistry case today
4 years, 4 months ago

Things to watch out for as Supreme Court hears Tata-Mistry case today

Live Mint  

Since 22 September, when Shapoorji Pallonji group stated its intent to separate from Tata group, a lot has been said on how SP group will sell its 18.4% stake in Tata Sons Ltd. Today when the Supreme Court hears the Tata-Mistry case, on the grounds of oppression of minority investors, some clarity is likely to emerge. Tata group company shares …

Shapoorji Pallonji group’s latest offer may not find favour with Tatas
4 years, 5 months ago

Shapoorji Pallonji group’s latest offer may not find favour with Tatas

Live Mint  

The Shapoorji Pallonji group’s offer to swap its stake in Tata Sons Ltd for shares in publicly traded Tata group companies is unlikely to find support at Bombay House, the corporate headquarters of India’s largest conglomerate. Accepting the offer in the current form will risk giving the SP group more say in the listed Tata companies, which may not be …

Shapoorji Pallonji Group Wants Stakes In All Tata Group Companies As Part Of The Settlement
4 years, 5 months ago

Shapoorji Pallonji Group Wants Stakes In All Tata Group Companies As Part Of The Settlement

ABP News  

Shapoorji Pallonji Group has sought to swap its stake in Tata Sons, which his group values at $24 billion, for shares in the listed companies of India's biggest conglomerate as the former partners move to break ties, four years after Cyrus Mistry was ousted as chairman of Tata Group.The SP Group has told the Supreme Court that it estimates its …

Shapoorji Pallonji Group Submits Plan to SC for Separation from Tatas
4 years, 5 months ago

Shapoorji Pallonji Group Submits Plan to SC for Separation from Tatas

News 18  

The Shapoorji Pallonji Group on Thursday said it has submitted a plan to Supreme Court to end its seven decades-old association with the Tata Group. “Tata Sons is effectively a two-group company, with the Tata Group comprising Tata Trusts, Tata family members and Tata companies holding 81.6 per cent of the equity share capital, and the Mistry family owning the …

Mistry firms offer cashless separation to Tatas in lieu of stake in group firms
4 years, 5 months ago

Mistry firms offer cashless separation to Tatas in lieu of stake in group firms

Live Mint  

Mumbai: Mistry family controlled Shapoorji Pallonji group, which owns 18.4% stake in Tata Sons, on Thursday filed a scheme of separation in Supreme Court proposing to swap its entire holding in the group holding company for equivalent shares in listed entities of Tata group and along with a pro-rata share of Tata brand value payable by cash or listed securities. …

The next steps in Mistry versus Tata
4 years, 5 months ago

The next steps in Mistry versus Tata

Live Mint  

On 19 October, the Mistry family-owned Shapoorji Pallonji group withdrew its allegations of “serious misconduct” in the bidding process of Parliament’s redevelopment. But Tata Sons’ application to prevent Mistry family from pledging their shares has made SP group realize that co-existence is not possible,” the person quoted above added. “Estimating a lower valuation for Mistry shares would hurt the Tata …

Shapoorji Pallonji Group Withdraws Letters Alleging Irregularities in Bidding Process for New Parliament Building
4 years, 5 months ago

Shapoorji Pallonji Group Withdraws Letters Alleging Irregularities in Bidding Process for New Parliament Building

News 18  

The Shapoorji Pallonji Group has withdrawn letters alleging irregularities and conflict of interest in Tata Projects' winning bid to construct the new Parliament building after the government department concerned asserted that there were no wrongdoings in the process, sources said. In the letter, SP Group further said,"We also appreciate your confirmation that the entire bidding process was carried out impartially …

Mistry-led SP Group Says 'Serious Misconduct' by Tata Sons in Parliament Project Bid: Report
4 years, 5 months ago

Mistry-led SP Group Says 'Serious Misconduct' by Tata Sons in Parliament Project Bid: Report

