'Members of Indian family businesses have considered it their birthright to work there and responsibility to take care of it.'
Natarajan Chandrasekaran, credited with stabilising Tata Sons after a boardroom coup and overseeing significant expansion, has announced his resignation as chairman, capping a nearly decade-long tenure marked by both successes and escalating tensions with the group's controlling charitable trusts.
'Chandrasekaran wanted a five-year extension, but the Tata Group has a policy of 65 years as the retirement age for its executive chairman.'
While the latest trigger for him stepping down could be the uncertainty around his renewal as a director at the AGM, which is otherwise a routine matter, Chandra may have been contemplating quitting for some time now because of the overall turbulence with the principal shareholder on the leadership issue.
A stake sale by Tata Trusts will help it to have a larger corpus that could be used to balance the unequal dividends that flow from Tata Sons on an ongoing basis.
A crucial annual general meeting (AGM) of Tata Sons, the primary holding company of the Tata conglomerate, was adjourned due to a lack of quorum, specifically the absence of representatives from the Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust (SRTT). The SRTT is currently under restrictions from the Maharashtra Charities Commissioner, preventing it from making major decisions or holding meetings, which impacted its ability to participate.
The Chhattisgarh High Court has ruled that married daughters of deceased employees are entitled to compassionate appointments, stating that marital status should not be a disqualification. The court found the bank's rejection of claims based solely on marital status to be arbitrary and discriminatory, especially when married sons were granted similar benefits. This landmark decision emphasizes dependency over marital status as the criterion for such appointments.
East Bengal FC secured a comprehensive 5-0 victory over South United FC in their final Durand Cup Group A match, significantly boosting their chances of qualifying for the quarter-finals.
'... that work is done. The task is to reallocate what has been built, with the courage of a founder and the discipline of an owner.'
Simone Tata, the mother of Tata Trusts chairman Noel Tata, died in a Mumbai hospital on Friday after a brief illness. Simone, the stepmother of the late Ratan Tata, was 95.
Tata Sons has the balance sheet to support them, for now.
A board meeting of Tata Sons, the holding company of the Tata conglomerate, concluded in Mumbai, with discussions likely revolving around mounting losses in unlisted businesses and the future of Chairman N Chandrasekaran amid rising internal frictions.
The Annual General Meeting (AGM) of Tata Sons, scheduled for Tuesday, is likely to be adjourned because the Sir Ratan Tata Trust (SRTT), a major shareholder, cannot nominate a representative due to a regulatory restriction imposed by Maharashtra's Charity Commissioner.
Tata Trusts chairman Noel Tata and two other powerful trustees considered close to him blocked the reappointment of late Ratan Tata's close associate and businessman Mehli Mistry as trustee, deepening the rift at the philanthropic arm that controls the holding company of Tata Group, people familiar with the matter said.
Just in case the AGM, scheduled At the AGM, if it is held, a shareholders' vote on Chandra's renewal as a director on the Tata Sons board is unlikely but not ruled out.
The upcoming Tata Sons board meeting in June could possibly throw some light on several critical issues that may have a bearing on the future of the corporate behemoth.
Tata Trusts, which exerts decisive influence over India's most valuable conglomerate through its about 66 per cent stake of Tata Sons, finds itself in the midst of infighting among its trustees over board appointment and governance issues.
Retail major Trent is embarking on a robust expansion plan, aiming for significant growth through new store additions for Westside and Zudio, diversification into new formats like Samoh and Burnt Toast, and a projected recovery in like-for-like (LFL) growth.
A much-anticipated board meeting of the Sir Ratan Tata Trust, intended to reconsider nominations to the board of Tata Sons, was cancelled for unspecified reasons, despite the Bombay High Court declining to stay the meeting.
The top agenda of the meeting includes a review of Tata Trusts representation on the Tata Sons board.
Mehli Mistry is backed by three other trustees -- Pramit Jhaveri, Darius Khambata and Jehangir HC Jehangir -- against Tata Trusts Chairman Noel Tata and the two vice-chairmen, Venu Srinivasan and Vijay Singh.
Substitute Mikel Merino scored in the 88th minute after goalkeeper Senne Lammens spilled Pau Cubars's long-range effort, restoring Spain's lead and putting the 2010 champions 2-1 ahead of Belgium.
A crucial Tata Trusts board meeting was unexpectedly postponed, highlighting internal conflicts over veto power, Tata Sons listing, and trustee eligibility, raising concerns about the stability of the $180 billion conglomerate.
The much-awaited board meeting of Tata Sons did not discuss listing of the holding company or a third term for Chairman N Chandrasekaran.
While the leadership issues may get sorted in the upcoming board meetings of Tata Trusts and Tata Sons, listing of the holding company of the Group on stock exchange should potentially resolve the bigger question on ownership and control
A day after Guardiola's final game in charge after a trophy-laden decade, thousands lined the streets in searing 31 degrees Celsius heat and clouds of sky-blue confetti, climbing street lights and crowding every vantage point for a glimpse of the Spaniard who had defined an era.
Tata Trusts, which holds a significant stake in Tata Sons, is facing a mandate to immediately comply with Section 30A(2) of the Maharashtra Public Trusts Act, 1950, requiring two of the three life trustees at Sir Ratan Tata Trust to step down to meet the 25 per cent cap on perpetual trustees.
Tata Trusts, which holds a significant stake in Tata Sons, is facing a mandate to immediately comply with Section 30A(2) of the Maharashtra Public Trusts Act, 1950, requiring two of the three life trustees at Sir Ratan Tata Trust to step down to meet the 25 per cent cap on perpetual trustees.
The government is closely watching the fast-paced developments at the salt-to-semiconductor conglomerate.
The deferral of Natarajan Chandrasekaran's re-appointment as Chairman of Tata Sons has sparked questions regarding a previous unanimous resolution by Tata Trusts and potential internal disagreements.
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.
If Tata Sons is listed, the special veto rights of Tata Trusts, under Article 121A, may have to go away.
Tata Trusts announced that the trustees of the Bai Hirabai Trust will initiate proceedings to alter restrictive clauses in its trust deed, specifically those prohibiting non-Zoroastrians from serving as trustees. This decision follows a challenge by former trustee Mehli Mistry regarding the appointments of Venu Srinivasan and Vijay Singh, who allegedly did not meet the original Parsi Zoroastrian faith and residency criteria.
Veteran industrialist Venu Srinivasan has resigned from the Bai Hirabai Jamsetji Tata Navsari Charitable Institution, following a challenge to his appointment by a former trustee.
'The quality of a leader should be such that even if the leader is not there, the institution carries on.'
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.
SC Delhi defeated NorthEast United FC 3-0 in an Indian Super League match, with Joseph Sunny scoring twice. The win moves SC Delhi up the standings.
'The city was not only a setting but also a major character in Sankar's stories, providing the readers insight into the ever-changing and complex nature of Calcutta,' observes Atanu Biswas.
Indications are that the Tata Sons stand on listing of the company may come up for a discussion even if it's not part of the agenda
Tata Sons' unlisted ventures, including Air India, Tata Digital, and Tata Electronics, reported combined net losses of approximately 25,568.8 crore in FY25, a 58.3 per cent increase from the previous year, despite Tata Sons itself remaining profitable for over a decade.
