As per the statement, Noel Tata suggested that various avenues could be used for the purpose of raising the funds required for this purpose, including from internal cashflows; sale of listed shares; bringing in an investor into some of the newer businesses and listing, upon an offer for sale, of some of the businesses. He requested the Board to take the necessary steps for initiating the NCLT process and authorise the operating team of Tata Sons and the Tata Trusts to continue discussions with the SP Group, and the bankers, and report to the Board. The release further stated that “this is in continuation and reaffirmation of the Tata Trusts’ desire to offer a fair and equitable solution to the SP Group in respect of their holdings in Tata Sons.”
