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The fortunes of the Mistry family is now entirely at the discretion of the Tatas

In 1951 Shapurji Pallonji, the founder, bankrolled the production of the movie ‘Anarkali’ and it continues to ring the cash register. ‘Anarkali’ vastly augmented the SP fortunes and paved the way to its great riches. Today it owns 18.9% of Tata Sons.

Unfortunately, the Mistry family cannot freely monetise the stake in Tata Sons owing to a fractious fallout with Ratan Tata, on the back of Cyrus' unceremonious exit as the chairman of Tata Sons in 2016, and a subsequent adverse Supreme Court (SC) ruling. Since Tata Sons is an unlisted private limited company, the challenge for the Mistrys is that they cannot sell the stake without the approval of Tata Sons and, second, Tatas have valued their holding at ₹70,000-80,000 crore ($10 billion), significantly lower than ₹1.75 lakh crore ($21.8 billion) sought by the Mistrys, back in 2020. The problem is compounded by the Tatas rejecting the Mistrys' proposal to swap the holding for equivalent shares in listed Tata entities, even as the SC verdict is ambivalent on the valuation aspect.

Ironically, the Mistrys' situation is best encapsulated by a dialogue in Mughal-e-Azam, wherein Akbar tells Anarkali: “Salim tujhe marne nahin dega, aur hum Anarkali, tujhe jeene nahin denge (Salim won't let you die, nor will we, Anarkali, let you live).” To put it into context, while the legacy of the Mistrys will stay alive in Tata Sons, Ratan Tata will not let the family make the most of it. Interestingly, in the good old days of bonhomie, within days of assuming office in 1991, Ratan Tata had penned a handwritten note to Pallonji stating: "Our standing together will be a matter of strength… Let me reiterate that I will never do anything to hurt you or your family."

 https://www.fortuneindia.com/long-reads/mistrys-wealth-tryst-with-tatas/109612 #CyrusMistry #ShapoorMistry #wealth #networth #Tata #TataSons #TataGroup #FortuneIndiaRichList


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