He is followed by Nandan Nilekani and Narayan Murthy in Hurun India Philanthropy List
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 Group overall commands market capitalisation of over $125 billion
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.
"We are waiting for any input from any quarter," Civil Aviation Secretary R N Choubey said, adding, "We have not received anything so far".
In a major victory for the Tata Group, the Supreme Court on Friday set aside the NCLAT order restoring Cyrus Mistry as the executive chairman of the conglomerate.
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
Traders' body CAIT on Wednesday wrote to Reliance Industries chief Mukesh Ambani and 50 other captains of India Inc, including Ratan Tata, Azim Premji, Gautam Adani, Ajay Piramal, Anand Mahindra and Sunil Bharti Mittal seeking their support in its campaign to boycott Chinese goods. The Confederation of All India Traders (CAIT) also urged Kumar Mangalam Birla, Vikram Kirloskar, Rahul Bajaj, Shiv Nadar, Pallonji Mistry, Uday Kotak, Nusli Wadia, Shashi Ruia, Madhukar Parekh, Harsh Mariwala, Satish Reddy and Pankaj Patel, among other prominent industrialists, to join its 'Bhartiya Samaan-Humaara Abhimaan' campaign.
Industrialist Mukesh Ambani remains India's richest person with a sharp surge of 30 per cent in his net worth to $26 billion.
Forbes said Prime Minister Narendra Modi's "economic experiments" barely affected India's billionaires while none gained more than oil-and-gas tycoon Mukesh Ambani, who cemented his decade-long hold on the top slot by adding a staggering USD 15.3 billion (67 per cent) to his last year's wealth to become one of Asia's top five richest.
Shareholders of Tata Sons, the holding company and promoter of Tata group companies, have approved the reappointment of N Chandrasekaran as chairman for another five-year term despite its single largest shareholder the Shapoorji Pallonji family abstaining from voting, according to sources. In February this year, the Board of Tata Sons had approved the reappointment of Chandrasekaran as executive chairman for another five years till February 2027, subject to shareholders' approval. At the shareholders meeting held on Monday, the proposal for Chandrasekaran's reappointment for a second term needed more than 50 per cent of votes as it was an ordinary resolution.
Others in the top 10 include Uday Kotak at the 6th place with a wealth of Rs 94,100 crore, Cyrus S Poonawalla at 7th position with Rs 88,800 crore assets, Cyrus Pallonji Mistry at 8th spot with a wealth of Rs 76,800 crore, Shapoor Pallonji at 9th position with a net worth of Rs 76,800 crore and Dilip Shanghvi at 10th slot with Rs 71,500-crore wealth.
Top leaders from India Inc may be busy throughout the year, but they too have a very strong social life beyond work.
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
'Cyrus was also generous, hospitable, sharing of whatever he had.' 'He never ever acted like the inheritor of great wealth.'
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'.
The total wealth of India's top five billionaires, which stands at a whopping $83.7 billion, is more than the cost of 1,230 Mars Orbiter 'Mangalyaan' Missions and is more than 18 times the cost of hosting the 2016 Rio Olympics
Top 100 billionaires see their wealth rise 10%; top 20 account for half of total wealth of top 100.
Tata Group shares were among the top losers while Adani Ports emerged as the top gainer
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
'And he was really trying just to do the best by the shareholders, and by the laws of India.'
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
John Elliott, the author of Implosion: India's Tryst with Reality, on his Riding the Elephant blog, says the sacking of Cyrus Mistry as chairman of Tata and Sons was in line with Ratan Tata's personal style of dealing with executives
Tata Steel and Tata Chemicals under investor watch
While study was done before the current boardroom battle began, the findings indicate Tata is no longer viewed as aspirational brand by working professionals.
President Pranab Mukherjee presented five Padma Vibhushan, eight Padma Bhushan and forty-three Padma Shri awards at the Rashtrapati Bhavan in New Delhi.
The list of the prestigious Padma Awards 2016 awardees is out and superstar Rajnikanth is set to be honoured with the nation's second highest civilian award, the Padma Vibhushan.
There is no word yet on the progress of rescue operations for the accommodation barge SS-3 and the Sagar Bhushan oil rig.
Famous and long believed to be trusted Indian brands have wilted against foreign brands, says Mohan Guruswamy.
'We want to be a nation at par with the best internationally.' 'But why is it in theatre we continue to have such low standards?'
