BENGALURU/MUMBAI: The friction continues between Shapoorji Pallonji Group, the largest public shareholder of Tata Sons, and the philanthropic entities that control the Tata empire.
This, despite a change of guard at the Tata Trusts with Noel Tata taking over as chairman this October.
The chief executive of Tata Trusts told Mint in an email response to a questionnaire sent on Tuesday that Tata Sons' shares cannot be used as collateral for fresh loans by the SP Group.
According to an executive privy to the development, Shapoorji Pallonji Group plans to use the 18.4% shares it owns in Tata Sons, the holding company of the Tata Group, as collateral to replace its current loans totaling ₹22,000 crore ($2.6 billion) that are payable by March 2025.
This story is from the December 11, 2024 edition of Hindustan Times Thane.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 11, 2024 edition of Hindustan Times Thane.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Tiger and Charlie hit five straight birdies, share lead
Tiger Woods and 15-year-old son Charlie ran off five straight birdies on the back nine for a 13-under 59 in the scramble format, giving them a share of the lead in the PNC Championship in Woods' first competition since back surgery in September.
Smriti, Renuka sparkle as India crush WI by 211 runs
The opener's 91 helps pile on the runs in 1st ODI before Renuka's fifer bundles out WI
Big win for Liverpool, Everton hold Chelsea
Liverpool extended their lead at the top of the Premier League with a dominant but chaotic 6-3 win at Tottenham Hotspur on Sunday thanks to doubles from Luis Diaz and Mohamed Salah.
Atletico seal late win at Barca, top La Liga
Atletico Madrid came from behind to snatch a last-gasp 2-1 victory over Barcelona and claim leadership of La Liga on Saturday.
Lenders auction more gold as Reserve Bank steps up scrutiny
Companies lending against gold are auctioning the collateral in higher quantities to recover stressed loans, at a time of rising regulatory scrutiny over the sector.
DAMANI NIXES BAT PICK FOR CHAIR OF VST INDUSTRIES
Top billionaire investor and D-Mart promoter Radhakishan Damani opposed the candidate for chairmanship proposed by British American Tobacco (BAT) for its Indian unit VST Industries Ltd, leading to his rejection at a shareholder vote, according to voting disclosures and an executive privy to the development.
Dozen auto firms set to be excluded from PLI scheme
These automobile companies have not been able to start investing as planned
Apex auto tester looks to accelerate to green lane
India's primary vehicle research and testing body plans to expand facilities that are focused on so-called new energy vehicles, seeking to keep pace with the government's rapidly accelerating green mobility drive.
Pakistan govt forms panel for talks with ex-PM Khan's party
The Shehbaz Sharif-led Pakistan government, on Sunday, formed a negotiation committee to start formal talks with jailed former prime minister Imran Khan's Pakistan Tehreek-e-Insaf (PTI) party after it threatened to give a call for civil disobedience.
Trudeau under fire; liberals eye Freeland
Pressure continues to mount on Canadian Prime Minister Justin Trudeau to quit, even as a movement is afoot within the ruling Liberal Party caucus for him to be replaced by Chrystia Freeland, who was Deputy PM and Finance Minister till her bombshell resignation, on Monday.
