Tata Sons moves SC to block Mistrys from raising funds on Tata shares
4 years, 3 months ago

Tata Sons moves SC to block Mistrys from raising funds on Tata shares

Live Mint  

Mumbai: Tata Sons Ltd on 5 September moved an ‘urgent’ application before the Supreme Court to restrain the Shapoorji Pallonji Group promoters from raising capital against security of their shareholding in Tata Sons. The SP group companies which hold 18.4% stake in Tata Sons through two investment firms have cried foul over the move. The Tata group and SP group are involved in prolonged legal battle starting December 2016, after Cyrus Mistry was sacked as the chairman of Tata Sons in October 2016. “The promoters of the SP Group are in the process of raising ₹11,000 crore from marquee global investors with ₹3,750 Cr being raised in the first tranche, against the security of shares that their investment companies own in Tata Sons.

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Tata Trusts continues to oppose transfer of Tata Sons shares owned by SP Group
1 week, 6 days ago

Tata Trusts continues to oppose transfer of Tata Sons shares owned by SP Group

Live Mint  

Bengaluru and Mumbai: The friction continues between Shapoorji Pallonji Group, the largest public shareholder of Tata Sons, and the philanthropic entities that control the Tata empire. The chief executive of Tata Trusts told Mint in an email response to a questionnaire sent on Tuesday that Tata Sons’ shares cannot be used as collateral for fresh loans by the SP Group. …

SP group faces tough investor conditions
1 year, 6 months ago

SP group faces tough investor conditions

Live Mint  

BENGALURU, MUMBAI : The Shapoorji Pallonji group’s $1.7 billion fundraising effort entails onerous terms, with the Mumbai-based conglomerate promising investors a return of as much as 17.5% while putting up significant collateral, including half of its stake in Tata Sons Pvt. View Full Image Graphic: Mint The SP group, which owns 18.37% of Tata Sons, the holding company of the …

Cyrus Mistry death: Former chairman of India’s Tata group dies in car accident
2 years, 3 months ago

Cyrus Mistry death: Former chairman of India’s Tata group dies in car accident

The Independent  

The former chairman of one of India’s biggest conglomerates Tata Sons, who was ousted in a high-profile boardroom coup, died on Sunday in a car crash. Cyrus Mistry, an Indian-born Irish businessman, succeeded one of south Asia’s richest men — Ratan Tata — as the chairman of the most vaunted industrial group. His passing away is a big loss to …

Cyrus Mistry, the outsider who became part of Tata empire
2 years, 3 months ago

Cyrus Mistry, the outsider who became part of Tata empire

Live Mint  

Maharashtra police official on Sunday said that the former Tata Sons chairman Cyrus Mistry was killed in a road accident after his car hit a divider in Palghar district neighbouring Mumbai. The former Tata Sons chairman was travelling from Ahmedabad to Mumbai in a Mercedes car, the police official said, “the accident took place around 3.15 pm, when Cyrus Mistry …

Tata, Tata Sons welcome SC dismissal of review petition by Sapoorji Pallonji group
2 years, 7 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 …

Supreme Court Dismisses Review Plea Of SP Group Against Tata Sons Judgment; Agrees To Expunge Few Remarks Against Cyrus Mistry
2 years, 7 months ago

Supreme Court Dismisses Review Plea Of SP Group Against Tata Sons Judgment; Agrees To Expunge Few Remarks Against Cyrus Mistry

Live Law  

The Supreme Court on Wednesday dismissed the review petition filed by Shapoorji Pallonji Group challenging the order dated 26.03.2021 wherein the Apex Court allowed Tata Son's appeal against the NCLAT order to reinstate the ousted Chairman Cyrus Mistry. The present legal battle has its genesis in the company petitions filed by Shapoorji Pallonji Group under Sections 241 and 242 of …

Tata Sons v Cyrus Mistry : Supreme Court Agrees To Hear SP Group's Review In Open Court; Justice Ramasubramanian Dissents
2 years, 10 months ago

Tata Sons v Cyrus Mistry : Supreme Court Agrees To Hear SP Group's Review In Open Court; Justice Ramasubramanian Dissents

Live Law  

On Tuesday, the Supreme Court had agreed to hear the review plea filed by Shapoorji Pallonji Group challenging the order dated 26.03.2021 wherein the Apex Court allowed Tata Son's appeal against the NCLAT order to reinstate the ousted Chairman Cyrus Mistry. The present legal battle has its genesis in the company petitions filed by Shapoorji Pallonji Group under Sections 241 …

