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<ul><li>In his four year tenure as a chairman, <keyword id="6356895" type="General" weightage="20" keywordseo="Cyrus-Mistry" source="Orion">Cyrus Mistry</keyword> was known to maintain a very low profile. </li><li>Cyrus <keyword id="6391150" type="General" weightage="100" keywordseo="mistry" source="Orion">Mistry</keyword>’s father Pallonji Mistry who passed away th<a href="https://www.businessinsider.in/thelife/personalities/news/pallonji-mistry-the-elusive-but-powerful-phantom-of-bombay-house/articleshow/92511725.cms">is June, was known as the Phantom of Bombay H</a>ouse. </li><li>In 2016, Cyrus Mistry was unceremoniously removed as the chairman without giving reasons and he was no more low profile. </li><li>Mistry called his removal from chairmanship ‘unique in history’.</li></ul>During his four-year tenure as the chairman of <keyword id="46894" type="General" weightage="80" keywordseo="tata-sons" source="Orion">Tata Sons</keyword>, Cyrus Mistry had earned a nickname – ‘the most low profile man with the most high profile job’. After all he came from a family, which is known to zealously protect its privacy. His father Pallonji Mistry who passed away th<a href="https://www.businessinsider.in/thelife/personalities/news/pallonji-mistry-the-elusive-but-powerful-phantom-of-bombay-house/articleshow/92511725.cms">is June, was known as the Phantom of Bombay H</a>ouse for the power he used to wield at the Tata group headquarters and was barely ever seen or heard. If the course ran smooth, Cyrus too would have remained so but in 2016, he was unceremoniously removed as the chairman without giving reasons and he was no more low profile. In a bitter boardroom coup, Mistry was asked to step down and when he refused, he was unceremoniously removed by the board of directors. Subsequently he was forced to step down from boards of other Tata companies too. His removal led to one of the ugliest battles that corporate India had ever seen. <cmsannotation type="cmsannotation" annotationid="‘Unique in history’" comment="subhead" text="‘Unique in history’">‘Unique in history’</cmsannotation> Mistry called his removal from chairmanship ‘unique in history’. In addition to questioning many business decisions saying that five companies of Tata group had writedowns that accounted to $18 billion; he also questioned the deal with Air Asia which is known to have made fraudulent transactions. “We managed to raise awareness among stakeholders of the challenges in governance and ethics in the group. These were tough messages that had to be sent for the long term interest of the group,” he told <a href="https://economictimes.indiatimes.com/opinion/interviews/i-have-a-lifetime-ahead-of-me-but-my-fight-continues-cyrus-mistry/articleshow/56073727.cms?from=mdr">ET in an interview right after he </a>was removed as the chairman. He had accused Ratan Tata of inappropriate intervention and Mistry was pushed to become a ‘lame duck chairman’. The case, as expected, went to court and after a string of shocking twists and turns, the Supreme Court passed an order for the Tata group, after which Mistry filed review petitions and they too were set aside by the country’s highest judicial authority. Mistry, however, never did believe it to be a short-term fight. “I have a lifetime ahead of me and my fight will go on,” he had said. If only, that were true. <cmsannotation type="cmsannotation" annotationid="Mistry’s Clementine mirror" comment="subhead" text="Mistry’s Clementine mirror">Mistry’s Clementine mirror</cmsannotation> Cyrus Mistry is survived by wife Rohiqa Mistry and two sons Firoz and Zahan. Rohiqa is the daughter of one of Mumbai’s famous lawyers Iqbal Chagla. The unusually quiet Mistry once spoke in an interview on the Tata website of her role in life. He called her a <a href="https://economictimes.indiatimes.com/magazines/panache/my-wife-does-not-hesitate-to-disagree-with-me-tata-groupscyrus-mistry/articleshow/54399682.cms?from=mdr">Clementine mirror who never shies</a> away from disagreeing with him. He compared her to Winston Churchill’s wife Clementine who had once famously pointed out the errors in the judgment of the war-time hero and Prime Minister of England during its darkest hours. Mistry’s elder brother Shapoor is the sole owner of the Shapoorji Pallonji group, which is known for its construction business in India and the Middle East. The group had also owned Eureka Forbes which was sold to a private equity fund in 2021. Mistry’s friend and NCP Sharad Pawar’s daughter Supriya Sule who is his friend, calls him an exceptionally hard-working person, who always puts his best foot forward. The golf loving Mistry too had admitted, during his tenure as Tata Sons chairman, that he has done a bad job of work life balance. However, immediately after his exit, the first thing he did even before he took the legal recourse, was to go on a holiday. <cmsannotation type="cmsannotation" annotationid="Timeline of events of Mistry-Tata case" comment="subhead" text="Timeline of events of Mistry-Tata case">Timeline of events of Mistry-Tata case</cmsannotation> 2011: Cyrus Mistry is appointed as the deputy chairman of Tata Sons. 2012: Cyrus Mistry takes over as the chairman of Tata Sons, as Ratan Tata becomes the chairman emeritus. 2016: Tata Sons removes Cyrus Mistry as the chairman and reinstates Ratan Tata as the interim chairman. Mistry companies move National Company Law Tribunal (NCLT) alleging oppression of minority shareholders and challenge his removal. 2017: Tata Sons names N Chandrasekhar as the chairman of Tata Sons. 2019: NCLT restores Mistry as the chairman of Tata Sons. 2020: Tata Sons challenges NCLT decision in the Supreme Court. SC stays NCLT decision. It also restrains Shapoorji Pallonji group from pledging its shares in Tata Sons. SC sets aside NCLT decision to reinstate Mistry as chairman of Tata Sons. 2022: SC rejects Mistry’s petition to review its earlier decision.

