After Tata Capital, Tata Sons writes off Rs 700 cr dues from Siva group

Tata Sons was to get Rs 700 crore from Siva group for the buyback of Tata Teleservices shares from NTT Docomo

Within weeks of unlisted Tata Capital writing off its massive loans given to Chennai-based entrepreneur C Sivasankaran, Tata Sons, the group's holding company, has also written off Rs 700 crore dues from the Siva group.

Sivasankaran is a close friend of group patriarch Ratan Tata and had played an important role during the fight between Tata and former chairman Cyrus Mistry and Nusli Wadia.

As per Tata Sons annual report of 2017, Tata Sons was to get Rs 700 crore from Siva group for the buyback of Tata Tele shares from NTT Docomo. But, after Siva defaulted to the payment