Oppose Tata Sons' plan to go private: Mistry family to group companies

Cyrus Investments said the resolution proposed by Tata Sons was not in the best interests of the public shareholders of the company

The Shapoorji Pallonji Mistry family has written to listed Tata group companies holding stakes in Tata Sons to oppose the company’s bid to go private and vote against the proposal in the annual general meeting (AGM) of shareholders on Thursday. 

The Mistry family said the proposed move would not only be “detrimental to the interests of the minority shareholders”, but also dilute the governance standards at Tata Sons.

In a communication to the board of directors of Tata Steel, Indian Hotels, Tata Power, Tata Motors, and Tata Chemicals, the investment company of the Mistry family, Cyrus Investments, said the resolution