Life and times of Cyrus Mistry – the most low profile man with the most high profile exit

<ul><li><keyword id="6356895" type="General" weightage="20" keywordseo="Cyrus-Mistry" source="Orion">Cyrus Mistry</keyword> was once liked by Rata <keyword id="8555" type="General" weightage="100" keywordseo="tata" source="Orion">Tata</keyword>, who called him astute and humble, and later anointed him as his successor in 2012.</li><li><keyword id="6391150" type="General" weightage="80" keywordseo="mistry" source="Orion">Mistry</keyword> went on to become the sixth <keyword id="6355725" type="General" weightage="80" keywordseo="tata-group" source="Orion">Tata Group</keyword> chairman, and only the second without a Tata surname.</li><li>However, Mistry’s ascension to the top of India’s biggest conglomerate was short-lived, with <keyword id="6360722" type="General" weightage="50" keywordseo="ratan-tata" source="Orion">Ratan Tata</keyword> himself ousting Mistry in a ‘palace coup’ in 2016.</li><li>Here’s a run down the memory lane of the history between the Mistrys and Tatas, India’s most prominent Parsi families.</li></ul>Cyrus Mistry’s untimely death in an accident near Mumbai has come as a shock to many, but it has also re-opened the saga of his prolonged battle with the Tata Group and Ratan Tata. Mistry was otherwise a very reclusive, private person, and not much is out in the public about his life. However, his battle with the Tata Group was as public and explosive as it could be, where he locked horns with Ratan Tata, the group’s managing trustee at the time, R Venkataramanan, and other senior officials. Mistry was the chairman of the Tata Group for four years, from 2012 to 2016. During his tenure as the chairman, Mistry is credited for turning around Tata Motors, but he seems to have ruffled feathers during his tenure. His reclusive nature meant he did not host a single press conference during his four years as the group chairman. But what could have gone so wrong that two of the most prominent Parsi families of the country ended up standing against each other, despite a partnership of over 90 years? <cmsannotation type="cmsannotation" annotationid="Tatas and Mistrys – how it all began" comment="subhead" text="Tatas and Mistrys – how it all began">Tatas and Mistrys – how it all began</cmsannotation> Tatas and Mistrys share nearly a century of relationship spanning over three generations. It all began in the 1930s when Shapoorji Pallonji acquired a 12.5% stake in Tata Sons – the owner of the Tata Group – from FE Dinshaw’s estate. The SP Group’s stake increased to 18.5% after a rights issue in 1996. Since then, the Pallonjis have remained quiet partners in the Tata Group. By some estimates, their investments amounted to just $11 million for the stake they have in the Tata Group, but the value of those investments has surged to several billion dollars over the years. Buffett who? <cmsannotation type="cmsannotation" annotationid="Who was Cyrus Mistry?" comment="subhead" text="Who was Cyrus Mistry?"><keyword id="14894773" type="General" weightage="20" keywordseo="Who-was-Cyrus-Mistry" source="Orion">Who was Cyrus Mistry</keyword>?</cmsannotation> Cyrus Mistry was the grandson of Shapoorji Pallonji and the son of Pallonji Mistry. He is survived by his wife and two children. Born in 1968, Mistry got a civil engineering degree from Imperial College London. He joined his family’s construction company, Shapoorji Pallonji &amp; Co., as a director in 1991. His connection with the Tata Group began in 2006, when he took up the mantle of a director a year after his father retired. He was subsequently elevated as the deputy chairman of the Tata Group. When Ratan Tata finally retired as the group chairman in 2012, Mistry replaced him and became the sixth chairman of the Tata Group – and only the second to not bear the Tata surname. <cmsannotation type="cmsannotation" annotationid="‘An appointment of convenience’, and not conviction?" comment="subhead" text="‘An appointment of convenience’, and not conviction?">‘An appointment of convenience’, and not conviction?