Shapoorji Pallonji Group submits plan to Suprem Court for separation from Tata Group
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Update time : 2020-10-29 22:47:24
Mumbai: The Shapoorji Pallonji Group on Thursday said it has submitted a plan to Suprem Court to end its seven decades-old association with the Tata Group. The Mistrys have valued their holding in the Tatas at Rs 1.75 lakh crore, it informed the apex court, which is hearing the long-drawn legal battle between the two groups that began after the Tatas in a boardroom coup on October 28, 2016 sacked Cyrus Mistry as the Chairman.
"Tata Sons is effectively a two-group company, with the Tata Group comprising Tata Trusts, Tata family members and Tata companies holding 81.6 per cent of the equity share capital, and the Mistry family owning the balance 18.37 per cent," the Shapoorji Pallonji Group said in a statement quoting from its submission to the apex court.
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