Half a dozen names are doing the rounds as replacement for Cyrus Mistry as the chairman of the Tata Group.
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.
The Tata Group is looking beyond Indian shores to expand the companies under its fold, even as it has received a 20-year gas supply contract from the government of Bangladesh.
If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
Noel Tata likes to relax at his Alibaug beach home on weekends, but he is equally passionate about driving on the Mumbai-Pune Expressway at a speed of over 100 kilometres per hour.
Tata Group expects to do some tightrope walking on legal issues in the days ahead.
Tata Steel and Indian Hotels on Wednesday said they have always made all relevant disclosures and have no further comments to offer following comments made by ousted Tata Group chairman Cyrus Mistry that Tata group firms could face a potential USD 18 billion writedown.
The Supreme Court on Friday set aside NCLAT order of December 18, 2019 restoring Cyrus Mistry as executive chairman of Tata Group.
In 2006-07, TCS had employed 7,000 people in the eastern states.
At the heart of the problem is Fiat's failure to bring in more models to India -- a fact the Tata Group chairman didn't forget to mention.
The Tata Group is likely to sign a final agreement with Bangladesh's state-run Board of Investment for its proposed two billion dollar investment in the country soon, a media report said on Monday.
Citing partnership between Tatas-owned JLR and China's Cherry Automobile, he said the Chinese bring ingenuity and creativity to their job.
Tata Group Chairman Ratan Tata, Infosys Technologies CEO Nandan Nilekani, Wipro Chairman Azim Premji and Reliance Industries Chairman Mukesh Ambani are the four Indians in Asia's 25 most powerful business leaders list by the Fortune magazine.
Mistry indeed followed standards of corporate governance so that it should not create any controversies at a later date
Tata Group overall commands market capitalisation of over $125 billion
N Chandrasekaran was on Friday reappointed as chairman of Tata Sons for a second five-year term. Tata Sons in a statement said the reappointment was ratified by the board. "At its meeting on 11 February 2022, the Board of Tata Sons reviewed the last five years and considered the reappointment of its executive chairman N Chandrasekaran," it said in a statement.
Sources in the Tata group said they could not attend as they were travelling.
From disbursing Rs 25.11 crore to political parties in 2014-2015, the Tata group is learnt to have contributed Rs about Rs 600 crore towards the 2019 Lok Sabha election.
Fourteen per cent of the $16 billion invested by Ratan Tata in M&As abroad has been written off by his successor.
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.
The search panel might have to lower the benchmark to find a successor to the head of $71 billion business empire.
Kishore A Chaukar has been appointed as non-executive director and chairman on the board of TTML, with effect from March 24, the filing said.
A half-brother of Ratan Tata, Noel will step down as the MD of the group's retail venture, Trent Ltd
Singapore Airlines first approached the Tatas, its old choice for a venture in India, and was aware of AirAsia negotiations.
These start-ups include high-growth companies such as Ola, Paytm, Lenskart, UrbanClap and Urban Ladder. Nearly half of these have gone on to raise follow-on funding, a key measure of success for start-ups. A few have become unicorns, the term for start-ups valued at $1 billion or more.
The market is both taking a short-term view and a harsh view. We often damn a company when it makes a loss in a single year.
Here stood a man who embodied the legacy of whatever Brand Tata stood for, embellished it, and departed into the long night, leaving the brand legacy for others to further enrich, notes R Gopalakrishnan.
The Group has been pioneer in innovation; Ratan Tata has been credited for launching world's cheapest car Nano in 2009
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.
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.
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."
He added that Suzuki could not build a car for the same price as the Nano without sacrificing quality and standards.
At TCS, Chandrasekaran would be succeeded by Rajesh Gopinathan, currently the company's chief financial officer.
Amari is on an official five-day visit to India which began against the backdrop of talks on a free trade agreement in the Indian capital last week that ended with big differences.
The US-India Business Council (USIBC) in coordination with the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce & Industry (Ficci) is preparing a list of invitees for the business summit to be addressed by visiting US President Barack Obama.
Corporate magnate Ratan Tata on Friday said that Congress general secretary, Rahul Gandhi had opened a door for investments in Jammu and Kashmir.
State commerce and industry minister, Nirupam Sen, and secretary, Sabysachi Sen are in Mumbai and have held a series of meetings with industrialists in Mumbai, including Tata group chairman, Ratan Tata, Mukesh Ambani of Reliance and Ashok Hinduja of the Hinduja group.
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."
"The government has imposed a lot of regulations, and is not permitting major technological upgrade," Tata said.
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