The inclusion of a "no-contest" clause in Ratan Tata's will has caught the attention of India Inc, prompting a wave of interest among promoters of listed companies and business families. Legal advisors and estate planners are seeing a noticeable uptick in queries, as wealthy individuals look for ways to shield their legacies from courtroom battles.
Auto parts exports from India may see a slight slowdown as US President Donald Trump's 25 per cent tariff could increase car prices for buyers by 8-25 per cent, thereby affecting demand, experts believe.
Veteran industrialist and Tata Sons Chairman Emeritus Ratan Tata continues to be in Mumbai's Breach Candy Hospital for age-related ailments, said people aware of the situation. Comments from the Tata group could not be immediately obtained on his health condition.
The government on Monday signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. Following that, on October 11 a Letter of Intenet (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline.
Singh, who opened up the economy as finance minister and served as prime minister for two consecutive terms, died on Thursday at the age of 92. "History will forever honour his pivotal role in the transformative 1991 reforms that reshaped India and opened its doors to the world.
Ratan Tata was one of the world's most influential industrialists yet he never appeared on any list of billionaires. He controlled over 30 companies that operated in over 100 countries across six continents yet lived an unpretentious life. Ratan Naval Tata, who died at a Mumbai hospital on Wednesday night at the age of 86 years, enjoyed a perhaps unique status -- a corporate titan who was considered a 'secular living saint' with a reputation for decency and integrity.
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Swamy had written to the Election Commission, the DGCA and the Civil Aviation Ministry not to grant a license to the carrier.
JSW Steel, owned by Sajjan Jindal, has emerged as the world's most valuable steelmaker, boasting a market capitalisation (mcap) of nearly $30.31 billion, according to Bloomberg data.
Ratan Tata: A Life, the much awaited biography, reveals that after a year of 'parallel running', Tata began having second thoughts about Cyrus Mistry's 'suitability'. 'Mistry targeted Ratan, the man who had elevated him from virtual oblivion into the mainstream of the Tatas...'
Noel Tata -- the half-brother of late Rata Tata -- who takes over as chairman of Tata Trusts, has been with the Tata Group for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts -- that hold a controlling 66 per cent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
Will it be Noel Tata, Ratan Tata's half brother?
Rajan's last day at Tata Sons, where he has worked since the 1990s, will be March 31.
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
Late Ratan Tata always ensured employees are taken care of along with the well-being of their families across the Tata Group companies, which shaped a number of leaders across the conglomerate, and there really was no one like him, Tata Sons chairman N Chandrasekaran said on Monday. Recollecting his association with Tata (86) who passed away last week, in a post on networking platform LinkedIn, he wrote, "Anybody who met Mr Tata came away with a story about his humanity, warmth, and dreams for India. "There really was no one like him."
These trusts hold 66 per cent stake in unlisted Tata Sons, the holding company of the $100-billion Tata group of companies.
NCLT in its judgement said: "The removal of Cyrus Mistry as executive chairperson was because the board lost confidence and not because they were contemplating that he would cause discomfort to Ratan Tata, N Soonawala and others.' "The Board is competent to remove an executive chairman. Mr Mistry's removal from the position of director came because he admittedly sent out company information to the I-T (department), press, and came out in public against the board and the trust."
The Tata trusts can nominate one-third of the directors of Tata Sons
Tata Sons has moved the Supreme Court against an estimated Rs 300-crore (Rs 3-billion) sales tax demand from the Maharashtra state government.
The transaction - the second one in less than a year - is seen as an effort to restore investor faith in the company following a dismal performance by its UK subsidiary, Jaguar Land Rover Automotive.
It is a reinforcement of the principles and forthrightness that prevails in our judicial system, which should make all of us proud of our country and its democracy.
Tata Sons said dividend from 40-odd Tata Group firms had declined during Mistry's tenure while expenses had risen
Siva group defaulted on payment in 2016 and is also facing CBI investigation
Tata Sons has made Tata Investments its subsidiary by acquiring around 55 per cent stake in the company.
Chief ministers of West Bengal, Jharkhand and Odisha on Wednesday evening condoled the demise of Tata Group's chairman emeritus and veteran industrialist Ratan Tata, and said his legacy will live on forever.
Sharing details about the decision, tourism minister Jaivir Singh said the tourism department would provide the company land for the international-level museum on a 90-year lease for a token amount of Re 1.
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The RBI has accepted the application withdrawal request, according to the statement.
After years of losing money on two of the group's biggest bets - global steel business and domestic passenger cars - there are strong signs of a revival in both businesses.
The Board has decided to confer on Ratan Tata the honorary title of Chairman Emeritus.
Gurgaon-based mmt admin (commonly known as MakeMyTrip) has been using the domain name 'oktatabyebye.com'. Tata Sons has contended that it is confusingly similar to its 'Tata' brand and the travel portal runner has no rights or legitimate interests to use it. In May, Tata Sons had moved the Geneva-based WIPO Arbitration and Mediation Center demanding transfer of disputed domain name.
"Heartbroken by the loss of Shri @RNTata2000 Ji, whose visionary leadership not only transformed India's industry but also played a pivotal role in shaping our aviation sector," Naidu said in a post on X.
Looking to put money in aviation, infrastructure and also to reduce debt of group companies.
Tata Sons will likely choose Singapore as a "key partner" for its semiconductor plans, a senior minister from the city-state said on Friday. Speaking to reporters after a meeting with Tata Sons chairman N Chandrasekaran earlier in the day, Singapore's minister for home affairs and law K Shanmugam said semiconductors was a "big discussion" point during the meeting. "If they (Tatas) want to, they can do business with anybody in the world.
Earnings primarily from dividends received from group firms and sale of shares.
'...and I was a great admirer of his leadership of Tata Sons.'
A financial turnaround in Tata Steel and Tata Motors has come as a shot in the arm for Chandra.
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