</cmsannotation> Unlike Ratan Tata’s ascension to the throne as the head of the Tata Group, Mistry’s elevation was seen by some in the industry as an “appointment of convenience”, not conviction. Further lending credence to this thought is Ratan Tata’s eventual return as the Tata Group chairman in just four years. When Mistry entered his family business in 1991, Ratan Tata was elevated as the group chairman by his uncle, JRD Tata. Since then, the family patriarch has ruled over the group’s businesses. <cmsannotation type="cmsannotation" annotationid="How the Tata-Pallonji’s decades-long partnership broke down" comment="subhead" text="How the Tata-Pallonji’s decades-long partnership broke down">How the Tata-Pallonji’s decades-long partnership broke down</cmsannotation> Mistry, despite his reserved nature, pulled no punches when it came to steering the Tata Group’s future. He voiced his opposition to the group’s often expensive decisions – like the one to acquire Jaguar Land Rover, or rolling out Ratan Tata’s pet project, the ₹1 lakh Nano car. <div type="image" title="Ratan Tata Cyrus Mistry1" msid="94000761" hostid="261" sizebytes="84758" caption="&amp;lt;p&amp;gt;Ratan Tata and Cyrus Mistry&amp;lt;/p&amp;gt;"></div> Mistry also voiced his opposition to investing the cash sink that is the aviation business – Tata Sons eventually ended up acquiring a 51% stake in a $100 million venture, far above Mistry’s agreed promise of a 30% stake in a $30 million equity. Mistry’s ouster from the Tata Group has been called a ‘palace coup’ by many in the industry. His pushback against the Tatas and attempts to steer the group to a low-debt high-margin regime eventually led to his downfall. <cmsannotation type="cmsannotation" annotationid="An ugly, public spat" comment="subhead" text="An ugly, public spat">An ugly, public spat</cmsannotation> While Mistry liked to maintain a low profile, his spat with the Tata Group was as public as it could get. Eventually, Tatas’ relationship with Cyrus Mistry broke down so much so that Mistry was unceremoniously ousted as the chairman. This resulted in a legal tussle a few months later, going from the NCLT to the Supreme Court of India. India’s top court eventually ruled against Mistry, and dismissed a review petition filed by the SP Group earlier this year, thus bringing an end to the 6-year long ugly legal battle that frayed ties between India’s two most prominent Parsi families. SEE ALSO: <a href="https://www.businessinsider.in/business/news/modi-and-industry-leaders-express-condolences-on-cyrus-mistrys-death/articleshow/93986009.cms">Cyrus and I shared a laugh last month on a bench in London, says former strategy head of Tata Sons</a> <a href="https://www.businessinsider.in/thelife/personalities/life-and-times-of-cyrus-mistry-the-most-low-profile-man-with-the-most-high-profile-exit/articleshow/93986896.cms">Life and times of Cyrus Mistry – the most low profile man with the most high profile exit</a> <a href="https://www.businessinsider.in/thelife/personalities/news/remembering-cyrus-mistry-10-things-to-know-about-the-former-tata-sons-chairman/slidelist/93994782.cms">Remembering Cyrus Mistry: 10 things to know about the former Tata Sons chairman</a>

