Wadia illegally sold 8.69% Tata Sons stake
The New Indian Express Kannur|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 Kannur.

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 Kannur.

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 KANNUR مشاهدة الكل
The New Indian Express Kannur

Words of Wisdom for Yashasvi

During a net session ahead of the Boxing Day Test in Melbourne, Kohli, Rahul and coach Gambhir give pep talks to Mumbai batter, who has struggled to spend time in the middle

time-read
3 mins  |
December 23, 2024
The New Indian Express Kannur

Three-star Blasters down Mohammedan

KERALA Blasters FC players delighted the home crowd to record a dominant 3-0 win over Mohammedan SC in the Indian Super League at the Jawaharlal Nehru Stadium here on Sunday.

time-read
1 min  |
December 23, 2024
The New Indian Express Kannur

Man Utd humiliated, Chelsea held

MANCHESTER UNITED crashed to a humiliating 3-0 home defeat to Bournemouth in the Premier League on Sunday as Ruben Amorim lost for the fourth time in his nine games in charge of the troubled Old Trafford club while Chelsea were held to a goalless draw at Everton.

time-read
1 min  |
December 23, 2024
The New Indian Express Kannur

The making of fast bowler Boland: Cult hero of MCG

ON a hot Saturday afternoon at the AH Butler Oval, Frankston Peninsula Cricket Club was playing against Camberwell Magpies Cricket Club in the local game on the outskirts of Melbourne.

time-read
3 mins  |
December 23, 2024
The New Indian Express Kannur

Mandhana climbs another mountain as India beat West Indies

THERE is a famous bridge that connects the city of Sangli with the rest of the world on the river Krishna called Irwin Bridge.

time-read
2 mins  |
December 23, 2024
The New Indian Express Kannur

Nat'l badminton: Unseeded Adarshini enters semifinals

TAMIL NADU'S Sathish Kumar K, who's the No 1 seed, and Adarshini Shri NB entered the semifinals of the Senior National Badminton Championships in Bengaluru.

time-read
1 min  |
December 23, 2024
The New Indian Express Kannur

KNOW LINEAR AND LATERAL THINKING

S a result of geopolitical tensions, scheduled general elections in India during the mid-year and in the USA towards the end of the year as well as valuations that had sky-rocketed, volatility during 2024 was anticipated by many of us.

time-read
2 mins  |
December 23, 2024
The New Indian Express Kannur

IS ALGORITHMIC TRADING FOR YOU?

FINANCIAL KNOWLEDGERAJAS KELKAR(The author is editor-in-chief at www.moneyminute.in)TECHNOLOGY should expand the scope of human skills. There are things that you can do yourself using your skills. You can use technology to support your skills and create something even more potent than before.

time-read
2 mins  |
December 23, 2024
The New Indian Express Kannur

Credit card defaults could hurt you badly now

With apex court rejecting 30% cap on card interest rates, issuers will now have more flexibility to set rates

time-read
2 mins  |
December 23, 2024
The New Indian Express Kannur

Banks' profits spike in first 9 mths of 2024

BANKS have raked in as much as ₹2.7 lakh crore in net income in the first nine months of 2024.

time-read
2 mins  |
December 23, 2024