Tatas move SC to block Mistry-Brookfield deal involving pledged Tata shares

Mistrys say it's vindictive move aimed to delays fund raise; will jeopardise future of 60,000 employees and over 100,000 migrant workers

The Tata conglomerate has moved the Supreme Court against the Mistry group’s plan to raise funds from Canadian financial giant Brookfield by pledging shares of Tata Sons (TSL), the holding company.

Tata Sons moved the court on September 5, just a day after the Mistry group signed an agreement with Brookfield to raise Rs 3,750 crore as debt.

The Mistry family owns 18.5 per cent in Tata Sons while Tata Trusts and Tata group companies hold the rest.

Both the Tata group and the Mistry family are in a legal dispute over the rights of minority shareholders, with the Mistrys