InvestorQ : What is the latest update on the Tata Mistry case over the stake sale?
indhumathi Sayani made post

What is the latest update on the Tata Mistry case over the stake sale?

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6 months ago
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The Tata-Mistry case continues to go on with twists and turns. On Wednesday, Harish Salve, the counsel for the Tatas, underlined in court that Mistry family had benefited substantially from their holding the Tata Group. The Mistry family holding in Tata Sons had grown from Rs.69 crore in 1965 to Rs.58,000 crore in 2016.

That is surely a huge leap in value that cannot be ignored. In fact, Salve has clarified that allegations about mismanagement were largely unfounded. The Mistry family which owned 18.4% in Tata Sons had never raised the objection in the past and this appears to be more of an afterthought after the removal of Cyrus Mistry from the chairmanship.

Salve also pointed out to the court that the real issue was not about Tata mismanagement but a backdoor attempt by Cyrus Mistry to undermine the Tatas within Tata Sons despite the Tata Trusts owning 66% in the private company. The hearing continues on 10-Dec.

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