The Shapoorji Pallonji Group, the largest minority shareholder in Tata Sons, the holding company of Tata Group, said on September 22 that a separation from India’s largest conglomerate would be required to protect the interest of all stakeholders. Here are five things you need to know about the latest development.
What exactly did the Shapoorji Pallonji Group announce on September 22?
The Shapoorji Pallonji (SP) Group, the biggest minority shareholder in Tata Sons, told the Supreme Court on September 22 that due to the impact of the ongoing litigation with the Tata’s "on livelihoods and the economy", it is necessary to exit and separate from the Tata group.
The SP group holds 18.37 percent stake in Tata Sons and believes the move is necessary to protect the interest of all stakeholders.