Home >Companies >News >SP Group’s plea to be heard on 2 Dec

MUMBAI: The Supreme Court on Wednesday adjourned to 2 December hearing in the case of alleged mismanagement and oppression of minority investors at Tata Sons Ltd to 2 December. Final arguments in the case will be heard on the allotted date.

The top court also took on record the 29 October plea, filed by Cyrus Investment and Sterling Investment, seeking separation from Tata Sons as part of additional relief in the minority shareholders' oppression case.

In its plea, the Shapoorji Pallonji group had alleged that basic obligation of protecting the rights of the largest non-Tata shareholder has been broken.

"The Court didn’t find it necessary to consider SP Group’s plea about their recently filed Applications (including about their demand for an exit from the company) at this stage," said sources close to Tata Sons.

The additional relief plea by SP group had added that Tata group would go to any lengths to prejudice the rights of SP group and its interest would not be protected. As part of the separation proposal for selling its 18.4% stake in Tata Sons, SP group has suggested a share swap, seeking it should be given shares in listed entities of Tata group.

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