It was mentioned on 4 September, re-mentioned and served to SP Group on 5 September. In the application, Karanjwala and Co., representing Tata Sons said that the move was a violation of Tata Sons’ Articles of Association as it had the first right to buy the shares at fair market value. “SP Group’s assertion that there was a deliberate delay in listing the matter in the apex court by Tata Sons is completely false and unfounded," said a person familiar with the matter, requesting anonymity. SP Group firms hold a combined 18.4% stake in Tata Sons. The SP Group had on 15 September sent a legal notice to the Tata Sons board alleging that the application has caused irreparable damage.

Source: Mint September 21, 2020 01:30 UTC