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Podcast | Why the Shapoorji Pallonji Group is parting ways with Tata Sons

BL Internet | Updated on September 23, 2020 Published on September 23, 2020

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.

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Published on September 23, 2020