News 18  

The Mistry family held Shapoorji Pallonji Group alleged “serious misconduct” in the bid process for the Parliament redevelopment project that was allotted to Tata Sons in September 2020. According to a report by Business Standard, the group has in multiple letters to the Central Public Works Department requested for retendering of the bids and disqualification of Tata Sons due to …

Tata vs Mistry: A Rs 1.48 lakh crore question
4 years, 5 months ago

Tata vs Mistry: A Rs 1.48 lakh crore question

India Today  

Rs 1.48 lakh crore—that’s how much the market estimates the Tata Group will need to buy out the Shapoorji Pallonji Group’s 18.37 per cent stake in Tata Sons. Issues between the two business groups have been simmering for some years now, since Cyrus Mistry, son of SP Group chairman Pallonji Mistry, was removed as Tata Sons chairman in 2016. The …

Tata taps wealth funds to buy out Shapoorji stake
4 years, 6 months ago

Tata taps wealth funds to buy out Shapoorji stake

Live Mint  

The Tata group has reached out to several investors, including sovereign wealth funds, to raise funds to buy out the Mistry family’s stake in Tata Sons Ltd, two people directly aware of the ongoing negotiations said. “The discussions are focused on the likely valuation and a possible exit map for the investors.” But given the large size of the transaction, …

Shapoorji Pallonji Group to recast ₹10,900-crore debt under COVID-19 resolution framework
4 years, 6 months ago

Shapoorji Pallonji Group to recast ₹10,900-crore debt under COVID-19 resolution framework

Live Mint  

Mumbai: The Shapoorji Pallonji Group, which has decided to exit the Tata group, will restructure ₹10,900 crore of its debt under the resolution framework for pandemic-related stress, a group official said. "Shapoorji Pallonji Construction, the holding company of the 150-year-old Shapoorji Pallonji Group, wants to restructure ₹10,900 crore of their debt through the one-time loan restructuring under the COVID-19 resolution …

Ball in Tata Sons’ court after Mistry decides to part ways
4 years, 6 months ago

Ball in Tata Sons’ court after Mistry decides to part ways

Live Mint  

The Shapoorji Pallonji group is in talks with several institutional investors to sell its 18.4% stake in Tata Sons Ltd if the Tata group fails to exercise its right to buy the shares first, two people directly aware of the development said. “Considering that the Tatas have the first right of refusal, the Mistry family would table these offers before …

Bidding goodbye to Mistrys can cut both ways for the Tata Group
4 years, 6 months ago

Bidding goodbye to Mistrys can cut both ways for the Tata Group

Live Mint  

First, Cyrus Mistry was forced out of the Tata Sons board. The SP Group has said it believes its 18.4% stake in Tata Sons is worth ₹1.8 trillion, based on the value of the underlying operating companies, as well as the value of the Tata brand. “The primary hope for the seller is that the famed ‘values’ of the Tata …

Time to separate: Mistry to Tata
4 years, 6 months ago

Time to separate: Mistry to Tata

Live Mint  

The Shapoorji Pallonji group unexpectedly said it will end its seven decades-long partnership with the Tata group, hinting that it is willing to part with its 18.4% stake in Tata Sons Ltd after India’s biggest conglomerate offered to buy it back from its largest minority shareholder as part of a plan to end the country’s biggest corporate feud. The Shapoorji …

’Tata Sons tried to suppress, harm Shapoorji Pallonji group’: Read the full statement by Mistry family
4 years, 6 months ago

’Tata Sons tried to suppress, harm Shapoorji Pallonji group’: Read the full statement by Mistry family

Live Mint  

The Mistry, the largest minority shareholder of the Tata Group, said it needs to separate its interests after the country's biggest conglomerate took steps to block the family’s attempt to borrow money against Tata shares. on Tuesday informed the Supreme Court that it’s open to buying out the 18% stake owned by the Mistry family’s cash-strapped Shapoorji Pallonji Group if …

In parting letter, Mistrys accuse Tata leadership of value destruction
4 years, 6 months ago

