‘tata sons inflicted irreparable harm’: full statement from shapoorji pallonji group
‘tata sons inflicted irreparable harm’: full statement from shapoorji pallonji group"
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It is extremely unfortunate that the current leadership of Tata Sons has not only continued to take value destructive business decisions in a misguided effort to prove a point in these
proceedings. It is a matter of public record that several issues identified years earlier, continue to plague the group. Be it the operations of Tata Steel UK, where over the last three
years alone the operational losses have increased by an additional 11,000 crores, or the Group’s aviation businesses. These actions, or lack thereof, have meant that the total debt in the
major Tata group companies has increased by approximately Rs 100,000 crores in the last three years. Excluding TCS, the last quarters losses of all the listed group companies of
approximately 14,000 crores causes great concern. Unfortunately, the impact of these actions continue to hurt minority shareholders, be it the SP Group at Tata Sons or the millions of
shareholders of the listed companies in the Tata Group.
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