Tata Group to end all biz dealings with Cyrus Mistry's SP Group: Report

According to the report, the directive will put hundreds of crores of rupees at risk

Under Chairman N Chandrasekaran, Tata Sons' board has directed its group companies to put an end to all their business dealings with Cyrus and Shapoor Mistry’s SP Group, putting transactions worth several hundred crores at risk, reported the Economic Times on Thursday. 

According to the financial daily, close to 50 companies of the SP Group, which holds about 18.4 per cent in Tata Sons, will be affected by the decision taken on August 9. The report added that Cyrus Mistry and his elder brother, Shapoor Mistry, each own half of the privately-owned SP Group. 

The directive, the