Six Parsi groups back Tata Trusts in letter to Modi
Business
Six Parsi Zoroastrian groups, including the Bombay Parsi Punchayet, have written to Prime Minister Modi backing Tata Trusts in its ongoing clash with Tata Sons.
They say this isn't just about business, it's about protecting the values and social responsibility that the Tata Group is known for.
According to them, keeping Tata Trusts as the majority stakeholder is vital for upholding ethics and philanthropy.
RBI order fuels Tata leadership split
The tension began when the Reserve Bank of India told Tata Sons it had to go public by 2025, but Tata Sons wanted to stay private and tried (unsuccessfully) to deregister.
This disagreement has fueled leadership drama and split opinions among big shareholders, like Shapoorji Pallonji Group.