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“The sp-Tata relationship, which lasted more than 70 years, was based on mutual trust, good faith and friendship. Now, with a heavy heart, he believes that the separation of interests would best serve all interest groups,” he said. Tata | Group Shapoorji Pallonji group | Tata Sons Our governance philosophy is to ensure fair, transparent, accountable and ethical management to protect the interests of all stakeholders, including shareholders, employees, customers, sellers, regulators and society. As a responsible entrepreneur, Tata Sons follows the laws of the country in letter and spirit. Tata Sons also goes beyond mere compliance to highlight certain behaviours and standards for Tata Group operating companies. After Tuesday`s hearing, THE SC banned Mistry from mortgaged or sold its stake in Tata Sons and asked it to maintain the status quo until its next hearing on October 28, when it will begin hearing the final arguments in the case. In an attempt to end a long and bitter dispute with the Tata Group, the SP Group, which belongs to the Family of Mistry billionaires, told the Supreme Court (SC) on Tuesday that it would leave Tata Sons, provided a quick, just and equitable solution was found. “The Tata Group has undergone significant changes. A generation of Auntie executives has retired, which has had an impact on the future management of the group. Some of these executives, who retired from the board of Tata Sons, also served as agents of the majority shareholders — Tata Trusts,” mistry said. “Tata Sons has stepped up its institutional efforts to crack down on the Socialist Group in the midst of a global crisis caused by the COVID pandemic and cause irreparable damage.
The 150-year-old SP Group is the country`s second largest construction group and carries out projects of national importance in India and abroad. The other segment, in particular, is the micro, small and medium-sized enterprises (MSME) sector. “Our group companies have a policy of paying legitimate fees in a timely manner. In the current situation, we will monitor this closely to ensure that such levies are paid immediately to secure liquidity,” he said. Such restrictions on fundraising for business groups whose finances and revenues have been affected by the COVID 19 pandemic could be detrimental.