Ginger Hotels are the Tata Group's chain of budget hotels.
There were certainly qualities adhering to the Tata Group, which emanated from the persona of Ratan Tata. Most notable of these would be the low profile he maintained, which sharply contrasted the in-your-face celebrity status, celebration of wealth and pursuit of importance many of liberalised India's rich, love, notes Shyam G Menon.
Ratan Tata: A Life, the much awaited biography, reveals that after a year of 'parallel running', Tata began having second thoughts about Cyrus Mistry's 'suitability'. 'Mistry targeted Ratan, the man who had elevated him from virtual oblivion into the mainstream of the Tatas...'
'When the bombing happened in the Taj Mahal hotel in 2008, that was a very sad moment, but he really took care of the people, took care of everybody and that was when you saw some of his best moments.' 'There are some things which we will never forget. That is when the best of a person comes out.'
When Indian Hotels Chairman Ratan Tata told shareholders at the annual general meeting earlier this week that the hotel chain, which operates the Taj group, continues to be impacted by the slowdown, he was merely echoing what P R S Oberoi, his counterpart at the East India Hotels (EIH), had said recently.
A division bench of Justices Ranjit More and Bharati Dangre on Monday quashed and set aside the proceedings.
Mukund Rajan, who worked closely with Ratan Tata, recalls the unique experience of working with the corporate titan.
"'His mantra was simple yet profound: Be number one or be ready to be wiped out. There's nothing in between," he used to say and it was a reminder for all to always aim high, to push boundaries, and to strive for excellence.
On Tata's retirement in December, 2012, Mistry will take the charge of IHCL.
What would happen to the ownership after Ratan Tata? The succession plan for the 263,862 Tata Sons promoter shares owned by seven Tata Trusts and other holdings of Tata brothers? Would a younger family member inherit?
The Taj Mahal hotel, ravaged during the 26/11 terror strikes, reopened on Sunday evening with its owner Ratan Tata dedicating the restored hotel to those who had lost their lives in the carnage."We cannot be knocked down--this is a memorable day and a tribute to those who saved many lives," an emotional Tata said, adding "it gives me a great sense of pride--this is the start of a new era."
Ratan Tata, Chairman Emeritus of the Tata Group, on Sunday said ace investor Rakesh Jhunjhunwala will always be remembered for his acute understanding of the markets as well as for his jovial personality, kindness, and foresightedness. Jhunjhunwala, often referred to as 'India's Warren Buffett', passed away here Sunday morning due to a cardiac arrest. He was 62. Jhunjhunwala had investments in more than three dozen companies, the most valuable being watch and jewellery maker Titan, part of the Tata conglomerate.
In an attempt to allay concerns of the US-based hospitality chain, Indian Hotels Co Ltd vice-chairman R K Krishna Kumar, in a letter to Lovejoy, said the Tata group firm would like to engage in a constructive dialogue.
Ratan Tata-led interim management of Tata Sons is seeking to oust Mistry from his positions in the operating group firms, including IHCL and Tata Motors
Ratan Tata was the first one to realise that Indian companies had become a prisoner to tradition and needed to radically innovate.
Shares of Tata Group companies on Thursday rose up to 10 per cent, with Tata Chemicals and Tata Teleservices among the major gainers. Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming the group into a global conglomerate, passed away late on Wednesday. He was 86. "Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels.
'Ratan had the quality that JRD and Russi Mody had -- they could walk with kings and never lose the common touch.'
This was a man who like Buddha transformed himself into achieving the impossible and being an inspiration for many generations to come, says business thinker Mudit Jain.
The Taj Mahal Hotel, which completed 100 years of existence on Tuesday, will continue as the symbol of India's hospitality and warmth, Tata Group Chairman Ratan Tata said in Mumbai.
The sudden resignation and almost-immediate announcement of a successor came as a surprise to many.
Here stood a man who embodied the legacy of whatever Brand Tata stood for, embellished it, and departed into the long night, leaving the brand legacy for others to further enrich, notes R Gopalakrishnan.
Indian Premier League (IPL) has a rather surprising request for fans -- stay in hotels other than Taj Hotels run by top corporate house Tata, saying even the teams are not staying there. Arguably the most controversial cricket administrator IPL commissioner Lalit Modi, said in a post on micro-blogging social networking website Twitter that IPL is "not using Taj Hotels in any city."
Tata Steel and Indian Hotels on Wednesday said they have always made all relevant disclosures and have no further comments to offer following comments made by ousted Tata Group chairman Cyrus Mistry that Tata group firms could face a potential USD 18 billion writedown.
While study was done before the current boardroom battle began, the findings indicate Tata is no longer viewed as aspirational brand by working professionals.
Mistry is not the first Tata bigwig to be ousted and Tata is not the only big name which saw a doyen or two leave
It will expand their footprint radically, give them a huge presence at the top end of the market, and reduce their dependence on India.
Sources in the Tata group said they could not attend as they were travelling.
Following the horrific terror attacks in Mumbai that have left more than 100 people dead and 300 injured, Ratan Tata, chairman Tata Sons and of Indian Hotels Co Ltd -- which owns the Taj group of hotels -- has condemned the killing of innocent people.
Insurer likely to support Ratan Tata; reduction in stake might have been profit booking.
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.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
In 2006-07, TCS had employed 7,000 people in the eastern states.
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.
Every move that strengthens Cyrus Mistry's position in companies like Indian Hotels could prolong the uncertainty.
As a step to protect its interest as a lender, SBI will look at the financial stability and corporate governance practices in companies where it has exposure.
With a focus on financial literacy for women, Millennium Mams is an 18-year-old initiative started by Kolkata-based industrialist B K Dhanuka.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
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