India's Shapoorji Pallonji group to separate interests from Tata group

India's Shapoorji Pallonji (SP) group, the largest minority shareholder in Tata Group, believes it is necessary to separate interests from the autos to steel conglomerate, it said on Tuesday.

NEW DELHI, Sept 22 (Reuters) - India's Shapoorji Pallonji (SP) group, the largest minority shareholder in Tata Group, believes it is necessary to separate interests from the autos to steel conglomerate, it said on Tuesday.

Tata Sons this month moved an application before the Supreme Court to restrain Shapoorji Pallonji (SP) from raising capital against the security of its Tata stake.

"It is with a heavy heart that the Mistry (SP) family believes that a separation of interests would best serve all stakeholders," the construction group said in a statement without elaborating.

(Reporting by Devjyot Ghoshal Writing by Rupam Jain Editing by David Goodman)

((Rupam.Jain@thomsonreuters.com; +91 7042133028;))

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