Tata Sons has started the process of due diligence of state-owned Air India and its subsidiary Air India Express. Sources said the group has appointed Bain and Company and Seabury Group for this purpose. Once complete, a financial bid will be submitted and a deal to take over the airline is likely to fructify by end of this year or even earlier, people involved in the process said. Simultaneously, the group has brought in veterans in the aviation business from Delta and United Airlines to prepare a plan for post-merger integration of Air India with its existing airline ventures. Tata Sons operates Vistara - a 51:49 percent joint venture with Singapore Airlines and Air Asia India, in which Tatas hold 83.67 per cent stakes.
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Since the early 1970s, the Tatas have presence in the city-state.
Siva group defaulted on payment in 2016 and is also facing CBI investigation
Moody's Ratings on Monday downgraded Tata Motors' outlook to negative from positive following a cyber attack on its British arm Jaguar Land Rover which has led to a complete production halt. The rating agency affirmed the Mumbai-based auto major's Ba1 corporate family rating (CFR).
Noel, Ratan Tata's half-brother and Mistry's brother-in-law, was a contender for the top position when Mistry was chosen as chairman in 2011.
Thousands of runners participated in Jammu's first international marathon, braving incessant rain. The event featured multiple race categories, celebrity participation, and a significant prize pool, aiming to boost tourism and promote a healthy lifestyle.
It is a reinforcement of the principles and forthrightness that prevails in our judicial system, which should make all of us proud of our country and its democracy.
A financial turnaround in Tata Steel and Tata Motors has come as a shot in the arm for Chandra.
The Tata Trusts, led by the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust, hold a 66 per cent stake in Tata Sons, the Tata group's holding company.
The government on Monday signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. Following that, on October 11 a Letter of Intenet (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline.
Tatas's total debt could cross Rs 100,000 crore by the end of this month, according to Kotak Securities, a domestic brokerage. The group's debt has more than doubled in the current financial year. Last year, it was around Rs 30,000 crore. It now stands at Rs 70,000 crore. This is a result of the group's aggressive capital expenditure plans and past acquisitions, says the report.
Find out why Tata Sons pledged 11 million shares in Tata Motors, 10 million in Tata Steel and and 15 million in Tata Consultancy Services with Centralbank Financial Services Ltd.
Half a dozen names are doing the rounds as replacement for Cyrus Mistry as the chairman of the Tata Group.
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.
In an internal communication to the employees, he also said that when Tata Sons took over Air India, ensuring the safety of its passengers was its first and foremost priority and "there was no compromising on it."
Provisioning for bad investments, finance costs shoot up in FY14.
At TCS, Chandrasekaran would be succeeded by Rajesh Gopinathan, currently the company's chief financial officer.
Funds will be raised via non-cumulative preference shares issued to Tata Sons on rights basis
Tata said that their exposure in the airline was merely a "financial investment", does not represent a major re-entry into the airlines business.
The court also asked Key-Systems GmBH, which is an international ICANN accredited registrar for Internet addresses, to cancel registration of domain name www.tatainfotech.in, granted to Arno Palmen.
The Delhi High Court has ordered a journalist not to host an award event using the name "Ratan Tata National Icon Award" or the trademarks "Tata" and "Tata Trusts". The court found that Ratan Tata's name and the Tata trademarks are protected and that the journalist's use of them was unauthorized. The case was filed by Sir Ratan Tata Trust and Tata Sons Pvt Ltd, who alleged that the journalist's actions caused harm to their reputation and goodwill. The court also ordered the journalist to stop using the logo and pictures related to Ratan Tata and Tata Trusts.
Kumar will hold responsibility for strategy at the group level.
The Delhi High Court has permitted IRS officer Sameer Wankhede to move a court in Mumbai with his defamation lawsuit against Shah Rukh Khan's Red Chillies Entertainment over the web series "The Ba***ds of Bollywood."
Rs 135.3 crore. How much of it was salary, and how much commission?
Ratan Naval Tata, a prominent industrialist, philanthropist, and former Chairman of Tata Sons, has been admitted to the intensive care unit (ICU) at Breach Candy Hospital in Mumbai, reports Mid-Day newspaper.
Terms reveal that such premature redemption is allowable on dividend reset dates in case there is no agreement on the dividend rate
"I mentioned to sir (Ratan Tata) that the son of a fellow army officer was handicapped below the waist and needed a job," he told PTI from Pune where he now lives. "Vijay Bisht, son of my then colleague in M&G area HQ Lt Col B S Bisht, had sustained severe leg injuries after falling from a horse and I came to know he was looking for a job," he added. Tata said the needful would be done. And it was.
The infusion will help the airlines plan their next rounds of operations as easing of 5/20 norms
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The proposal of Tatas and Singapore Airlines for a new joint venture, entailing foreign investment of $49 million, is likely to come up before the Foreign Investment Promotion Board for approval on October 18.
The labour ministry on Friday appointed Tata Sons, promoter of the major operating companies of the Tata group, a knowledge partner for enhancing employability and entrepreneurship among the youth.
DoCoMo said it is uncertain whether Tata Sons will pay the awarded damages.
Will it be Noel Tata, Ratan Tata's half brother?
The country's largest IT services company TCS on Thursday announced a tie-up with private equity major TPG for its upcoming data centre business, in which both the partners aim to invest Rs 18,000 crore. TPG will invest $1 billion or around Rs 8,870 crore in the AI data centre business christened as 'Hypervault', and hold a stake between 27.5-49 per cent in the venture.
Most airlines have fattened their profits, turned the corner, or cut their losses, except AirAsia India.
Shares worth over Rs 2,800 crore in four Tata firms, including TCS and Tata Motors, pledged by Tata Sons have been released.
Vistara's growth and future funding requirement would hinge on how soon the government changes these rules.
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