Wadia illegally sold 8.69% Tata Sons stake
The New Indian Express Belagavi|December 16, 2024
A public interest litigation has alleged that Bombay Dyeing group chairman Nusli Wadia has misappropriated 8.69% stake that FE Dinshaw Ltd owned in Tata Sons since the 1920s, and transferred the shares to the Shapoorji Pallonji group in the 1970s soon after he was made the administrator of the Indian trust, which owned the stake in FE Dinshaw Ltd.
BENN KOCHUVEEDAN @Mumbai
Wadia illegally sold 8.69% Tata Sons stake

Though the petition could not calculate the actual value of the share transaction, given that the Tata group is worth over $150 billion today, the value involved could be around $14 billion or ₹1.2 lakh crore. Dinshaw Trust, which was established by Edulji Dinshaw, the son of the senior Dinshaw, willed all its assets to two New York-based American charities.

The Indian assets of the trust included the 8.69% holding it had in Tata Sons, and over 1,000 acres of land around Malad in the northwestern suburb of the megapolis. Wadia claimed ownership over all these assets following an agreement on 1 August 2003.

هذه القصة مأخوذة من طبعة December 16, 2024 من The New Indian Express Belagavi.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 16, 2024 من The New Indian Express Belagavi.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من THE NEW INDIAN EXPRESS BELAGAVI مشاهدة الكل
Chelsea's Mudryk fails drugs test: Club
The New Indian Express Belagavi

Chelsea's Mudryk fails drugs test: Club

CHELSEA forward Mykhailo Mudryk has failed a doping test, the Premier League club said on Tuesday, as reports stated the Ukraine international has been provisionally suspended.

time-read
1 min  |
December 18, 2024
Trump says believer in polio vax after warning from Rep senate leader
The New Indian Express Belagavi

Trump says believer in polio vax after warning from Rep senate leader

IN a freewheeling press conference at his Mar-a-Lago club, President-elect Donald Trump said on Monday he would consider pardoning embattled New York Mayor Eric Adams, declared the country was \"not going to lose\" the polio vaccine and weighed in on the flurry of drone sightings over New Jersey.

time-read
1 min  |
December 18, 2024
The New Indian Express Belagavi

Vedant Foundation holds free breast cancer check-up camp

\"Not all types of breast cancers are painful. Most of the time they are painless.

time-read
1 min  |
December 18, 2024
NIA court convicts three IM operatives
The New Indian Express Belagavi

NIA court convicts three IM operatives

THE SPECIAL Court for NIA Cases convicted three Indian Mujahideen (IM) operatives for hatching a conspiracy to carry out blasts ahead of the then US President Barack Obama's visit to India for Republic Day in 2015, as per instructions from Pakistan.

time-read
1 min  |
December 18, 2024
Hopcoms outlets on verge of closure
The New Indian Express Belagavi

Hopcoms outlets on verge of closure

GOING by the current trend of online platforms and private players selling vegetables and fruits procured directly from farmers at competitive prices, outlets of the Karnataka government-owned Horticultural Producers' Cooperative Marketing and Processing Society (Hopcoms) are on the verge of closure.

time-read
1 min  |
December 18, 2024
The New Indian Express Belagavi

RAHUL AND JADEJA BRING ORDER AS INDIA TAIL WAGS

SOMEWHERE in the middle of the first innings, Virat Kohli rushed out of the Gabba dressing room, called up Abhimanyu Easwaran, told him something in earnestness and sent him off the ground.

time-read
3 mins  |
December 18, 2024
The New Indian Express Belagavi

Two World Champions, 31 GMs, Tamil Nadu is the best: Anand

OPEN rooftop car. Scores of people. Cavalcade of cars. It was another maddening but memorable day in the newly-crowned world champ, D Gukesh's, life.

time-read
2 mins  |
December 18, 2024
The New Indian Express Belagavi

Rana wouldn't have got into our playing XI: Gujarat coach Klinger

GUJARAT GIANTS, after finishing last in the back-to-back Women's Premier League points table, went into the mini-auction looking to make a few important changes.

time-read
2 mins  |
December 18, 2024
The New Indian Express Belagavi

Bid in satellite spectrum not feasible: Scindia

A day after Congress leader Jairam Ramesh raised concerns over the government's decision to administratively allocate satellite spectrum in the country, communications minister Jyotiraditya Scindia on Tuesday defended the move, saying that satellite spectrum is neither suitable nor practical for auction.

time-read
1 min  |
December 18, 2024
The New Indian Express Belagavi

ITC Hotel demerger from January 1, 2025

FMCG giant ITC Ltd has fixed January 1, 2025 as the effective date for the demerger of its hotel business after receiving an order from the National Company Law Tribunal (NCLT).

time-read
1 min  |
December 18, 2024