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Mistry family files plan for divorce from Tatas in SC

Oct 30, 2020 11:48 IST

The Shapoorji Pallonji Group, owned by the Mistry family, has sought a formal separation from the Tata Group in the Supreme Court. The group has proposed that its stake in Tata Sons be swapped for a pro-rata stake in the Tatas' listed companies. The corporates have been embroiled in a legal battle since 2016 when Cyrus Mistry was sacked as chairman of Tata Sons. According to the plan submitted in the top court, the SP Group will get a non-cash settlement - which is in equities - for its interest in listed Tata Group entities.