In the Tata-Mistry battle, how and why the court swung in favour of Ratan Tata
3 years, 8 months ago

In the Tata-Mistry battle, how and why the court swung in favour of Ratan Tata

Hindustan Times  

With its final judgment last week, the Supreme Court not only set aside set aside a tribunal’s 2019 order reinstating Cyrus Mistry as the executive chairman of the corporate giant, Tata Sons, but also ruled all the questions of law in favour of Ratan Tata and the ­Tata Group. The court answered this question in negative and cited a simple …

Tata values SP stake at over ₹94,000 crore
3 years, 8 months 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’ …

SC sets aside NCLAT order reinstating Mistry; rules in favour of Tata Group
3 years, 8 months 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 …

Supreme Court Allows Tata Sons Appeal Against NCLAT Order To Reinstate Cyrus Mistry As Chairman
3 years, 8 months ago

Supreme Court Allows Tata Sons Appeal Against NCLAT Order To Reinstate Cyrus Mistry As Chairman

Live Law  

In a big win for Tata Sons Ltd, the Supreme Court on Friday allowed its appeal against the order of the National Company Law Tribunal, which had ordered to reinstate the ousted Chairman Cyrus Mistry.The Court allowed the appeal of Tata Sons, answering all questions of law framed in the case in its favour, and set aside the NCLAT order. …

Setback for Cyrus Mistry as Supreme Court sets aside NCLAT order to reinstate him as Tata Group's chairman
3 years, 8 months ago

Setback for Cyrus Mistry as Supreme Court sets aside NCLAT order to reinstate him as Tata Group's chairman

India TV News  

The Supreme Court on Friday set aside the National Company Law Appellate Tribunal order of December 18, 2019 restoring Cyrus Mistry as executive chairman of Tata Group. The NCLAT in its 2019 order reinstated Mistry as Tata Group chairman and also termed N Chandrasekaran’s appointment to the chairman's post of the over USD 100 billion salt-to-software conglomerate as 'illegal'. Shapoorji …

Tata-Mistry dispute: SC upholds Cyrus Mistry's ouster from Tata Sons
3 years, 8 months ago

Tata-Mistry dispute: SC upholds Cyrus Mistry's ouster from Tata Sons

India Today  

The Supreme Court on Friday upheld the ouster of Cyrus Mistry as executive chairman of Tata Sons in connection with the dispute between Tata Sons Pvt Limited and Cyrus Investments Pvt Ltd. A three-judge bench, headed by Chief Justice of India SA Bodbe, gave its verdict on the basis of cross-appeals filed by the two entities on the 2019 National …

Tata-Mistry dispute: Complete chronology of events
3 years, 8 months 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
3 years, 8 months 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 …

Tata Sons v. Cyrus Mistry: Supreme Court To Pronounce Judgment Tomorrow
3 years, 8 months ago

Tata Sons v. Cyrus Mistry: Supreme Court To Pronounce Judgment Tomorrow

Live Law  

The Supreme Court will pronounce the judgment in Tata Son's appeal against the NCLAT order dated 18th December 2019 which reinstated Cyrus Mistry as the Executive Chairman of Tata Sons Pvt. On December 18, 2019, The National Company Law Appellate Tribunal restored Cyrus Mistry as the Executive Chairman of Tata Group. Allowing Mistry's appeal, the Appellate Tribunal had set aside …

Tata Sons v. Cyrus Mistry: Supreme Court Reserves Judgemnt
4 years ago

Tata Sons v. Cyrus Mistry: Supreme Court Reserves Judgemnt

Live Law  

The courtroom battle in the matter of Tata Sons v. Cyrus Mistry reached day 7 of continuous hearings by the parties. Mr. Divan presented the following series of events which points out the arbitrary removal of Mr. Mistry which was primarily influenced by external interference of Mr. Ratan Tata in the capacity of a shareholder: 13 December 2012 : Mr. …

Tata Sons' Process Of Removal Of Cyrus Mistry Against Corporate Democracy: Divan Argues In Supreme Court
4 years ago

Tata Sons' Process Of Removal Of Cyrus Mistry Against Corporate Democracy: Divan Argues In Supreme Court

