Seven years after their bitter corporate battle, the Shapoorji Pallonji Group and Tata Group may be making efforts to reconcile, with Noel Tata taking charge of the Tata Trusts.

According to sources, a preliminary meeting between the two sides could happen soon, although no date has been set. “We are hopeful that both sides can put the past behind and find a constructive way forward,” said an industry source.

The fallout between the Tatas and SP Group occurred in 2016 when Cyrus Mistry was ousted as chairman of Tata Sons. Before this, the relationship had been cordial, with the Shapoorji Pallonji Group, the largest minority shareholder in Tata Sons, holding an 18 per cent stake. Mistry’s appointment in 2012 was seen as a continuation of this strong bond. After his ouster, Mistry accused Ratan Tata of interfering in Tata Sons’ operations despite retiring, alleging compromised governance and decisions driven by emotion rather than sound business judgment.

“Both Cyrus Mistry and Ratan Tata have passed away, and the legal dispute has been resolved, with the Supreme Court ruling in favor of the Tatas. There is no reason to hold on to past grievances,” another source said.

Noel Tata, known for his non-confrontational leadership style, could play a key role in bridging the two sides. Married to Aloo Mistry, daughter of the late Pallonji Shapoorji Mistry, Noel’s family connections position him as a potential mediator.

“For the SP Group, reconciliation with the Tata Group could ease financial challenges and improve the response to their planned listing of infrastructure firm Afcons,” a market analyst noted.

The analyst noted that relations between the two sides had been easing in recent times. During the latest annual general meeting of Tata Sons, the SP Group’s representative reportedly praised the growth of Tata Group companies, signaling that hostilities had come to an end.

However, a major sticking point between the two sides is the future of SP Group’s stake in Tata Sons, valued at over ₹3 lakh crore. SP Group has expressed interest in selling the stake, at least partially. They were hoping that Tata Sons would do an initial public offering which would have given them an exit route. But this has been rejected by the Tata Group. “It’s early days, let’s see how things pan out over the next couple of weeks,” said the first source. 

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