Cyrus Mistry undertook quite a few significant initiatives at the Tata Group in the past two years.
A quiet but consequential power struggle has erupted within the storied 156-year-old Tata Trusts just a year after the death of group patriarch Ratan Tata on October 9, 2024.
If Tata Sons is listed, the special veto rights of Tata Trusts, under Article 121A, may have to go away.
The Tata Sons board has deferred a decision on the re-appointment of Natarajan Chandrasekaran as Chairman, signaling potential differences within the group. Concerns were raised about losses in certain group companies and the listing of Tata Sons.
The government is closely watching the fast-paced developments at the salt-to-semiconductor conglomerate.
Darius Pandole, who survived the car accident in which industrialist Cyrus Mistry died, has told the police that his wife Dr Anahita was driving the Mercedes-Benz car in the third lane and could not merge into the second lane that turned narrow near the Surya river bridge in Maharashtra's Palghar, an official said.
Dr Anahita Pandole and her husband Darius, who injured in the car accident that killed former Tata Sons chairman Cyrus Mistry, were on Monday shifted by road to Mumbai from a hospital in neighbouring Vapi town of Gujarat, an official said.
Mistry is expected to take over the mantle of the salt to software giant in Deecmber, 2012 after Ratan Tata retires.
The last rites of Cyrus Mistry, former chairman of Tata Sons who was killed in a car crash, will be performed in Mumbai on Tuesday, his family said.
'He wanted to learn all the time.'
'Cyrus was also generous, hospitable, sharing of whatever he had.' 'He never ever acted like the inheritor of great wealth.'
SP Group chairman Shapoorji Pallonji Mistry on Friday reiterated calls for public listing of Tata Sons to bring transparency, amid infighting among trustees of Tata Trusts which controls a 66 per cent stake in the holding company of the salt-to-software conglomerate. Shapoorji Pallonji family is the single largest minority shareholder with about 18.37 per cent in Tata Sons.
Small- and mid-size companies where Cyrus was the chairman did better on bourses than large Tata group companies
The Supreme Court has said that Cyrus Mistry's removal as executive chairman of Tata group was justified as a "a person who tries to set his own house on fire for not getting what he perceives as legitimately due to him, does not deserve to continue as part of any decision-making body".
Mistry would be succeeding as the chairman of Tata Group.
Tata Group expects to do some tightrope walking on legal issues in the days ahead.
At 4.16 mn shares, chairman-in-waiting holds 0.21% in group's cash cow
'Wherever the businesses are not up to the size of the Tata group, Cyrus Mistry initiated actions to move out of those businesses.'
The NCLAT, in its December 18, 2019 order, had restrained the company, its board of directors and shareholders from exercising the power under the article against minority members except in exceptional circumstances and in the interest of company. A bench headed by Chief Justice S A Bobde dealt with this issue in its 282-page verdict which set aside the NCLAT's order that had restored Cyrus Mistry as the executive chairman of the USD 100 billion salt-to-software conglomerate.
People who attended the celebrations said the sincerity and passion, besides absence of smart one-liners, reminded them of his predecessor.
'He was the most thoughtful corporate person I encountered.'
Mistry is presently also the chairman of loss-making Forbes & Company Ltd listed on the Bombay Stock Exchange.
Cyrus Mistry said more focus was needed for improvement in key areas such as vehicle technology.
The government is keeping a "close watch" on the developments relating to the Tata-Mistry case, but does not want to "interfere" at present as it was an "internal matter" of a private group, Ministry of State for Corporate Affairs Arjun Ram Meghwal has said.
Shareholders want to know what plans does company have to address the issue
Profit in FY13 up 18% to Rs 3,713 crore, dividend income jumps 37%
Clarity on Tata Sons' position on listing, as of 2025, would help define the future of the group better, irrespective of the RBI stand. As of now, the ball is in the RBI's court, and everyone is watching the space, points out Nivedita Mookerji.
The Tatas don't want any court to pass any ex-parte orders without hearing their side of the story
Tata Power is looking forward to drawing big advantage from Cyrus Mistry taking over as the $100-billion conglomerate's new chief, as he began Tata journey with this company and can relate to the business very well.
Shapoorji Pallonji Group's head Pallonji Mistry died at his residence here, company officials said on Tuesday. Mistry, the largest individual shareholder in the Tata Group with a 18.4 per cent holding in the conglomerate, was 93.
Sources in the Tata group said they could not attend as they were travelling.
Tata Group is the country's most valuable group and has an estimated 4.1 million shareholders across its various listed companies
The Starbucks partnership will take couple of years to break-even.
Industry minister hints at inviting Mistry to the upcoming annual industrial meet.
Tata Group overall commands market capitalisation of over $125 billion
While understanding the challenges of the group, the Tata Sons chairman has taken quite a few tough decisions in his first year in office.
'And he was really trying just to do the best by the shareholders, and by the laws of India.'
Mistry is halfway through in building Tata group's Gen Next.
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."
Refuting Tat's charges about Welspun buy, Mistry said to even suggest that the Tata Sons board including the nominee directors of the Tata Trusts had not been adequately informed is contrary to the factual record
