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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.
In a major victory for Tatas, an arbitral tribunal has awarded Tata Motors a compensation of over Rs 766 crore for the losses incurred because of protests by Trinamool Congress that stalled its small car project at Singur in West Bengal. The tribunal asked the West Bengal government to pay Tata Motors the compensation, along with interest, according to a stock exchange filing by the Mumbai-based auto major on Monday. The company stated that the arbitral tribunal has asked the West Bengal Industrial Development Corp (WBIDC) to pay the company Rs 766 crore compensation, in connection with losses incurred on its manufacturing site in Singur.
Tata Consultancy Services (TCS) has cancelled a press conference scheduled on Thursday evening to announce its second quarter performance, company officials said. The press conference was originally scheduled at 1730 hours on Thursday.
The Tata Trusts disbursed more grants in the last 10 years than they did in the previous 100 years.
How the business world celebrated Christmas!
TVS Motor Company will reveal an all-new range of motorcycles at EICMA in Milan later this year, led by the new superbike.
Tata Group is the country's most valuable group and has an estimated 4.1 million shareholders across its various listed companies
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."
Tata Sons chairman N Chandrasekaran on Thursday skipped the Annual General Meeting of Tata Consultancy Services (TCS), marking his absence from the group's shareholder gathering for the second consecutive day. This is the first time in over 17 years that Chandrasekaran, who was elevated as the chairman of the diversified conglomerate after working as TCS's chief executive, has missed the AGM of the largest IT services company.
Anjaneyulu is one of the three IPS officers who are under suspension for allegedly "hastily arresting" and "harassing" Jethwani without proper investigation in a case filed against her during the erstwhile YSRCP regime. Vishal Gunni and Kanthi Ratan Tata are the other two IPS officers.
"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.
'He was a practical person who ensured that he thought about the common man, animals, the fact that they have a life and they have to be respected.'
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.
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.
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.
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.
An exclusive excerpt from The Tatas: How A Family Built A Business And A Nation.
When 'humiliated' Tata did 'favour' to Ford with JLR buyout!
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.
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."
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.
Mistry is expected to take over the mantle of the salt to software giant in Deecmber, 2012 after Ratan Tata retires.
Of the six chairmen that Tata group has had in its 148 years, the longest serving was Jehangir Ratanji Dadabhoy
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.
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.
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.
'We are expecting investment, public and private, of around Rs 40 trillion by 2029.'
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.
The Tatas are planning to introduce its small car Nano in Latin America in partnership with Italian auto maker Fiat.
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'.
