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No formal proposal yet from SP group on separation, says Tata Sons

Tata Sons reiterates that it will only respond in court; settlement remains deadlocked

tata sons, bombay house
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A corporate lawyer said both parties do not have any other option but to negotiate

Dev Chatterjee Mumbai
Shapoorji Pallonji (SP) Group, which owns 18.5 per cent stake in Tata Sons, has not sent any formal request to separate from Tata Group, the latter said on Thursday. 

“After the Supreme Court (SC) order on September 22 disallowing SP Group to pledge any Tata Sons shares, SP Group issued a statement that day stating its desire to separate from Tata Group. This statement resulted in considerable confusion and speculation in the media,” said Tata Sons. 

“Tata Group states it has to date not received any formal request or proposal from SP Group on this. Since the matter is sub-judice before the

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