In parting letter, Mistrys accuse Tata leadership of value destruction

Live Mint  

While announcing its decision to end its 70-year-long partnership with Tata Group, the Shapoorji Pallonji Group once again raised concerns on alleged corporate governance violations in the Tata Group, in which it remains the single largest shareholder of Tata Sons, the group holding company. “ As the largest minority shareholder owning an 18.37% stake, the role hitherto played by the …

Shapoorji Pallonji Group Exits Tata Group, Says Separation of Interest Best for Each Party
4 years, 6 months ago

Shapoorji Pallonji Group Exits Tata Group, Says Separation of Interest Best for Each Party

News 18  

Shapoorji Pallonji Group, the largest minority shareholder in Tata Group, is all set to part ways with it. In a statement, the Mistry group, which owns 18.5% stake in Tata Sons, said a separation from the Tata Group is necessary due to the potential impact this continuing litigation could have on livelihoods and the economy. As the largest minority shareholder …

’Time to separate’: Shapoorji Pallonji Group agrees to exit Tata Sons
4 years, 6 months ago

’Time to separate’: Shapoorji Pallonji Group agrees to exit Tata Sons

Live Mint  

New Delhi: Shapoorji Pallonji Group on Tuesday said it's time to exit from Tata Sons after a relationship that spanned 70 years turned sour in the last few years. "Today, Shapoorji Pallonji Group stated before the Supreme Court that separation from Tata Group is necessary due to potential impact this continuing litigation could have on livelihoods and the economy," the …

Willing to buy Mistry firm shares if they need funds: Tata group
4 years, 6 months ago

Willing to buy Mistry firm shares if they need funds: Tata group

Live Mint  

MUMBAI: The Tata group on Tuesday informed the Supreme Court that they were willing to buy shares of Tata Sons held by the Shapoorji Pallonji group if the latter needs funds. On Tuesday, a Supreme Court bench comprising Justice SA Bobde, Justice AS Bopanna and Justice V. Ramasubramanian ordered a status quo for four weeks on any transfer or pledge …

Blow to Mistrys: SC orders status quo on Tata share pledges
4 years, 6 months ago

Blow to Mistrys: SC orders status quo on Tata share pledges

Live Mint  

MUMBAI: In a blow to the Shapoorji Pallonji group, the Supreme Court on Tuesday ordered a status quo on creating pledges or encumbrances on shares of Tata Sons. Shapoorji Pallonji group had been pledging shares held by it in Tata Sons to raise funds. On 5 September, Tata Sons had moved an "urgent" application before the Supreme Court to restrain …

SC Orders Status Quo On Raising Capital Over Shares Held By Mistry's In Tata Sons
4 years, 6 months ago

SC Orders Status Quo On Raising Capital Over Shares Held By Mistry's In Tata Sons

Live Law  

The Supreme Court on Tuesday ordered status quo against Mistry firms & Shapoorji Pallonji Mistry on raising capital against security of their shareholding in Tata Sons, by pledging, transferring or any further action in relation to the shares.A bench of Chief Justice SA Bobde, Justice AS Bopanna & V. Ramasubramaniun will hear the case which was moved vide an "urgent …

Tata Group offers to buy out Mistry family stake in shares dispute
4 years, 6 months ago

Tata Group offers to buy out Mistry family stake in shares dispute

Live Mint  

Tata Group, India’s largest conglomerate, said it’s open to buying out the stake held by its largest minority shareholder -- the billionaire Mistry family -- as part of a proposal to help end a years-long legal dispute between the two parties. The nation’s top court on Tuesday barred the Mistry group from pledging or selling any Tata shares until Oct. …

SP Group demands damages from Tata
4 years, 6 months ago

SP Group demands damages from Tata

Live Mint  

Shapoorji Pallonji Group has slapped a notice on Tata Sons Ltd’s board, seeking unspecified damages for blocking the group’s plan to raise funds by pledging its shares in the Tata group holding company. In the notice, the SP Group has asked whether Tata Sons’ board members were involved in the decision to block the group’s fundraising efforts to meet its …

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