Cyrus Mistry vs Tata Group – decoding the battle of prestige between India’s most prominent Parsi families

New Delhi, Jan 3 () Ratan Tata on Friday filed a petition in the Supreme Court seeking to quash a company law appellate court order directing Tata Sons to rehire the chairman it had fired in 2016, saying the judgment was "wrong, erroneous and contrary to the record of the case".
His petition is separate from the one filed by Tata Sons Ltd, the holding company of the USD 110 billion salt-to-software conglomerate, in the Supreme Court on Thursday that sought a stay on the National Company Law Appellate Tribunal's December 18, 2019 order to reinstate Cyrus Mistry as the chairman.
Ratan Tata, who is chairman emeritus and a shareholder of Tata Sons, in the petition said the NCLAT judgment was wrong as it treats Tata Sons as a two-group company.
Mistry, he contended, was made the Executive Chairman of Tata Sons in a purely professional capacity and not as a representative of the Shapoorji Pallonji Group, which holds 18.4 per cent in Tata Sons.
Tata Trusts, of whom Ratan Tata had been a chairman for many years, holds 65.89 per cent of Tata Sons.
The petition said the NCLAT order wrongly suggests that "someone from the SP Group had been a director because of some entrenched right or convention".
"This is untrue and contrary to the records and the articles of association of Tata Sons, which are undisputed and binding on the shareholders including the SP Group," he contended.
He said Mistry's leadership "was lacking" in "his reluctance to timely and meaningfully disassociate himself from his family business after he became the Chairman of Tata Sons and address any conflict in this regard, which was a condition precedent to his appointment as Chairman of Tata Sons".
Mistry, he alleged, "concentrated power and authority in his own hands" and "board members were being alienated on matters relating to Tata Operating Companies where Tata Sons had huge financial exposure and the Board of Tata Sons had to contend with such decisions being cast upon it as fait accompli".
The chairman emeritus targeted Mistry for the handling of the failed partnership with Japan's DoCoMo saying it showed his "complete obstinacy" as he attempted to resist complying with the legal obligations further. "This is not what the Tata Sons brand stands for. Quite to the contrary, honouring its commitments is one of Tata Sons' highest virtues it takes great pride in. Spat with DoCoMo brought ill-repute and reputational losses to Tata Sons."
Ratan Tata said the NCLAT reached a judgment based on "a contrived and self-serving reading of certain correspondence from which it derives erroneous findings which kaleidoscopically portray the larger theme of the judgment on purported oppression and prejudice to the Shapoorji Pallonji Group (SP Group)".
"The Impugned Judgment is also infirm because it blatantly indulges in propagating a selective narrative where relevant facts and records have been glossed over," he said. "The pretense of reasoning and judicial approach is betrayed by omission to consider the record itself."
He said there are no 550 mails between him and Cyrus Mistry as mentioned in the NCLAT judgment. "These mails were between Chairman Emeritus and Chairman Cyrus Mistry and not by entities in Court."
"The whole case of oppression and prejudice is based entirely on words and statements contained in correspondence without there being an iota of evidence to buttress any actual loss/injury being caused to Tata Sons as a result of Cyrus Mistry being forced to act on such interference/interdiction against his wishes," the petition said.
It went on to state that it was "very unfortunate and distressing" that the NCLAT judgment without providing any proper evidence has passed adverse remarks against Ratan Tata who has spent more than half of his life in building the name of the Tata Sons and other Tata operating companies to one of the top global companies.
The judgment creates a wrong legal precedent that is vulnerable to being misused against several companies, including the public sector and government companies, it said. KRH ANZ BAL

