My family has always been a guardian of Tata Group: Cyrus Mistry

TIL Desk/Business/New Delhi/ Declaring his unwillingness to takeover the reigns of Tata Sons again, Cyrus Mistry, in a statement on Sunday, threw light on the relationship of his family-run Shapoorji Pallonji (SP) Group and the Tata Group and said that although a minority stakeholder, his family has been a guardian of the Tata Group for over five decades.

He said that the relationship between Tata Group and Shapoorji Pallonji Group, which owns 18.37 per cent stake in Tata Sons, spanned multiple decades and was built on common agreement and mutual faith. Mistry added that as a minority stakeholder, it was in his and SP Group’s own interest to ensure the long term success of Tata Group.

“As an 18.37 per cent shareholder, it is in our own interest to ensure the Group’s long-term success. My family, although a minority partner, has been a guardian of the Tata Group for over five decades,” Mistry said in his statement.