With its nominees on the board, Tata Sons will have the controlling stake of 51%.
The objective of the council is to provide strategic and operational support to the group chairman.
The Tata group on Thursday launched its super app, Tata Neu, bringing all its brands in one platform as it seeks to play a major role in the Indian ecommerce space currently dominated by the likes of Amazon and Flipkart.
India's largest IT services company TCS believes that generative artificial intelligence (AI) is not just another tech cycle but a "civilisational shift" which will positively benefit every industry.
JV will set up a full-service carrier based out of New Delhi.
'This is the time to be creative, use AI in real-time operations, and unlock new demand and aspirations.'
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
Tata group companies have outperformed the broader market over the past four years, under the chairmanship of N Chandrasekaran. However, the group's fortunes rely heavily on the performance of Tata Consultancy Services (TCS) now, as compared to the past. The combined market capitalisation of the group's listed companies has nearly doubled in the last four years, against a 77 per cent rally in the benchmark Sensex during the period. The overall market value of 16 key group firms - excluding listed subsidiaries of such entities - stood at Rs 16.8 trillion as of Friday. This was close to 2x the Rs 8.45 trillion as of February 21, 2017 - the day Chandrasekaran took charge as chairman of Tata Sons.
As Tata and DoCoMo look for out-of-court settlement, here's a blow-by-blow account of the long legal tussle
The Supreme Court in its order said it was not open for SP group companies to call Ratan Tata a "shadow director" when the board of which Cyrus Mistry was chairman had nominated him as chairman emeritus of the USD 100 billion salt-to-software Tata group.
'Tata Group is excited to work together to make Air India the airline of choice in terms of passenger comfort and service'. This is an audio message from Ratan Tata played onboard some Air India flights. Tata Group completed the takeover of the loss-making Air India on January 27.
Mistry would be succeeding as the chairman of Tata Group.
While four of the directors would be nominated by Tata Sons, the other two would be representatives of Singapore Airlines.
The Delhi High Court questioned IRS officer Sameer Wankhede over the maintainability of his defamation suit against Shahrukh Khan, Red Chillies Entertainment, and Netflix for allegedly maligning his reputation in their series 'The Ba***ds of Bollywood'.
The price movement and trading volumes for few days prior to Mistry's ouster will also be looked into
Tata Digital Ltd has acquired a majority stake in online grocery platform BigBasket. Tata Digital is a 100 per cent subsidiary of Tata Sons. "Grocery is one of the largest components of an individual's consumption basket in India, and BigBasket as India's largest e-grocery player, fits in perfectly with our vision of creating a large consumer digital ecosystem.
The parties have jointly applied to the Delhi high court, requesting that it accept their agreed terms of settlement, subject to such further orders as the court sees fit, it said.
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.
The NCLAT, in its December 18, 2019 order, had restrained the company, its board of directors and shareholders from exercising the power under the article against minority members except in exceptional circumstances and in the interest of company. A bench headed by Chief Justice S A Bobde dealt with this issue in its 282-page verdict which set aside the NCLAT's order that had restored Cyrus Mistry as the executive chairman of the USD 100 billion salt-to-software conglomerate.
The new owners of Air India will have to retain all the employees of the national carrier for at least one year post which they can offer a VRS. The gratuity, pension fund and post retirement medical benefits of existing and past employees too would be honoured by the new owner, civil aviation secretary Rajiv Bansal said. Tata Sons has emerged as the winning bidder for Air India with the government accepting its Rs 18,000 crore offer to acquire 100 per cent of the debt-laden state-run carrier.
Starting the process of incorporating a new company for its proposed aviation venture with Singapore Airlines, Tata group has sought to register this entity as 'Tata SIA Airlines Limited'.
"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
Tata Group-owned Air India shaved off its losses by 60 per cent to Rs 4,444.10 crore in FY24 over the previous year, according to the Tata Sons annual report for 2023-24. The airline had reported a loss of Rs 11,387.96 crore in FY23, the annual report said.
A committee would consider candidates inside and outside the conglomerate to succeed Ratan Tata.
People who attended the celebrations said the sincerity and passion, besides absence of smart one-liners, reminded them of his predecessor.
The search panel might have to lower the benchmark to find a successor to the head of $71 billion business empire.
Cyrus Mistry, who was replaced as chairman of Tata Sons last Monday, October 24, still serves as the chairman of Tata Steel, Tata Motors, Tata Consultancy Services, Indian Hotels, Tata Global Beverages, Tata Chemicals, Tata Industries and Tata Teleservices.
Mistry indeed followed standards of corporate governance so that it should not create any controversies at a later date
Historically, Tata Steel has always been among the biggest companies in the group in terms of m-cap, revenue, and profit but its fortunes began to decline after 2010 due to a sharp decline in the profitability of its European operations that it had acquired in 2007. The company was hit by a sharp rise in its debt level after this acquisition. First, it lost out to Tata Motors in terms of revenue in FY11 and then in March 2015, Titan beat it to become the third-biggest firm in the group in terms of m-cap. In FY20, TCS reported higher revenue and Tata Steel had become the third biggest company in that terms.
The ministry of civil aviation clarified that, contrary to circulating reports, a video recorder that had been recovered at the crash site was not the DFDR.
Cyrus Pallonji Mistry, 43, currently the Deputy Chairman of Tata Sons has been a director of Tata Sons since 2006.
The Tata Sons' chairman emeritus has been aggressively investing in start-ups, ranging from e-commerce firms to cab aggregators
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
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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.
Tata Sons on Saturday denied that group Chairman Ratan Tata has used words such as "venal" business environment or accused the government of"inaction" in media interviews.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
After Singapore this is the second such nodal office opened by the new group chairman.
Amid speculation over Tata Sons chairman Ratan Tata's successor, the group has said that the selection committee has interviewed several candidates, both internal and external, but no final decision has been taken.