Ratan Tata moves SC against NCLAT order reinstating Mistry as Tata Sons chairman

The funeral of industrialist Cyrus Pallonji <keyword id="6391150" type="General" weightage="100" keywordseo="mistry" source="Orion">Mistry</keyword>, a scion of the <keyword id="261354" type="General" weightage="50" keywordseo="shapoorji-pallonji-group" source="Orion">Shapoorji Pallonji Group</keyword>, shall be held here on Tuesday morning, his family said in a moving tribute, though they omitted any reference to the tycoon's brief tenure in <keyword id="6355725" type="General" weightage="50" keywordseo="tata-group" source="Orion">Tata Group</keyword>. "It is with utmost sadness that we announce the sudden and untimely demise of our beloved Cyrus Pallonji Mistry, 54. He succumbed to injuries from an unfortunate car accident on Sunday," said the family. He is survived by his wife Rohiqa, sons Firoz and Zahan, mother Patsy Mistry, sisters Laila Rustom Jehangir and Aloo Noel Tata and brother <keyword id="844645" type="General" weightage="50" keywordseo="shapoor-mistry" source="Orion">Shapoor Mistry</keyword>. Born on July 4, 1968, Mistry earned a civil engineering degree from London's Imperial College of Science and Technology and a postgraduate degree of Master of Science in Management from London Business School. CPM, as he was fondly known, was a voracious reader and joined the family business in March 1991 as a Director, overseeing the group's construction business. Mistry's entrepreneurial <keyword id="34279" type="General" weightage="50" keywordseo="mindset" source="Orion">mindset</keyword> helped the Shapoorji Pallonji Group achieve many milestones over the past two decades, including one of India's first integrated, project-financed power plants, and the development of India's first biotechnology park. With his vision and eye for detail, he was instrumental in steering the Group from a pure contractor to a 'value-added' player, by developing competencies in allied areas such as EPC and 'Design &amp; Build'. He also envisioned, and oversaw, the evolution of the Group into an end-to-end business group, spanning design and engineering, construction, and asset development, and committed to a journey of lifelong learning across multiple disciplines. Despite his success, Mistry always kept a low profile, away from the limelight, deeply valued righteousness and honesty, and was known for his transparency and integrity in all his business dealings, it said. "He was extremely humble, approachable to all, and always lent a helping hand to the less fortunate. Deeply loved by his family, he was a friend to countless many. We pray that his soul rests in eternal peace," the family said. Mistry's last rites shall be performed at the Worli Crematorium at 11 a.m. on Tuesday. "A friend to many, loved by all. A life well lived," the bereaved family added, requesting "No condolence visits please". The young tycoon Mistry's abrupt departure stunned the country and left the Indian corporate world shocked. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-external-debt-rose-8-2-in-2021-22-to-620-billion/articleshow/94017888.cms">India's external debt rose 8.2% in 2021-22 to $620 billion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/marriage-is-a-sacrament-says-centre-to-sc-in-restitution-of-conjugal-rights-case/articleshow/94017818.cms">Marriage is a sacrament says Centre to SC in restitution of conjugal rights case</a>

Mistry's funeral on Tuesday, family's moving tribute omits Tata stint

Nearly Rs 1,000-crore worth stock of <keyword id="6357585" type="CITY" weightage="20" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (<keyword id="6357150" type="CITY" weightage="100" keywordseo="TCS">TCS</keyword>) are owned by the fired chairman of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>, according to a report by software major's annual. Mistry also owns some percentage in the other companies of the group like <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, Indian Hotels, Tata Global, <keyword id="6354310" type="CITY" weightage="20" keywordseo="Tata-Chemicals">Tata Chemicals</keyword> and <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword>, the report added. Regardless of him being fired as the chairman of Tata Sons, he still is the Chairman of these companies along with some others too. 
 
The stocks that are owned by Mistry is in addition to the 18.5% stake that his family group- Shapoorji Pallonji (SP) Group- owns in Tata Sons. The worth of SP Group’s holding on 1st November was Rs 81,140 crore. 
 SP group also holds Rs 63,158 crore worth of stakes in TCS too and that is a little over three fourth of the total company. The family group of Mr. Mistry also hold a substantial stock like Rs 7,983 crore worth stakes in Tata Motors, RS 1,500 crore worth stakes in Tata Communication, Rs 2,279 worth stakes in <keyword id="237814" type="COMPANY" weightage="20" keywordseo="Tata-Steels">Tata Steels</keyword>, 1,281 crore, Rs 1,281 crore worth stakes in Titan and Rs 1,234 crore worth stakes in Tata Power. 
 
