Shapoorji Pallonji group to file settlement terms on Tata Sons exit with SC

Shapoorji Pallonji (SP) Group is all set to file its settlement terms with the Supreme Court (SC) by Tuesday. This will ultimately see the exit of the cash-strapped Pallonji Group from Tata Sons.

With this, the hearing in the Tata versus Mistry case is likely to be adjourned to next month, said a source close to the development. “The settlement between Tata Group and SP Group is good news for both parties. The negotiations will now move towards the valuation of 18.4-per cent stake in Tata Sons,” clarified a source.

The Mistrys have pegged the valuation of their stake in Tata Sons at Rs 1.78 trillion, while Tata Group pegs the valuation far lower. “There is a possibility that the independent valuers for Tata Sons will be appointed with the SC’s consent,” said the source.