Tata-Mistry feud takes bitter turn over separation claims
The legal tussle between Tata Sons and Shapoorji Pallonji (SP) Group seems to have taken another ugly turn as the latter has approached Supreme Court (SC) and claimed Rs 1.75 lakh crore from Tata Sons for its 18.37 per cent stake in it.
SP Group, controlled by Pallonji Mistry and his family, has filed a fresh petition in Supreme Court as part of its plan to separate from the Tata Group.
In its petition, the SP Group said, "Tata Sons is effectively a two-group company, with the Tata Group comprising Tata Trusts, Tata family members and Tata companies holding about 81.6 per cent of the equity share capital, and the Mistry family owning the balance 18.37 per cent."
The SP Group also said that the value of Tata Sons, which is the holding company of Tata Group, arises from its stake in listed equities, non-listed equities, the brand, cash balances and immovable assets.