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\nMUMBAI: <\/strong>The board of Tata Sons<\/a> under N Chandrasekaran<\/a> has ordered its group companies to scrap all business dealings with Cyrus and Shapoor Mistry’s SP Group<\/a>, putting at risk transactions worth hundreds of crores of rupees.
\n
The move is a significant step towards terminating all ties with the Shapoorji Pallonji Group and indicates that the battle between the two groups, which was ignited when Cyrus Mistry<\/a> was sacked as Tata Sons chairman in October last year, is showing no signs of coming to an end. SP Group holds about 18.4% in Tata Sons.
\n
\nAlmost 50 companies of the SP Group will be affected by the Tata Sons board decision taken on August 9. Cyrus Mistry and elder brother Shapoor Mistry each own half of the privately-owned SP Group.
\n
Emails sent to Tata Sons didn’t elicit any response till press time. ET reviewed a copy of the letter sent to one of the Tata group<\/a> companies asking it to take necessary steps to terminate all business dealings with SP Group.
\n
\nA top Tata Group source said the decision to terminate all forms of business dealings, whether directly or indirectly, through contracts or sub-contracting arrangements, with the SP Group came after ‘disparaging’ statements made against Tata Sons by Cyrus Mistry and his associates, with the intention of casting a ‘negative light’ on the Tata Group.
\n
\n\"\"
\n
The directive has been sent to all group companies including Tata Steel, Tata Power, Tata Chemicals<\/a> and Tata Motors.<\/a> Smaller group firms such as Voltas<\/a> and Trent, which is chaired by Noel Tata, half-brother to Ratan Tata and brother-in-law of the Mistry brothers, have also received the order.
\n
\nAll Tata Group companies are said to be acting on the Tata Sons directive, which came to them on August 14.
\n
Key SP group companies to be affected by this letter include Afcons Infrastructure, Eureka Forbes<\/a> and Forbes and Company Ltd. It remains to be seen whether the SP Group will challenge the Tata Sons move in the courts.
\n
\n“As the promoter and principal shareholder of your company and as the custodian of the ‘Tata’ brand, Tata Sons does not support any businesses dealing in any form, whether directly or indirectly, through contracts or subcontracting arrangements,” the directive signed by FN Subedar, chief operating officer of Tata Sons, says.
\n
\nThe letter says that (Cyrus) Mistry has been aided and supported by the SP Group in his “hostile approach” to the Tata Group, a key reason for the Tata group to feel aggrieved.
\n
\nIt details that certain SP Group companies have presented to the National Company Law Tribunal (NCLT) and the public at large, an “incorrect and distorted version of facts” pertaining to the business and affairs of Tata Sons and certain Tata operating companies.
\n
\nAlso Read: Court stays Tata trustee’s suit against Mistry<\/a><\/strong>
\n
\nBy adopting such an adversarial approach of deliberately misrepresenting matters in public and in the ongoing litigation, Mistry and SP Group have attempted to damage the reputation of Tata Sons and several Tata operating companies and the goodwill associated with the ‘Tata’ brand, the letter says.
\n
\nMistry, the letter says, has engaged in such conduct with an intention of casting a negative light on Tata Sons and Tata Group companies. The hostile conduct was the reason why Mistry was removed as a director of Tata Sons by its shareholders, it adds.
\n
\nWhen Cyrus Mistry took over as chairman of Tata Sons, it was agreed that the Tatas will curtail and cease all business dealings with each other due to possible conflicts of interest.
\n
\nMistry was no longer a representative of the SP Group but represented the interests of Tata Trusts and other shareholders in the holding company.
\n
\nHowever, it is now learnt that this rule affected only the new manufacturing and construction contracts between the groups while existing arrangements in other areas were allowed to continue.
\n
\nRatan Tata, chairman of the Tata Trusts exchanged a few letters with Mistry in 2013 seeking details of transactions of the SP Group with Tata Group companies. Shapoor Mistry is running the operations at SP Group ever since brother Cyrus was appointed the chairman of Tata Sons.\n\n<\/body>","next_sibling":[{"msid":60096281,"title":"Financial regulators active in cyber security sans framework","entity_type":"ARTICLE","link":"\/news\/financial-regulators-active-in-cyber-security-sans-framework\/60096281","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"seoschemas":false,"msid":60096337,"entity_type":"ARTICLE","title":"Tata Sons to scrap all business dealings with Cyrus Mistry's group, putting huge money at risk","synopsis":"The latest move is a significant step which indicates that the bitter battle between the two groups is showing no signs of coming to an end.","titleseo":"telecomnews\/tata-sons-to-scrap-all-business-dealings-with-cyrus-mistrys-group-putting-huge-money-at-risk","status":"ACTIVE","authors":[{"author_name":"Satish John","author_link":"\/author\/479222248\/satish-john","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479222248.cms?width=250&height=250","author_additional":{"thumbsize":false,"msid":479222248,"author_name":"Satish John","author_seo_name":"satish-john","designation":"Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-08-17 08:39:12","lastupd":"2017-08-17 08:42:06","breadcrumbTags":["Tata Group","SP Group","Tata Chemicals","N Chandrasekaran","Cyrus Mistry","Tata motors.","Industry","forbes","Tata Sons","Voltas"],"secinfo":{"seolocation":"telecomnews\/tata-sons-to-scrap-all-business-dealings-with-cyrus-mistrys-group-putting-huge-money-at-risk"}}" data-authors="[" satish john"]" data-category-name="" data-category_id="" data-date="2017-08-17" data-index="article_1">

