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Offering exit to Shapoorji Pallonji may cost Tata Group financial flexibility
The SP Group decision on Tuesday to sever its relationship with the Tata Group will likely bring an end to the dispute between the two.
What the exit of Shapoorji Pallonji Group will mean for the Tatas
The Shapoorji Pallonji Group’s (SP Group) decision yesterday to sever its r...
Mistry family sends notice to Tata Sons Board for fiduciary lapses and damages
The notice has sought an explanation from the board members, p...
SP Group says separation from Tata Group is in best interest of all stakeholders
It was crucial that an early resolution is reached to arrive at a fair and equitable solution reflecting the value of the underlying tangible and intangible assets. In the midst of a global crisis triggered by the COVID Pandemic, the Mistry family were in the midst of raising funds against the security of their personal assets to meet the crisis arising from the global pandemic.
Shapoorji Pallonji Group agrees to exit Tata Group, says separation in best interest of all stakeholders
“The SP-Tata relationship spanning over 70 years was forged on mutual trust, good faith, and friendship. Today, it is with a heavy heart that the Mistry family believes that a separation of interests would best serve all stakeholder groups,” the SP Group said in a release late on Tuesday.
View: If negotiations are conducted with a spirit of conciliation, it can be a win-win for Tatas and Mistrys
Tata wants to move on with its business and Mistry, too, is keen to resolve problems in his group, which includes reducing debt that stands at around ₹30,000 crore. SP may lose a family jewel, but it stands to gain substantial cash resources. So, an exit leaves Tata Sons with a less hostile environment, while SP’s balance sheet becomes robust.
Denied relief by Supreme Court, Shapoorji Pallonji Group offers to sell Tata Sons stake
The Mistry family-owned group's decision - after it failed to get a favourable order in the Supreme Court on Tuesday - could bring to an end a four-year legal and boardroom battle sparked by the ouster of Cyrus Mistry from the chairmanship of Tata Sons in 2016.
Tata Sons moves urgent plea in SC against SP Group's definitive agreement to raise capital
The SP Group is asking the Supreme Court to dismiss Tata’s application at the threshold by highlighting the settled position in law that a mere creation of a pledge on shares would not amount to a transfer of title of the shares.
Tata Sons evaluating options to structure SP Group’s separation
The SP Group for its part will press for immediate relief on the pledged Tata Sons shares, officials close to the group said. “Tata Sons will either have to withdraw their objection to the pledge or agree to buy out the shareholder. With Tatas pushing for buyout under Article 75, it will have to seek its shareholders’ approval to pass a special resolution,” a top official said.
Tata family has no special right, a non-Tata may one day head the Trusts, says Ratan Tata
“I happen to be the current chairman of these trusts. It could be somebody else, not necessarily with the surname ‘Tata’, in the future. An individual’s life is finite, whereas these organisations will continue,” he said.
Six degrees of separation: From starry-eyed start to messy finish, the anatomy of Tata-Mistry divorce
Here’s a summarised timeline of how the Tata-Mistry relationship came to this pass, from a starry-eyed start to a disgruntled finish.
Rural economy can be a starting point for revival for India: Ratan Tata
"We have to rekindle hope, the feeling that we have good tidings to look forward to. It is going to take a long time for industry to reestablish itself," he said in an interview to Horizons, an internal magazine of Tata Trusts.
Ratan Tata strongly refutes Mistry group's claim of oppression in the Supreme Court
On Tuesday, Ratan Tata filed his reply in the Supreme Court, where the Tata Group has challenged the National Company Law Appellate Tribunal’s order.
Unlocking cross-holdings of group companies a complex issue for Tata Sons
The issue is tricky because of the large amount of liquidity involved and the prospect of bringing in external investors in the unlisted holding company, where the stakes are held by Tata Trusts, Shapoorji Pallonji and related entities, and group companies and top executives.
NSE-BSE bulk deals: Goldman Sachs, Kuwait Invt Authority lap up Route Mobile
Shares of Route Mobile more than doubled on its debut and rose as much as Rs 735, up 110 per cent from its issue price of Rs 350. It pared some of the early gains, as sentiment soured in the secondary market, and closed at Rs 651.10.