As per the scheme of arrangement approved by the company's board of directors, a new entity - Forbes Precision Tools and Machine Parts Limited (FPTL) - will be carved out from Forbes & Co.
The nearly USD 30-billion diversified group, which owns 18.6 per cent in the USD 130-billion Tata Group, was founded by the late senior Pallonji Mistry (great-grandfather of Cyrus) in 1865 as Littlewood Pallonji & Co.
Actis’ new platform, called Bridgin Power, aims to build a portfolio of 1.2 gigawatts by 2028.
Chairman of Shapoorji Pallonji Group, Pallonji Mistry, the man behind iconic buildings in Mumbai and around, passed away on June 28 at the age of 93.
Business tycoon Pallonji Shapoorji Mistry, chairman of Shapoorji Pallonji Group, passed away at 93 on June 28.
A company spokesperson confirmed the death of the Indian tycoon after social media posts on the news spread.
Shapoorji Pallonji Group, the 150-year-old diversified conglomerate that owns Eureka Forbes, has interests in sectors ranging from construction and real estate to power and biotechnology. It is looking to ride the health, hygiene and home improvement wave on the back of Covid-19 .
The former chairman of the Tata Sons wrote this letter days after Supreme Court on March 26 ruled in favour of Tata Sons.
New Delhi, Mar 27 Adani Green Energy has acquired 100 per cent equity stake in Spinel Energy and Infrastructure from Hindustan Cleanenergy and Peri..
On being allowed limited time to argue, lawyer Janak Dwarkadas told the bench headed by Chief Justice SA Bobde: 'I feel like I'm in a T20 match with 12 balls left and 40 runs to score. I will now try to bat like Hardik Pandya'.
The top court was hearing on the fifth day the cross appeals filed by Tata Sons and Cyrus Investments against appellate tribunal NCLAT's order which had restored Cyrus Mistry as the executive chairman of the over $100 billion salt-to-software Tata conglomerate.
Arguing for Tata Sons in the Supreme Court, Advocate Harish Salve said that the SP Group seeking restructuring is “akin to winding up of Tata Sons.”
The differences over the valuation could prove detrimental to the cash-strapped SP Group, that has been locked in a legal battle with the Tatas since Cyrus Mistry’s unceremonious removal as Tata Group chairman in 2016.
'Sensorium' will have more than 1,100 premium 2 BHK and 3 BHK apartments, with units priced at Rs 64.4 lakh onwards.
While the Mistry family, controlling owners of the SP group, maintains that the value of their stake is Rs 1.78 trillion, the Tata Group pegs the valuation far lower.
InGovern has said the non-fulfilment of obligations by the promoters has resulted in a loss of over 75 percent in investment value for IPO investors as stock price has fallen from the issue price of Rs 780.
While this may bring an end to the relationship between the two Parsi families that goes back to 1965, are we looking at a fresh battle over the valuation now? Let’s find out in this edition of Big Story
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Sources close to the Shapoorji Pallonji Group peg the valuation of their 18.37 per cent stake at Rs 1,78,459 crore, including the value of the brand as well as the listed and unlisted entities
The sore point in this feud between the two business conglomerates was the ouster of Cyrus Mistry from the post of Tata Sons' chairman in 2016, a move that hit the headlines and how.
In a statement, the Shapoorji Pallonji Group, which owns 18 percent stake in Tata Sons, said a separation from the Tata group is necessary due to the potential impact this continuing litigation could have on livelihoods and the economy
The board of SWPL on September 15 approved the promoters' request for a further extension of time up to September 30, 2021, to facilitate funding for the repayment of part of the June 2020 installment and September 2020 installment.
The Shapoorji Pallonji Group, in turn, has asked the court to dismiss Tata Sons’ application, saying the “mere creation of a pledge on shares” does not mean the transfer of share title.
Talks are in early stages, but the Tata Sons stake is their biggest asset and the Shapoorji Group needs to infuse significant capital into their businesses.
"We are constantly evaluating the current situation in China due to the outbreak of coronavirus which will impact our business in the near term," Bikesh Ogra – Director and Global CEO, Sterling and Wilson Solar Limited said in a regulatory filing.