Tata Sons取消所有业务处理居鲁士Mistry的小组,将巨大的资金风险

最新举措是一个意义重大的一步,表明两组之间的激烈战斗没有结束的迹象。

Satish约翰
  • 更新2017年8月17日08:42点坚持

孟买:董事会塔塔的儿子下N Chandrasekaran已下令其集团公司取消所有业务处理与塞勒斯和Shapoor Mistry的吗SP集团,把几百卢比的卢比的交易风险。

此举是一个重要的一步终止所有与沙普尔吉-帕隆吉公司集团的关系,表明两组之间的战斗,当点燃塞勒斯Mistry被解雇Tata Sons主席在去年10月,显示没有结束的迹象。在塔塔桑SP集团持有约18.4%。

近50家公司的SP集团将受影响的Tata Sons董事会决定采取8月9日。塞勒斯Mistry和哥哥Shapoor Mistry各持有一半的私有SP组。

邮件发送给塔塔的儿子没有引起任何反应,直到截稿时间。等了这封信的副本发送给的一个塔塔集团企业要采取必要的措施来终止所有与SP集团商业交易。

塔塔集团高层消息人士称,决定终止任何形式的商业交易,是否直接或间接地通过合同或分包安排,与SP组后“蔑视”陈述反对Tata Sons Mistry塞勒斯和他的同事,他的意图铸造塔塔集团的“负面”。



指令已被发送到所有集团公司包括塔塔钢铁,塔塔的力量,塔塔化工和塔塔汽车(Tata Motors)。小等集团公司沃尔塔特伦特,诺埃尔塔塔主持同父异母的兄弟Mistry Ratan Tata和姐夫的兄弟,也收到了订单。

所有的塔塔集团公司是作用于塔塔桑指令,是8月14日。

关键SP集团公司受到这封信包括Afcons基础设施,尤里卡《福布斯》和《福布斯》有限公司还有待观察是否SP集团将在法庭上挑战Tata Sons移动。

”作为贵公司的发起人和主要股东和托管人的“塔塔”品牌,塔塔桑不支持任何形式的商业交易,是否直接或间接地通过合同或分包安排,”签署的指令FN Subedar, Tata Sons,首席运营官说。

这封信说(Cyrus) Mistry协助和支持的SP集团在他的“敌意收购”塔塔集团,塔塔集团的一个关键原因感到愤愤不平。

它的细节,某些SP集团公司提出了国家公司法法庭(NCLT)和公众,一个“事实错误和扭曲的版本”有关的业务和事务Tata Sons和某些塔塔运营公司。

还读:Mistry法院保持塔塔受托人的诉讼

采用这种对抗性的方式在公共场合故意歪曲问题和正在进行的诉讼,Mistry和SP集团试图损害Tata Sons的声誉和几个塔塔运营公司和相关的商誉“塔塔”品牌,信中说。

