Noel Tata Seeks Board Review of SP Group Exit Plan
Noel Tata has asked the Tata Sons board to examine a Rs 25,000-crore funding proposal from Shapoorji Pallonji Group, made through a capital reduction. He also wants the board to separately assess Tata Trusts' restructuring plan, which aims to keep the holding company unlisted. Both proposals are slated for discussion.
Context
Context: Tata Sons is the holding company of the Tata Group and its shares are not listed on the stock market. Shapoorji Pallonji Group and Tata Trusts are both major shareholders, so decisions here shape who controls the group.
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