Tata Sons spurn Cyrus Mistry truce offer in Supreme Court

Tata Sons on Thursday told the Supreme Court that Cyrus Mistry’s Shapoorji Pallonji group wanted to acquire pro rata 18 per cent share in all the companies run by Tata Sons as a severance package for the group’s 18 per cent in Tata Sons — which was “nonsense”, not acceptable to the company.

Winding up his arguments for Tata Sons, senior advocate Harish Salve told a bench headed by Chief Justice S.A. Bobde that R.N. Tata as chairman emeritus has to be kept in loop for the smooth functioning of the company which was not done by Mistry when he was at the helm.