SP slaps notice on Tata Sons board, seeks damages for blocking fund raise

Notice questions actions of Tata Sons independent directors, Mistrys say they are duty bound to protect interests of minority shareholders

The Shapoorji Pallonji group, which is fighting a legal battle with Tata group, has slapped a notice for damages against the board members of Tata Sons, asking their complicity in the decision to block them from raising funds against the security of Tata Sons shares. 

The notice sought an explanation from TSL board members, particularly the independent directors, whether they gave their consent to the oppressive action that caused prejudice to a minority shareholder. 

The notice from the SP group was slapped after Tata Sons moved the Supreme Court early this month blocking SP group from pledging part of its 18.5 per