Tata Sons Ltd’s shares pledged by the Shapoorji Pallonji (SP) Group are non-transferable, the Economic Times reported, citing Tata Trusts chief executive Siddharth Sharma.
Tata Trusts, which owns 66 percent of Tata Sons, are concerned about potential legal disputes with lenders if SP Group defaults on its payment obligations, the report said.
The SP Group, controlled by the Mistry family, has pledged its entire 18.37 percent stake in Tata Sons to secure funds from lenders.
