Comments
The Shapoorji Pallonji Group is going to exit from Tata Sons, bringing a 70-year partnership to an end. The SP Group, which holds 18.37 per cent stake in Tata Sons, will be selling its stakes. The move was triggered after the Supreme Court restricted the SP Group from pledging its shares in Tata Sons to raise debt till October 28.
“The current situation has forced the Mistry family to sit back and reflect on the past, present and possible future for all stakeholders. The past oppressive actions, and the latest vindictive move by Tata Sons that impact the livelihoods of the wider SP Group community, leads to the inexplicable conclusion that the mutual co-existence of both groups at Tata Sons would be infeasible,” the SP Group said in a statement.
BusinessLine's Thomas K Thomas explains the long drawn battle between the SP Group and the Tatas.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.