The Tata Trusts and Tata Sons are said to be closely monitoring the Shapoorji Pallonji (SP) Groups bid to raise ₹20,000 crore from state-run institutions to refinance debt taken against stakes in the Tata Group holding company.
"Indian lenders and their credit committees would need to evaluate whether their inability to transfer or sell the security in a default situation represents an acceptable risk," said one of the persons.
Cyrus Mistry, on the other hand, could only stay in his position for four years before being removed in a boardroom coup led by Tata Trusts in 2016. Ratan Tata controlled the Trusts, which owned 66% of Tata Sons.
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