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.
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.
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.
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.
'Ultimately, everything has to be shared. That's why you have that talent. To share it. Unless you share, it won't continue.'
The Tata trusts can nominate one-third of the directors of Tata Sons
'Think of the brain like a machine, and Alzheimer's is like rust.'
'Like a rusty machine breaks down, a rusty brain also breaks down. And when it breaks down, you have memory loss, cognitive issues and so on.'
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.
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.
A Maharashtra Legislative Council official has demanded strict action against TCS employees in Nashik following allegations of sexual harassment and forced religious conversion. An SIT has been formed and arrests have been made.
Tata Sons Chairman N Chandrasekaran addressed Air India employees, acknowledging the airline's challenging phase while reaffirming the Tata Group's commitment to its long-term transformation, focusing on service quality, safety, and operational improvements.
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."
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.
Who are the special fathers of these famous Indians? The paternal figures responsible for putting them on the right path and helping them find greatness.
Maharashtra legislative council deputy chairperson Neelam Gorhe has demanded stringent action against employees of Tata Consultancy Services (TCS) in Nashik following allegations of sexual harassment and forced religious conversion by female employees.
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.
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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.
'1991 was an exceptional period in Indian history.' 'A big 400-volt shock was administered to the system, which was required. Today, we are in a much, much better position.'
Tata Trusts chairman Noel Tata and two other powerful trustees considered close to him blocked the reappointment of late Ratan Tata's close associate and businessman Mehli Mistry as trustee, deepening the rift at the philanthropic arm that controls the holding company of Tata Group, people familiar with the matter said.
As industrial plants boost the village's profile, locals demand priority hiring, alongside better storage facilities and water security.
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.
The Tata Group and TCS have announced a multi-dimensional partnership with OpenAI to build AI infrastructure, offer joint solutions, and train Indian youth, aiming to position India as a global AI hub.
Tata Sons, India's biggest promoter in the private sector, is expected to earn a record Rs 27,797 crore via equity dividend and proceeds through share buyback from its listed group companies for the financial year 2021-22. This amount is up 17.6 per cent from Rs 23,663 crore that it pocketed in FY21. Nearly two-thirds of these proceeds will show up in Tata Sons' financial results for FY22, thanks to the quarterly interim dividend by its cash cow Tata Consultancy Services (TCS).
As the business head of Trent Hypermarket, Neville ensures that customers receive high-quality products that adhere to Tata standards.
US-based chip maker Intel has signed an agreement with Tata Group to manufacture and assemble semiconductors in India for the local market, the Indian conglomerate said on Monday.
Gurgaon-based mmt admin (commonly known as MakeMyTrip) has been using the domain name 'oktatabyebye.com'. Tata Sons has contended that it is confusingly similar to its 'Tata' brand and the travel portal runner has no rights or legitimate interests to use it. In May, Tata Sons had moved the Geneva-based WIPO Arbitration and Mediation Center demanding transfer of disputed domain name.
Tata Sons has moved the Supreme Court against an estimated Rs 300-crore (Rs 3-billion) sales tax demand from the Maharashtra state government.
Seth has been named by six women including model Diandra Soares, filmmaker Natasha Rathore and writer Ira Trivedi.
Tata Motors' commercial vehicle (CV) business debuted on the BSE on Wednesday, completing the automaker's long-planned demerger into separate listed entities for its passenger and CV operations.
Investigation into alleged religious conversion and sexual harassment at a Nashik branch of TCS reveals that seven male accused operated as an organised gang to target female employees.
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The RBI has accepted the application withdrawal request, according to the statement.
