Shapoorji Pallonji Group to part ways with Tata Sons
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Update time : 2020-09-23 19:33:46
Signalling the end of a 70-year partnership with the Tatas, the Shapoorji Pallonji (SP) Group, which holds 18.37% stake in Tata Sons, on Tuesday said that “mutual co-existence of both groups at Tata Sons would be infeasible... and a separation from the Tata group is necessary”. This will mean the SP group selling its equity stake in Tata Sons. The move was triggered after the Suprem Court restricted the SP Group, till October 28, from pledging its shares in Tata Sons to raise debt.
