Business conglomerate Shapoorji Pallonji Group on Thursday said that in November 2013, Cyrus Mistry had issued an order to all Tata Group companies to stop giving new projects to the SP group, Mint reported. Mistry was then the chairman of Tata Sons.
In 2012-13, Tata Group orders were worth Rs 1,125 crore but reduced to zero in 2015-16, the group said, adding that any pending orders are insignificant.
This statement was in reply to news reports that said Tata Sons has ordered its group companies to end all business dealings with the Shapoor Pallonji Group. The report added that the group holds 18.4% in Tata Sons, and about 50 of its companies will be affected.
On February 6, shareholders of Tata Sons had voted to remove Mistry from the post of director. Mistry had stepped down from all Tata Group companies on December 19, alleging that Ratan Tata had staged “an illegal coup” the day he was sacked from his post.
The holding company had accused Mistry of misleading the 2011 selection committee set up to appoint Ratan Tata’s successor. On January 12, Natarajan Chandrasekaran was named the new chairperson of Tata Sons.
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