An exclusive excerpt from The Tatas: How A Family Built A Business And A Nation.
At its current price - $1,819 per troy ounce - the gold alone adds $4.68 million.
This is also the last time that I write to you prior to my retirement as the chairman of the TATA Group and I want to convey to you how privileged I have been to have the opportunity of leading this great Group over the last two decades through good times and bad, Tata said.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
How the business world celebrated Christmas!
Ratan Tata, the octogenarian chairman of Tata Trusts that have controlling stake in Tata Sons, separately said he was extremely disappointed over reports speculating a major revamp in the leadership structure at the group. "I would like to state that no leadership structural changes are on the anvil," Chandrasekaran said in a brief statement. The statement came in relation to a Bloomberg report that said Tata Sons was considering a "historic revamp of its leadership structure by creating a chief executive officer's role to help improve corporate governance."
It was the summer of 2006 (May 18). Writers' Building, then the state secretariat, was buzzing with journalists. The event marked the start of Buddhadeb Bhattacharjee's second term as chief minister. And in style, it got off with West Bengal bagging the small car plant, Nano.
The Tata Trusts disbursed more grants in the last 10 years than they did in the previous 100 years.
Tata Sons shareholders have approved a resolution to have separate chairpersons for the company and its largest shareholder -- Tata Trusts. An amendment to the articles of association (AoA) of Tata Sons, which sought to prevent a single person heading Tata Sons as well as Tata Trusts simultaneously, was passed at the company's annual general meeting (AGM) held on Tuesday. With the special resolution being passed with requisite majority of 75 per cent at the AGM, it will now be legally binding for Tata Sons and Tata Trusts to have separate chairpersons.
Tata Group is the country's most valuable group and has an estimated 4.1 million shareholders across its various listed companies
"The report is out of context and factually incorrect. Tata's comments on wealth are in the larger context of the growing disparity in the society. The comments seem to have been deliberately sensationalised," a statement from Tata Sons said.
Ratan Tata is passionate about British manufacturing. There will be no change. It will be the same culture, the charitable culture.
The donation by Tata Sons and Trusts is the biggest sum committed by a corporate and its philanthropic arm since the outbreak of Covid-19. Others, including Reliance Foundation, Mahindra Group, Bajaj Group, and ITC, are lending support too in the battle against the pandemic.
3 plants worth $2 billion to be set up by the Tata Group in Bangladesh would take off within the next 4 years and this could help break the 'false barriers' between the two countries, Ratan Tata said.
Today, talent from across the world finds voice at the Tata Group in a way that was not the case before Mr Tata took over.
Like many other Indian companies, the Tata group too has globalised in the past decade. It is a testimony to the success of Indian enterprise in the global marketplace that many of them have done well, in the face of severe competition.
These trusts hold 66 per cent stake in unlisted Tata Sons, the holding company of the $100-billion Tata group of companies.
Days ahead of Ratan Tata's retirement, an Associated Chambers of Commerce and Industry of India (Assocham) survey said the $100-billion Tata Group was perceived to be India's best-known global brand within and outside the country.
When 'humiliated' Tata did 'favour' to Ford with JLR buyout!
'Not many know that Ratan Tata became chairman of Tata Sons because of Cyrus's father Pallonji Mistry. But he (Cyrus) never used it or leveraged it to his benefit.'
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."
I really did what my great grandfather said we should - mainly to give back to the community whatever we had in terms of prosperity, says Ratan Tata in New York.
Former Chairman and Managing Director of Tata Steel, Russi Mody, 96, passed away in Kolkata on Friday.
Amid suggestions aplenty, including from a former Tata Group veteran to choose someone from within the Tata family to head the conglomerate, incumbent chairman Ratan Tata on Friday said only the best would succeed him.
Tata, 78, who retired as Tata Group Chairman nearly four years back, justified his return for "maintaining stability and continuity of leadership" and promised to give the group "a world-class leader" when a fulltime boss is appointed.
Congratulate Tata and the entire Tata Motors team for their incredible achievement.
Ratan Tata will step down in December next year after he turns 75.
Of the six chairmen that Tata group has had in its 148 years, the longest serving was Jehangir Ratanji Dadabhoy
Mistry is expected to take over the mantle of the salt to software giant in Deecmber, 2012 after Ratan Tata retires.
While the entry of 62-year-old Noel Tata, half brother of Ratan Tata, into Tata Trusts is being seen as a significant departure from the past within the salt-to-software conglomerate, Jehangir, a long-standing philanthropist is expected to add heft to Tata Trusts.
This move is seen as a way to create an enabling structure for the new chairman, where he or she will have the support of an experienced team to share some of the responsibilities in running the conglomerate through Tata Sons.
Industrialists Anand Mahindra and Ratan Tata will co-host a power lunch for CEOs with the visiting US Treasury Secretary Timothy Geithner on April 7.
Indian conglomerate Tata Group Chairman Ratan Tata has said that Tata Motors will have an electric car in the market by September this year.
Earlier, finance minister Pranab Mukherjee had said the fiscal stimulus given to the industry to combat the adverse impact of the global financial meltdown would not be withdrawn before the budget next year.
Coinciding with the beginning of a search for chairman Ratan Tata's successor, the Tata Group has become the country's wealthiest, with a market value of about Rs 371,000 crore (Rs 3,710 billion) -- higher than that of the business houses led by the two Ambani siblings.
Tata had led the salt-to-software conglomerate for 21 years after being chosen successor by his uncle, the iconic JRD Tata, in 1991.
Amid the tape controversy, Agriculture Minister Sharad Pawar on Tuesday said the government should take note of Ratan Tata's statement that India risked turning into a 'banana republic'.
The Tatas are planning to introduce its small car Nano in Latin America in partnership with Italian auto maker Fiat.
Indian business titan Ratan Tata, already named among the world's most influential business people from India, has now made to a list of 30 most powerful in the British construction space with a ranking higher than even the UK's Minister for Housing.
The search panel might have to lower the benchmark to find a successor to the head of $71 billion business empire.
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