Parting proposal: Shapoorji Pallonji Group seeks stake in all Tata group firms

The Shapoorji Pallonji (SP) Group has proposed a non-cash settlement for its 18.4% stake in Tata Sons. It has offered a pro-rata division of all the assets of the holding firm as part of the settlement and has valued its stake in Tata Sons at Rs 1.75 lakh crore.

In its filing before the Suprem Court where the matter is pending and hearing is likely to resume from November 3, the SP Group has sought a direct stake in all the listed companies of the Tata Group, which includes a 13.22% stake in Tata Consultancy Service based on the the formula suggested by it. It has said as per this scheme its stake in other listed firms of the group would be below 10%. It has also sought a pro-rata share of the Tata brand and asked for a neutral third-party valuation for the unlisted assets adjusted for net debt.