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.
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.
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.
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.
The total value of India's top 100 brands has increased by 2 per cent, from $162.1 billion in 2020 to $164.9 billion in 2021, according to the latest Brand Finance India 100 2021 report. This uplift in brand value over the course of the first year of the pandemic is an impressive feat given the global economic crisis following the implementation of national lockdowns in March 2020, when business activity was brought to a halt, affecting both production and consumption. Among the brands that came on the top of the list include Tata Group, Reliance Industries, and Mahindra Group.
Indian automakers are reviving legacy nameplates to leverage brand recall and stand out in a crowded market, as classic badges like Sierra, Safari, Baleno and Scorpio return to attract buyers.
'Football is such a beautiful sport, and for the first time, I felt like I wasn't being seen for my gender, but for my game.'
The groups plan to take on well-entrenched players like Amazon, Flipkart, and Paytm by merging their offline businesses with e-commerce initiatives.
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
Some of the proposed policies have been welcomed by pilots and cabin crew, while others have sparked criticism.
Singapore Airlines on Tuesday said Vistara will be merged with Tata group-owned Air India. Tata group owns a 51 per cent stake in Vistara, and the remaining 49 per cent shareholding is with Singapore Airlines (SIA). As part of the transaction, SIA will also invest Rs 2,058.5 crore in Air India.
Holding company proposed with different businesses as divisions.
Tata Indicom, the umbrella brand of Tata group's telecom services, is all set to roll out its Wireless-Fidelity or Wi-Fi services in India, even as it has launched the service at five Mumbai-based Barista coffee outlets.\n\n
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
The Tata Steel group - comprising Tata Steel and Corus Group, the European steel maker it acquired in January on Wednesday took decisive steps towards integration by setting up a new organisation structure that will become effective January 1, 2008.
While the entry of 62-year-old Noel Tata, half brother of Ratan Tata, into Tata Trusts is being seen as a significant departure from the past within the salt-to-software conglomerate, Jehangir, a long-standing philanthropist is expected to add heft to Tata Trusts.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
Indian Hotels rolls back its multi-brand strategy to focus solely on luxury, looks to paint all its properties with the Tajness brush.
Samridhi Bhardwaj analyses the dynamics of duty-free liquor allowance in India.
Apart from Delhi, Mumbai and Chennai, the codeshare agreement with Lufthansa will cover Ahmedabad, Bengaluru, Goa, Hyderabad, Kolkata, Kochi and Pune.
The change in policy for the three companies, from listing to merger, shows the level of discomfort within the government about their ability to take on the expanded load for insurance coverage with their current financial strength, including the massive premium and claim settlement cover under the proposed universal health coverage plan announced in Budget 2018.
By conventional yardsticks, Das was an audacious choice by Prime Minister Narendra Modi and the BJP president Amit Shah, like Devendra Fadnavis was in Maharashtra and Manohar Lal Khattar in Haryana. Will his choice pay off in the elections next month?
It had reorganised its India business by carving out public sector undertaking and government businesses. Besides the company had also split its India and West Asia businesses.
A century-old European bicycle brand gets a makeover under its new Indian owner. But is there room for yet another premium commuter bike?
'Our network somehow saves 3,000 lives every year, but there's so much more to do, as every death due to shortage of blood is easily avoidable.'
Then chief minister Jyoti Basu once told an industrialist that capitalists were class enemies and he should expect no sympathy.
Prime Minister Narendra Modi on Thursday address Members of the British Parliament in London where he promised to open more doors of cooperation between the two countries and delved on issues like terrorism and United Nations reforms.
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