A local court in Nashik has remanded two accused in the Tata Consultancy Services harassment case to police custody. The case involves allegations of sexual harassment and forced religious conversion at a TCS unit. An investigation is underway, and TCS has suspended employees allegedly involved.
Families of 15 of the 260 victims of last year's Air India plane crash in Ahmedabad have declined to collect the personal belongings of their loved ones, while ex-gratia payments of Rs 1 crore have been disbursed to 91 per cent of the families of the deceased.
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.
Had it been know that Jinnah suffered from tuberculosis and did not have much time to live, there is a possibility Partition could have been averted.
The higher dividend will help Tata Trusts, which owns 67 per cent stake in Tata Sons, to invest in its charitable activities. The total dividend outgo will be Rs 404 crore.
Tata Consultancy Services' (TCS) annual dividend payout declined to a four-year low of approximately 39,820 crore in FY26, marking its steepest decline in a decade and potentially adversely affecting Tata Sons' finances, which heavily rely on TCS's dividend income.
Addressing close to 700 employees and the leadership team across the Air India headquarters and Air India Training Academy in Gurugram, Chandrasekaran urged them to stay on course, terming the accident the most "heartbreaking" crisis of his career.
Veteran industrialist Venu Srinivasan has resigned from the Bai Hirabai Jamsetji Tata Navsari Charitable Institution, following a challenge to his appointment by a former trustee.
Air India has announced the appointment of Tewolde Gebremariam, former CEO of Ethiopian Airlines Group, as its new Managing Director and Chief Executive Officer, replacing Campbell Wilson. This strategic appointment comes as the airline navigates expansion amidst significant challenges.
The Supreme Court on Friday set aside NCLAT order of December 18, 2019 restoring Cyrus Mistry as executive chairman of Tata Group.
The reported buyback of Temasek's 20 per cent stake in Tata Play by Tata Sons will be the third instance of Tata Group providing an exit to a foreign partner in recent years. In 2018, Tata Sons paid $1.27 billion to DoCoMo to buy back 26 per cent of the group's telecommunication venture, Tata Teleservices. This was followed by Tata Sons acquiring AirAsia Berhad's 49 per cent stake in AirAsia India in two tranches to make it a wholly owned subsidiary.
Three disappointing experiences with Tata companies made me question whether the group's historic values of customer focus and accountability are slowly fading, notes Dr N Ravichandran.
Tata Sons chairman Natarajan Chandrasekaran was paid Rs. 113 crore as remuneration for 2022-23 (FY23), including Rs. 100 crore as commission on profit. Chandrasekaran, 60, often referred to as Chandra, received a remuneration of Rs. 109 crore in 2021-22 (FY22). With this, Chandra has emerged as one of the highest-paid chief executive officers (CEO) in Corporate India for FY23.
Mehli Mistry is backed by three other trustees -- Pramit Jhaveri, Darius Khambata and Jehangir HC Jehangir -- against Tata Trusts Chairman Noel Tata and the two vice-chairmen, Venu Srinivasan and Vijay Singh.
N Chandrasekaran, chairman of Tata Consumer Products (TCPL), stated that India continues to experience credible economic growth, driven by strong demographic fundamentals and accelerating digital public infrastructure, despite a fragmented global landscape.
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 has made Tata Investments its subsidiary by acquiring around 55 per cent stake in the company.
The pilot-in-command of an Air India Phuket-Delhi flight that experienced a sudden 300-foot altitude drop last week has tested positive for a psychoactive substance, identified by sources as marijuana, in a confirmatory test. This development comes as Civil Aviation Minister K Rammohan Naidu met with Air India executives to discuss the serious incident, which left 24 people injured.
Top honchos of the Tata group, including Tata Trusts Chairman Noel Tata and Tata Sons Chairman N Chandrasekaran, on Tuesday met Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman amid infighting among trustees over board appointments and governance issues.
N Chandrasekaran, chairman of Tata Sons, has been appointed as the chairman of Air India by the airline's board, aviation industry sources said on Monday.
Tata Trusts, which exerts decisive influence over India's most valuable conglomerate through its about 66 per cent stake of Tata Sons, finds itself in the midst of infighting among its trustees over board appointment and governance issues.
The Tata trusts can nominate one-third of the directors of Tata Sons
A quiet but consequential power struggle has erupted within the storied 156-year-old Tata Trusts just a year after the death of group patriarch Ratan Tata on October 9, 2024.
Thanks to a big payout by the group's cash cow, Tata Consultancy Services (TCS), Tata Sons is set to earn a record-high equity dividend worth nearly Rs 33,350 crore from the group's listed companies for FY23, up 130 per cent from Rs 14,529 crore in FY22. Nearly 90 per cent of this, or around Rs 30,500 crore, is estimated to accrue to Tata Sons while the rest will show up in its profit & loss account for FY24. This is because nearly 80 per cent of the dividend payout by TCS for FY23 was done before the end of the financial year through three quarterly interim instalments and a special one in January this year.
On Wednesday, the TCS board approved an up to Rs 18,000 crore buyback offer entailing 4 crore shares at Rs 4,500 apiece. According to a postal ballot notice by the company, Tata Sons and TICL intend to participate in the buyback offer. Tata Sons, which holds about 266.91 crore shares, intends to tender 2.88 crore shares, while TICL (which holds 10,23,685 shares) intends to tender 11,055 shares, it added.
The 14 listed Tata group companies in which Tata Sons holds a stake are paying out a record Rs 35,441 crore to their shareholders by way of dividends and share buyback for FY21.
With the Supreme Court not getting into the valuation part and leaving it to the two parties, lawyers said there was nothing much for Mistry Group to negotiate.
The transaction - the second one in less than a year - is seen as an effort to restore investor faith in the company following a dismal performance by its UK subsidiary, Jaguar Land Rover Automotive.
When specifically asked about the reason for the crash and whether Air India is privy to any preliminary findings, Chandrasekaran said, "One would have to wait for the probe to conclude."
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Swamy had written to the Election Commission, the DGCA and the Civil Aviation Ministry not to grant a license to the carrier.
These trusts hold 66 per cent stake in unlisted Tata Sons, the holding company of the $100-billion Tata group of companies.
'Ultimately, everything has to be shared. That's why you have that talent. To share it. Unless you share, it won't continue.'
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
Police are investigating the bank accounts of those arrested in connection with the sexual harassment and religious conversion case involving women employees of an IT firm in Nashik to determine if they received funds for illegal activities. A special investigation team (SIT) is handling the case.
