SP Group chairman Shapoorji Pallonji Mistry on Friday reiterated calls for public listing of Tata Sons to bring transparency, amid infighting among trustees of Tata Trusts which controls a 66 per cent stake in the holding company of the salt-to-software conglomerate. Shapoorji Pallonji family is the single largest minority shareholder with about 18.37 per cent in Tata Sons.
At a time when others are cutting on development of commercial property, plans to add 50% more of IT space.
A naturally reclusive nature and a conviction for the work to do the talking meant there was very little known about Mistry even during his time at the helm of Tata Sons. He did not do a single media interview from Bombay House.
If Tata Sons is listed, the special veto rights of Tata Trusts, under Article 121A, may have to go away.
Mehli Mistry is backed by three other trustees -- Pramit Jhaveri, Darius Khambata and Jehangir HC Jehangir -- against Tata Trusts Chairman Noel Tata and the two vice-chairmen, Venu Srinivasan and Vijay Singh.
The Tata Sons board has deferred a decision on the re-appointment of Natarajan Chandrasekaran as Chairman, signaling potential differences within the group. Concerns were raised about losses in certain group companies and the listing of Tata Sons.
In the decade and a half he has been at the helm of the Rs 9,000-crore group (Rs 90-billion), Mistry has helped it build an impressive portfolio.
Shapoorji Pallonji Group's head Pallonji Mistry died at his residence here, company officials said on Tuesday. Mistry, the largest individual shareholder in the Tata Group with a 18.4 per cent holding in the conglomerate, was 93.
Tata Sons, now debt-free, has asked the RBI to drop its 'upper-layer NBFC' tag and allow it to stay private.
Pallon has already joined the boards of some of the unlisted companies such as Afcons
With a net worth of $12.6 billion, Mistry is well known for constructing some of Mumbai's landmarks such as the Reserve Bank of India headquarters, The Taj Mahal Palace and Towers, and the Oberoi Hotels
Clarity on Tata Sons' position on listing, as of 2025, would help define the future of the group better, irrespective of the RBI stand. As of now, the ball is in the RBI's court, and everyone is watching the space, points out Nivedita Mookerji.
Former Tata Sons chairman Cyrus Mistry was on Sunday killed in a road accident after his car hit a divider in Maharashtra's Palghar district neighbouring Mumbai, a police official said.
Top honchos of the Tata group, including Tata Trusts Chairman Noel Tata and Tata Sons Chairman N Chandrasekaran, on Tuesday met Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman amid infighting among trustees over board appointments and governance issues.
Mistry indeed followed standards of corporate governance so that it should not create any controversies at a later date
After months of discord, the Tata Trusts appear to be moving towards reconciliation, with recent reappointments and open exchanges signalling a return to cooperative governance.
Tata Trusts, which exerts decisive influence over India's most valuable conglomerate through its about 66 per cent stake of Tata Sons, finds itself in the midst of infighting among its trustees over board appointment and governance issues.
The Supreme Court on Thursday dismissed a plea of the Sapoorji Pallonji (SP) group seeking a review of the 2021 verdict which had upheld the Tata group's decision to remove Cyrus Mistry as the executive chairman of the Tata Sons. A bench headed by Chief Justice N V Ramana, however, ordered the deletion of certain remarks made against Cyrus Mistry in the March 2021 verdict. Senior advocate Harish Salve, appearing for the Tata group, said the court may permit the deletion of one or a few sentences not for the reasons given in the application of the Sapoorji Pallonji (SP) group.
A quiet but consequential power struggle has erupted within the storied 156-year-old Tata Trusts just a year after the death of group patriarch Ratan Tata on October 9, 2024.
Experts view this as a case of "failed experiment" in succession
He is followed by Nandan Nilekani and Narayan Murthy in Hurun India Philanthropy List
Of the six chairmen that Tata group has had in its 148 years, the longest serving was Jehangir Ratanji Dadabhoy
'Cyrus was always very different. He would think before acting.'
Construction major Shapoorji Pallonji & Co will set up a real estate fund in the next one year. The fund will focus on investments in the domestic market, according to Shapoor Mistry, chairman of Eureka Forbes, a part of the Shapoorji Pallonji group.
Mistry is presently also the chairman of loss-making Forbes & Company Ltd listed on the Bombay Stock Exchange.
The billionaire Mistry family's estate is likely to soon change hands. The assets in the name of Cyrus Mistry, who died in September last year, may soon be divided equally among his wife Rohiqa and sons Firoz and Zahan, according to sources. The reorganisation will also include the 9.2 per cent stake in Tata Sons, which is currently in Cyrus Mistry's name and held through his investment company Cyrus Investments.
Ratan Tata: A Life, the much awaited biography, reveals that after a year of 'parallel running', Tata began having second thoughts about Cyrus Mistry's 'suitability'. 'Mistry targeted Ratan, the man who had elevated him from virtual oblivion into the mainstream of the Tatas...'
A family priest performed the prayers as per Parsi tradition before the last rites.
Shapoorji and Pallonji Group to contest Cyrus Mistry's ouster from Tata Sons
The Tata Trusts, led by the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust, hold a 66 per cent stake in Tata Sons, the Tata group's holding company.
The list of the prestigious Padma Awards 2016 awardees is out and superstar Rajnikanth is set to be honoured with the nation's second highest civilian award, the Padma Vibhushan.
With the addition of these two directors, the total Board strength of the company increases to 14 which include seven independent directors, including O P Bhatt, Tata Consultancy Services said.
Will it be Noel Tata, Ratan Tata's half brother?
President Pranab Mukherjee presented five Padma Vibhushan, eight Padma Bhushan and forty-three Padma Shri awards at the Rashtrapati Bhavan in New Delhi.
The Supreme Court on Friday set aside NCLAT order of December 18, 2019 restoring Cyrus Mistry as executive chairman of Tata Group.
'The quality of a leader should be such that even if the leader is not there, the institution carries on.'
Other legal options include approaching the NCLT alleging mismanagement and oppression of minority shareholder
The NCLAT, in its December 18, 2019 order, had restrained the company, its board of directors and shareholders from exercising the power under the article against minority members except in exceptional circumstances and in the interest of company. A bench headed by Chief Justice S A Bobde dealt with this issue in its 282-page verdict which set aside the NCLAT's order that had restored Cyrus Mistry as the executive chairman of the USD 100 billion salt-to-software conglomerate.
Dhirubhai Ambani lived in a one-room chawl in Mumbai with his wife and children and went on to establish the Reliance Group.
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