Shapoorji Pallonji Group, the largest minority shareholder with 18.37% stake in Tata Sons, on Tuesday said it is 'time to separate from Tata' to end a relationship that has spanned over 70 years.
The Shapoorji Pallonji group’s decision came soon after the Tata group on Tuesday told the Supreme Court that it was ready to buy the Mistry family’s stake in Tata Sons at the current market value.
The SP Group and Tatas have been engaged in a bitter legal battle ever since Cyrus Mistry was sacked as Chairman of Tata Sons in October 2016.