Corporate News
FOUR years after a boardroom coup ended in the abrupt ouster of Cyrus Mistry as Tata Group chairman and sparked India’s biggest corporate feud, the tycoon’s family signalled its intent to sell its 18% stake in Tata Sons Pvt – a move that could trigger another fight over who buys the shares.
The Mistry clan’s cash-strapped Shapoorji Pallonji Group, the largest minority shareholder of the US$113bil Tata empire’s holding firm, wanted to borrow money by using a part of its Tata stake as collateral.
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