Other than the direct holding in 15 listed companies, Tata Sons has an indirect control over many other companies in which it holds stakes through other companies. 
 <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword> also holds majority stakes in many unlisted companies through Tata Sons, ehich weren’t valued. Thses include <keyword id="6359475" type="CITY" weightage="20" keywordseo="Tata-Teleservices">Tata Teleservices</keyword>, IPO-bound <keyword id="94550" type="CITY" weightage="20" keywordseo="Tata-Sky">Tata Sky</keyword>, Tata AIA <keyword id="6406875" type="COMPANY" weightage="20" keywordseo="life-insurance">Life Insurance</keyword>, Tata AIG General Insurance, Tata Mutual Fund and <keyword id="248221" type="COMPANY" weightage="20" keywordseo="Infiniti-Retail">Infiniti Retail</keyword>. 
(image: Indiatimes)

Cyrus Mistry owns Rs 1,000 crore worth TCS shares

In order to succeed in a volatile business environment, <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Sons+">Tata Sons</a> chairman <a href="http://www.businessinsider.in/searchresult.cms?query=Cyrus+Mistry+">Cyrus Pallonji Mistry</a> has advised leaders of group firms to focus and work on sustaining profitable growth and develop agile businesses. 
 
The chairman requested the leaders to achieve the company’s Vision 2025 and said sustainable profitable growth is the key building block for long term stakeholder value creation, reported the Economic Times. 
 Addressing <keyword id="6355725" type="CITY" weightage="80" keywordseo="Tata-Group">Tata group</keyword>'s annual group leadership conference (AGLC) on Wednesday, Mistry said that the <a href="http://www.businessinsider.in/searchresult.cms?query=conglomerate">conglomerate</a>'s revenues increased 5.3% during 2014-15 to $108.78 billion, or Rs 6,85,314 crore, with international business accounting for 68% of it. 
 
Giving details about they can push the group to achieve the its Vision 2025, which is a quarter of the world's population experiencing the Tata commitment to improving the quality of life of communities and customers, the chairman asked group companies to create an omni-channel marketplace that will integrate store shopping and online buying. 
 For the group to sustain profitable growth and develop agile business amidst a changing world business environment, he advised that it should focus on developing unique consumer insights, diversification of profit pools, creation of <keyword id="388837" type="UNKNOWN" weightage="80" keywordseo="intellectual-property">intellectual property</keyword> rights, deployment of robust <keyword id="444072" type="ORGANIZATION" weightage="60" keywordseo="risk-management">risk management</keyword> processes, creation of financial flexibility to seize opportunities, and minimizing impact on the environment. 
 
In FY15, Tata group invested $10 billion, or about Rs 63,000 crore, and its market <a href="http://www.businessinsider.in/searchresult.cms?query=capitalisation+">capitalisation</a> increased 17% to $134 billion, or about Rs 8,44,200 crore, according to the financial daily. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Digital+">Digital</a> businesses were part of the conference and, according to a statement by the company, over 35 examples from across 19 Tata companies that are successfully harnessing digital capabilities in their strategies were showcased. 
 
A consultant who works with the group said like all other brick and mortar companies, Tata group will have to move towards digital as a channel to reach consumers. 
 
"The transition, however is not going to be easy. However, as the consumer gets comfortable, the company has no other choice," said the person who requested not to be named. According to the company statement, Mistry also highlighted opportunities across the world including those that are "presented by a rapidly growing <keyword id="47445" type="UNKNOWN" weightage="100" keywordseo="Indian-market">Indian market</keyword> whose relative importance in the <keyword id="47890" type="ORGANIZATION" weightage="60" keywordseo="global-economy">global economy</keyword> would substantially increase by 2030". He said Tata companies need to build strategic and organisational agility to steer through these changes. 
 
(Image: Reuters)