Mistry,信中说,从事这种行为的意图铸造- Tata Sons,塔塔集团公司。Mistry的敌对行为是原因被导演Tata Sons的股东,它补充说。

当塞勒斯Mistry接任主席塔塔的儿子,这是同意再见彼此将减少和停止一切商业交易将可能的利益冲突。

Mistry不再是SP集团的代表,但塔塔信托公司和其他股东的利益代表的控股公司。

然而,现在学会了,这条规则只影响团体之间的新的制造业和建筑业合同而现有安排在其他领域被允许继续下去。

董事长拉丹•塔塔(Ratan Tata)塔塔在2013年与Mistry信任交换了几个字母寻求交易的细节的SP与塔塔集团公司集团。Shapoor Mistry运行操作SP集团自从哥哥赛勒斯被任命为主席塔塔的儿子。
  • 发布于2017年8月17日上午08:39坚持
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  • Tata Sons取消所有业务处理居鲁士Mistry的小组,将巨大的资金风险
\"\"
\nMUMBAI: <\/strong>The board of Tata Sons<\/a> under N Chandrasekaran<\/a> has ordered its group companies to scrap all business dealings with Cyrus and Shapoor Mistry’s SP Group<\/a>, putting at risk transactions worth hundreds of crores of rupees.
\n
The move is a significant step towards terminating all ties with the Shapoorji Pallonji Group and indicates that the battle between the two groups, which was ignited when Cyrus Mistry<\/a> was sacked as Tata Sons chairman in October last year, is showing no signs of coming to an end. SP Group holds about 18.4% in Tata Sons.
\n
\nAlmost 50 companies of the SP Group will be affected by the Tata Sons board decision taken on August 9. Cyrus Mistry and elder brother Shapoor Mistry each own half of the privately-owned SP Group.
\n
Emails sent to Tata Sons didn’t elicit any response till press time. ET reviewed a copy of the letter sent to one of the Tata group<\/a> companies asking it to take necessary steps to terminate all business dealings with SP Group.
\n
\nA top Tata Group source said the decision to terminate all forms of business dealings, whether directly or indirectly, through contracts or sub-contracting arrangements, with the SP Group came after ‘disparaging’ statements made against Tata Sons by Cyrus Mistry and his associates, with the intention of casting a ‘negative light’ on the Tata Group.
\n
\n\"\"
\n
The directive has been sent to all group companies including Tata Steel, Tata Power, Tata Chemicals<\/a> and Tata Motors.<\/a> Smaller group firms such as Voltas<\/a> and Trent, which is chaired by Noel Tata, half-brother to Ratan Tata and brother-in-law of the Mistry brothers, have also received the order.
\n
\nAll Tata Group companies are said to be acting on the Tata Sons directive, which came to them on August 14.
\n
Key SP group companies to be affected by this letter include Afcons Infrastructure, Eureka Forbes<\/a> and Forbes and Company Ltd. It remains to be seen whether the SP Group will challenge the Tata Sons move in the courts.
\n
\n“As the promoter and principal shareholder of your company and as the custodian of the ‘Tata’ brand, Tata Sons does not support any businesses dealing in any form, whether directly or indirectly, through contracts or subcontracting arrangements,” the directive signed by FN Subedar, chief operating officer of Tata Sons, says.
\n
\nThe letter says that (Cyrus) Mistry has been aided and supported by the SP Group in his “hostile approach” to the Tata Group, a key reason for the Tata group to feel aggrieved.
\n
\nIt details that certain SP Group companies have presented to the National Company Law Tribunal (NCLT) and the public at large, an “incorrect and distorted version of facts” pertaining to the business and affairs of Tata Sons and certain Tata operating companies.
\n
\nAlso Read: Court stays Tata trustee’s suit against Mistry<\/a><\/strong>
\n
\nBy adopting such an adversarial approach of deliberately misrepresenting matters in public and in the ongoing litigation, Mistry and SP Group have attempted to damage the reputation of Tata Sons and several Tata operating companies and the goodwill associated with the ‘Tata’ brand, the letter says.
\n
\nMistry, the letter says, has engaged in such conduct with an intention of casting a negative light on Tata Sons and Tata Group companies. The hostile conduct was the reason why Mistry was removed as a director of Tata Sons by its shareholders, it adds.
\n
\nWhen Cyrus Mistry took over as chairman of Tata Sons, it was agreed that the Tatas will curtail and cease all business dealings with each other due to possible conflicts of interest.
\n
\nMistry was no longer a representative of the SP Group but represented the interests of Tata Trusts and other shareholders in the holding company.
\n
\nHowever, it is now learnt that this rule affected only the new manufacturing and construction contracts between the groups while existing arrangements in other areas were allowed to continue.
\n
\nRatan Tata, chairman of the Tata Trusts exchanged a few letters with Mistry in 2013 seeking details of transactions of the SP Group with Tata Group companies. Shapoor Mistry is running the operations at SP Group ever since brother Cyrus was appointed the chairman of Tata Sons.\n\n<\/body>","next_sibling":[{"msid":60096281,"title":"Financial regulators active in cyber security sans framework","entity_type":"ARTICLE","link":"\/news\/financial-regulators-active-in-cyber-security-sans-framework\/60096281","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"seoschemas":false,"msid":60096337,"entity_type":"ARTICLE","title":"Tata Sons to scrap all business dealings with Cyrus Mistry's group, putting huge money at risk","synopsis":"The latest move is a significant step which indicates that the bitter battle between the two groups is showing no signs of coming to an end.","titleseo":"telecomnews\/tata-sons-to-scrap-all-business-dealings-with-cyrus-mistrys-group-putting-huge-money-at-risk","status":"ACTIVE","authors":[{"author_name":"Satish John","author_link":"\/author\/479222248\/satish-john","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479222248.cms?width=250&height=250","author_additional":{"thumbsize":false,"msid":479222248,"author_name":"Satish John","author_seo_name":"satish-john","designation":"Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-08-17 08:39:12","lastupd":"2017-08-17 08:42:06","breadcrumbTags":["Tata Group","SP Group","Tata Chemicals","N Chandrasekaran","Cyrus Mistry","Tata motors.","Industry","forbes","Tata Sons","Voltas"],"secinfo":{"seolocation":"telecomnews\/tata-sons-to-scrap-all-business-dealings-with-cyrus-mistrys-group-putting-huge-money-at-risk"}}" data-news_link="//www.iser-br.com/news/tata-sons-to-scrap-all-business-dealings-with-cyrus-mistrys-group-putting-huge-money-at-risk/60096337">