Mumbai: Edgy over Shapoorji Pallonji (SP) Group’s plans to roll over pledged Tata Sons shares to refinance over $2 billion debt, Tata Trusts has, for the first time, officially said these are non-transferable. The Trusts, which holds a controlling 66% in group holding company Tata Sons, is worried about possible litigation with lenders over enforcing … Read more
Mumbai: The Shapoorji Pallonji Group (SP Group) is offering ₹400 crore more to the bondholders of group company Goswami Infratech, in exchange for their consent to extend the deadline to meet certain covenants on ₹14,300 crore of borrowings. The company, which has to pay ₹1,400 crore in interest this month, has sought a four-month window … Read more
By Upmanyu Trivedi Tata Group rejected a truce offer by billionaire Pallonji Mistry’s conglomerate that suggested swapping the Mistry family’s stake for shares worth $24 billion in the listed Tata companies. “It’s nonsense. This kind of relief cannot be granted,” Tata’s lawyer Harish Salve said during a hearing before India’s Supreme Court on Thursday. “I’m … Read more