As the Tata and Shapoorji Pallonji groups await the final SC verdict on December 8 on their proposed separation, a look at the fraught decades-old partnershipEarlier this week, it seemed as though the four-year court battle between the Tata and the Shapoorji Pallonji groups had reached its conclusion in the Supreme Court. It had not. On December 8, when the final hearing will likely take place, we may see an end to one of the longest-running business partnerships in the country, as the SP Group and Tatas forge a path to complete separation. SP, which owns an 18.37 per cent stake in Tata Sons, the holding company of the Tata Group, is seeking a pro-rata split of the listed assets and liabilities of the group. They have estimated their stake to be worth Rs 1.75 lakh crore. The Tata Group assigns a much lower value to the shares.The century-old relationship started to unravel after the unceremonious and very public firing of Cyrus Mistry — scion of the construction-major Shapoorji Pallonji Group — as chairman of Tata Sons in 2016. The repeated raking up of the issue through the courts, the National Companies Law Tribunal, its Appellate body and then the… Read full this story
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As final verdict comes up in Tata-Mistry case, here's revisiting their fraught, decades-old ties have 355 words, post on telecom.economictimes.indiatimes.com at December 6, 2020. This is cached page on Bach Thien. If you want remove this page, please contact us.