Live Law  

The courtroom battle in the Tata Sons case reached to day 6 of continuous hearings by the parties. First, 10 main aspects relating to corporate governance and relationship between the SPG and Tata Sons; second, two Articles from the AoA and three, statutory provisions of the Companies Act, 2013. Mr. Divan began with arguing on the point of corporate governance …

Tata-Mistry Row: SC Draws Analogy Between Politics and Corporate on Issue of Interference
4 years ago

Tata-Mistry Row: SC Draws Analogy Between Politics and Corporate on Issue of Interference

News 18  

The Supreme Court on Tuesday drew an analogy between politics and the corporate governance to question Shapoorji Pallonji Group's allegation of interference by trustees in running the affairs of Tata Sons, saying whether pre-consultation with party colleagues by a Chief Minister before a cabinet meeting amounted to loss of independence. The top court was hearing on the fifth day the …

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 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 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 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 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 Sons v Cyrus Mistry : NCLAT Has No Power To Appoint Chairman, Submits Salve
4 years ago

Tata Sons v Cyrus Mistry : NCLAT Has No Power To Appoint Chairman, Submits Salve

Live Law  

The bench headed by Chief Justice S. A. Bobde heard Senior Advocate Harish Salve for Tata Sons. Tata Sons hold controlling stake in many listed companies of Tatas, like Tata Steel, Tata Chemicals etc", submitted Mr. Salve. "Of course, in that case it can be- If the nominees of Tata Sons and the independent and financial directors of the other …

Tata, Mistry spar over a $13 billion valuation difference
4 years 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 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, 1 month 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, 1 month 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 Wants Stakes In All Tata Group Companies As Part Of The Settlement
4 years, 1 month 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, 1 month 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, 1 month 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, 1 month 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 …

Mistry-led SP Group Says 'Serious Misconduct' by Tata Sons in Parliament Project Bid: Report
4 years, 2 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, 2 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 …

A Tata-Mistry divorce deal may prove thorny
4 years, 3 months ago

A Tata-Mistry divorce deal may prove thorny

Live Mint  

Now that India’s biggest ever business battle seems headed for record books as our most expensive corporate divorce, it may be tempting to expect a truce between the Tata Group led by Ratan Tata and the Shapoorji Pallonji camp under Cyrus Mistry. On Tuesday, Mistry’s team declared SP’s readiness to part ways with Tata, a parting that is expected to …

Tatas may rope in a third party
4 years, 3 months ago

Tatas may rope in a third party

Live Mint  

Tata Sons Ltd has two options before it as it heads for a split with the Shapoorji Pallonji group: Raise about ₹1.5 trillion to buy out SP group’s shares, or find an external buyer for these shares. Tata Sons has the first right of refusal for 18.4% stake owned by two SP group investment companies. According to a person aware …

Time to separate: Mistry to Tata
4 years, 3 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 …

"Time To Separate": Shapoorji Pallonji Group Agrees To Exit Tata Sons
4 years, 3 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 …

’Tata Sons tried to suppress, harm Shapoorji Pallonji group’: Read the full statement by Mistry family
4 years, 3 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, 3 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, 3 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, 3 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, 3 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, 3 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, 3 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, 3 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, 3 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 …

Tatas Blocking Share Pledge Vindictive, to Cause Irreparable Damages, Says Mistry Group
4 years, 3 months ago

Tatas Blocking Share Pledge Vindictive, to Cause Irreparable Damages, Says Mistry Group

News 18  

Mumbai: The Shapoorji Pallonji Group that owns 18.37 per cent in Tata Sons on Friday said the Tatas moving the apex court to block its plan to pledge shares for raising funds reeks of vindictiveness and oppression of minority shareholder rights. On September 5, Tata Sons had moved the Supreme Court seeking to restrain the Mistry group from raising capital …

Mistry family flags ’underperformance’ at Tata Sons AGM
4 years, 3 months ago

Mistry family flags ’underperformance’ at Tata Sons AGM

Live Mint  

New Delhi: The bitter tussle between the Tatas and ousted chairman Cyrus Mistry came to fore at the annual general meeting of Tata Sons, as the two sides traded allegations and counter-allegations over the management of $110 billion salt-to-software group. While no official statement or record of proceedings was released on the first-ever online AGM of Tata Sons held on …

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