InvestorQ : Is it true that the Tata Group has agreed to purchase the stake of the Mistry family in Tata Son?
Dilmini Mercia made post

Is it true that the Tata Group has agreed to purchase the stake of the Mistry family in Tata Son?

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Dawn Cherian answered.
1 month ago
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Tata group informed the Supreme Court about its willingness to buy shares of Tata Sons from the Shapoorji Pallonji group. The SP group currently needs funds and this offer was made to the Mistry family after Tatas objected to their pledging of Tata Sons shares.

The Supreme Court bench ordered a status quo for four weeks on any transfer or pledge of shares of Tata Sons till the next hearing scheduled on 28 October. However, time may be running out for the SP group and they may not be keen to wait for so long.

What remains to be seen if the Mistry family sells only part of the shares in Tata Sons or Ratan Tata insists on the entire stake to be sold back. The total value of holding by Mistry family in Tata Sons is pegged at around Rs.150,000 crore.

Tata Sons was represented by Harish Salve and Abhishek Manu Singhvi who argued that any pledge will be tantamount to transfer of shares and Tata was willing to exercise their right of first refusal even now. Mistry family is represented by C Ariyama Sundaram.

Pallonji Mistry has already hinted that he would be willing to call off the 70-year link with the Tata Group.

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