Tata Trusts has unanimously reappointed Venu Srinivasan as a trustee for life, and all eyes are now on the upcoming decision regarding Mehli Mistry's renewal, amid reported internal divisions within the organisation. The reappointment of Srinivasan this week, ahead of his term expiring on October 23, comes amid reports of a vertical split within Tata Trusts - with one faction said to align with Noel Tata, who took over as chairman following Ratan Tata's death, and the other comprising those seen as loyalists of the former doyen.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Expressing condolences on the demise of the doyen of Indian industry and Chairman Emeritus of Tata Group, Finance Minister Nirmala Sitharaman on Thursday said he has left an indelible mark on society. "Saddened by the passing away of Shri Ratan Tata, a leader par excellence, visionary industrialist, and philanthropist whose contributions have left an indelible mark on our society," Sitharaman said in a post on X.
On another occasion, he recalled, as part of the SPG, he was tasked with the security of the then prime minister Manmohan Singh and assigned the responsibility of escorting Tata from Taj Mansingh Hotel in New Delhi.
The inclusion of a "no-contest" clause in Ratan Tata's will has caught the attention of India Inc, prompting a wave of interest among promoters of listed companies and business families. Legal advisors and estate planners are seeing a noticeable uptick in queries, as wealthy individuals look for ways to shield their legacies from courtroom battles.
Indian industry's doyen Jamsetji Tata has emerged as the biggest philanthropist globally in the last century by donating $102 billion, as per a list of top-50 givers prepared by Hurun Report and EdelGive Foundation.' Tata, the founder of what has now become a group spanning interests from salt to software, is ahead of others like Bill Gates and his now estranged wife Melinda who have donated $74.6 billion, Warren Buffet ($37.4 billion), George Soros ($34.8 billion) and John D Rockefeller ($26.8 billion), the list showed.
The joint venture will look at long-term, patient investments on solutions that don't lend to an IPO or exit on valuation basis.
Media persons mobbed Ratan Tata for comments on the controversy over the small-car project in West Bengal and also on the race to acquire Anglo-Dutch steel giant Corus.
Members of the Parsi community, business leaders and politicians were among those who attended the cremation.
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
The Tata empire turns 150 this year. R Gopalakrishnan, former director, Tata Sons Ltd, imagines a conversation among the group's founder Jamsetji, his son Dorabji, his successor, Nowroji Saklatwala, and his successor, J R D Tata.
Mistry is not the first Tata bigwig to be ousted and Tata is not the only big name which saw a doyen or two leave
While New Jersey, US-based OrbitBeyond leads a consortium of subcontractors who have designed and developed hardware for deep space missions, Bengaluru-based Team Indus is leading OrbitBeyond's lander engineering, reports T E Narasimhan.
While Team Indus had backing from Nandan Nilekani, Ratan Tata and Flipkart founders Sachin and Binny Bansal, it could not even muster half of the Rs 4.5 billion it required for the mission to the moon.
In the '80s after Xerxes Desai, moved to Bengaluru and spent the initial days on building Titan from a factory in Hosur.
The FIR also said chairman of New Development Bank K V Kamath, Goldman Sachs India chairman Sonjoy Chatterjee, Standard Chartered Bank CEO Zarin Daruwala, Tata Capital head Rajiv Sabharwal and Tata Capital senior advisor Homi Khusrokhan need to be investigated.
Justifying the transfer, the CBI pinned the blame on Mishra for keeping the preliminary enquiry pending without any reasons, they said.
