The Parsi community runs India's respected corporate houses like the Tata, Wadia and Godrej groups.
With a net worth of $12.6 billion, Mistry is well known for constructing some of Mumbai's landmarks such as the Reserve Bank of India headquarters, The Taj Mahal Palace and Towers, and the Oberoi Hotels
Famous and long believed to be trusted Indian brands have wilted against foreign brands, says Mohan Guruswamy.
On Mody's death, Tata on Friday said, "Russi Mody was an institution at Tata Steel. Under his leadership, the company grew significantly and he instituted many human resource initiatives.
What would happen to the ownership after Ratan Tata? The succession plan for the 263,862 Tata Sons promoter shares owned by seven Tata Trusts and other holdings of Tata brothers? Would a younger family member inherit?
Noel, Ratan Tata's half-brother and Mistry's brother-in-law, was a contender for the top position when Mistry was chosen as chairman in 2011.
'I'm a little fuzzy on the details, but I know that everyone is behaving as if they've just discovered that their favourite grandfather is a peeping tom,' says Mitali Saran.
Dividend pay-out by the group companies grew at a compounded annual rate of 15.7% under Cyrus, sharply up from 2.5% in the previous three years
The 50-share NSE Nifty settled lower by 76.05 points, or 0.88 per cent, at 8,615.25
About time the Tata companies that are owned by the public are freed from the clutches of Tata Sons, says Sudhir Bisht.
On the other hand, the group's two traditional cash cows, TCS and Tata Motors' subsidiary Jaguar Land Rover, are slowing as other businesses pick up pace
The Ambani brothers, Mukesh and Anil, came together on Thursday to raise the issue of stalled projects plaguing India Inc and implored the Maharashtra government and the Centre to make Mumbai, India's financial capital, an easier place for business and investments. "Several projects are stuck for many years in Mumbai and we would like to know how the government intends to improve the financing and execution of projects, including those relating to infrastructure and education which have been in limbo for long and are affecting the growth of the city," Reliance Industries Ltd (RIL) Chairman Mukesh Ambani told Finance Minister Arun Jaitley. Seated on the same table was his brother, apart from Tata Group Chairman Cyrus Mistry and State Bank of India (SBI) Chairman Arundhati Bhattacharya. Jaitley was addressing the Mumbai Next MMR Transformation conclave, organised by the Maharashtra government and Mumbai First here, through video conference. In his reply, Jaitley said the government was exploring several options of infrastructure financing in India and that a number of international bodies were ready to fund infrastructure development projects. He added the government was keenly considering these funding sources. While praising Maharashtra Chief Minister Devendra Fadnavis for honesty, Jaitley also had a word of advice. Apart from being honest, the government had to be decisive, he said. On his part, Reliance Group Chairman Anil Ambani told the chief minister about his experience of decisions being delayed due to an indecisive bureaucracy and the need to protect officials who wanted to take quick decisions. "Through the past many years, we have faced a number of obstacles in decision-making," he said, adding he was speaking as someone who had lived and invested in Mumbai. Fadnavis responded by saying he would bring about a transparent process to ring-fence officials. Both the Ambani brothers have announced a number of infrastructure projects in and around Mumbai, including a world-class convention centre in Bandra Kurla Complex by RIL, but very few have actually fructified. RIL's special economic zone project failed to take off due to land acquisition problems in Raigarh, while a second SEZ near Mumbai is stuck due to lack of clarity in SEZ norms. The first phase of the Mumbai Metro, set up by Anil Ambani's Reliance Infrastructure, was marred by cost overruns and run-ins with the government over fares. Subsequently, the company withdrew from the second and larger phase, citing inordinate delay. Anil Ambani also withdrew from Mumbai's sea link project on the same grounds. The brothers had also bid for a trans-harbour sea link between Navi Mumbai and Mumbai under the Congress-Nationalist Congress Party government, but their bid was rejected. Reliance Infrastructure is also the power supplier to more than half of this city. Participating in the conclave, some of India Inc's leading bankers said making Mumbai a financial hub would take at least a decade. SBI's Bhattacharya said the Indian currency should be made fully convertible and facilities should be created for it. "However, for this, the economy needs to look up and that will happen only in the next 7-10 years, not immediately," she added. Sunil Kaushal, Chief Executive Officer of Standard Chartered, India, pitched for strong infrastructure to support development. "We will take a long time to develop into a global financial centre. We need to solve transport bottlenecks in Mumbai and have lifestyle facilities for people working in and around these areas," he said.
Tatas may look at selling part of its stake in couple of investments
Issues related with intellectual property rights, including piracy of films and software, figured prominently during the India-US CEO Forum in New Delhi attended by Prime Minister Narendra Modi and US President Barack Obama.
Vistara starts flying in India.
The list has been compiled by the Shanghai-based The Hurun Research Institute, the second year it has done this ranking, of an 'India philanthropy list'.
Vistara'a launch, the steel plant at Kalinganagar and e-commerce venture are the ones most awaited for
Infosys needs to be more innovative and disruptive with its product and services, keeping its focus on growth.
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
Corporates understand that the PMO drives all key decisions in this government.
Two Nobel Laureates, four listed writers of this year's Man Booker Prize, Pulitzer Prize winners and finalists, winners of Commonwealth Writers' Prize, Crossword Prize and film stars will be the attraction at the most sought after literary event in India -- the Jaipur Literature Festival.
Tatas plan to revive, not sell the Port Talbot steel plant. The investment could be as much as $500 million.
"Nano is like an open canvas for us. We have the option of positioning it on the lines of the (Volkswagen) Beetle or the (BMW) Mini."
Tata Group shares were among the top losers while Adani Ports emerged as the top gainer
The 57-year-old Charudatta, a Tata Steel official, was constantly humiliated and harassed between May 2012 and May 2013 following which he took the drastic decision to end his life.
Provisioning for bad investments, finance costs shoot up in FY14.
Singapore Airlines first approached the Tatas, its old choice for a venture in India, and was aware of AirAsia negotiations.
Only 10,059 tourists have visited the state this month compared to around 90,000 in July
Both groups warn of initiating strict actions, issue public notices.
It has turned around its domestic operations under the HorizoNext strategy
We have to move from E-governance to M-governance. M-governance does not mean Modi governance. It means Mobile governance, the PM said.
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The RBI has accepted the application withdrawal request, according to the statement.
PM promised a tax regime that is predictable and competitive
The 36 new properties, which will also include expansion across two new countries, will add 5,431 rooms.
R Venkataramanan, the managing trustee of the Sir Dorabji Tata Trust who is responsible for all Tata-run trusts, prefers to keep a low profile but has emerged as a power centre in the group - with more clout than many established CEOs, says Dev Chatterjee.
Unlike Ratan Tata's philosophy, Mistry cared about short-term gains. This is a Diwali gift for many
Playwright and novelist Cyrus Mistry's English novel Chronicle of a Corpse Bearer and K R Meera's Aarachar in Malayalam are among the works that have won the prestigious Sahitya Akademi award for this year.
In the last couple of months, the Prime Minister has visited Japan and the US and launched the Make in India campaign to lure foreign investments into manufacturing sector.
Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
Top ten billionaires in India.
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