Focus on profitable growth, Cyrus Mistry advises Tata companies

New Delhi, Feb 17 () Following are the top business stories at 1825 hours: DEL69 BIZ-RBI-GOVERNOR-INTERVIEWRBI Guv: Govt must continue reforms; green shoots of recovery need to sustainNew Delhi: Reserve Bank Governor Shaktikanta Das on Monday said that on the back of countercyclical measures undertaken by the government, structural reforms need to be continued to revive demand and support the economy. DCM5 BIZ-LD JSW STEEL-NCLAT NCLAT allows JSW Steel to acquire Bhushan PowerNew Delhi: The National Company Law Appellate Tribunal on Monday allowed JSW Steel to acquire Bhushan Power &amp; Steel Ltd for Rs 19,700 crore by providing it immunity from prosecution by the Enforcement Directorate. DEL55 BIZ-AGR-TELCOSTata Group, Voda Idea make part payment towards statutory dues: DoT sourcesNew Delhi: Vodafone Idea and Tata Group have made part payment of about Rs 2,500 crore and over Rs 2,190 crore, respectively, to the telecom department towards statutory dues, a government official said on Monday. DCM46 BIZ-LD MOODYS-INDIA Moody's cuts India growth projection to 5.4 pc for 2020New Delhi: Moody's on Monday slashed India's growth forecast for 2020 to 5.4 per cent from 6.6 per cent projected earlier, on slower than expected economic recovery. DCM56 BIZ-MISTRY-APPEALMistry files appeal in SC; says his family deserved more relief from NCLATMumbai: Less than a month after the Supreme Court stayed an order reinstating him as Tata Sons chairman, Cyrus Mistry has moved the apex court seeking removal of many anomalies in the NCLAT order, saying his family deserved more relief from the tribunal. DEL61 BIZ-LD STOCKSMarket ends lower for 3rd day as macroeconomic worries persist Mumbai: Domestic equities clocked losses for a third session in a row on Monday as worries over economic slowdown and financial impact of coronavirus outbreak continued to play in the minds of investors. DEL14 BIZ-LD AIRTEL-AGR PAYMENTAirtel pays Rs 10,000 crore to govt towards statutory duesNew Delhi: With the government coming down heavily on telcos after the Supreme Court's rap, Bharti Airtel on Monday said it has paid Rs 10,000 crore to the telecom department towards statutory dues. DEL67 BIZ-RUPEE-CLOSERupee rises 8 paise against US dollarMumbai: The Indian rupee appreciated by 8 paise to settle at 71.29 against the US dollar on Monday, helped by some moderation global crude prices. DCM60 BIZ-SEBI-ADVISERSSebi to tighten eligibility norms for investment advisers, fees to be cappedMumbai: With an aim to safeguard investors' interest, markets regulator Sebi on Monday decided to tighten its eligibility norms for investment advisers and decided to introduce an upper limit for their fees.DCM51 BIZ-ECONOMISTS-AGR-DEFICITPayment of AGR dues to bring down fiscal deficit to 3.5% in FY20Mumbai: Payment of adjusted gross revenue dues of Rs 1.20 lakh crore by telcos will reduce the fiscal deficit for 2019-20 to 3.5 per cent of the GDP from the revised estimate of 3.8 per cent of the GDP, economists at SBI said on Monday.DCM28 BIZ-LIC-IDBINo proposal to merge LIC Housing Finance with any other entity: LICNew Delhi: Life Insurance Corporation on Monday said there is no proposal to merge its subsidiary LIC Housing Finance Ltd (LICHFL) with any other entity. SHWSHW

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ASUS on Friday launched all in one Windows computer AiO V241 with dual functionality of PC and display in the Indian market for ₹61,990. According to the company, <keyword id="10999692" type="UNKNOWN" weightage="20" keywordseo="asus-aio-v241">ASUS AiO V241</keyword> aims to enable consumers to meet their computing needs and video conferencing needs met by a PC but also all multimedia content consumption needs such as watching TV, Playing Console Games, Watching <keyword id="1245953" type="COMPANY" weightage="20" keywordseo="OTT">OTT</keyword> Content, Streaming movies etc. on a single device. "The launch of the new All-in-one solutions reestablish our commitment to the Indian market in providing cutting edge technology that can support the future of collaboration, work and play," Leon Yu, Regional Director, System Business Group, <keyword id="669193" type="COMPANY" weightage="20" keywordseo="Asus-India">ASUS India</keyword> and South Asia said in a statement. ASUS AiO V241 comes with <keyword id="28115" type="COMPANY" weightage="20" keywordseo="Intel">Intel</keyword>'s 11th generation Tiger-lake i5 processor along with Intel's latest Iris Xe for better graphics solution. This AiO features 23.8-inch Full-HD NanoEdge display with wide-view technology and a near-invisible 2mm physical bezel[1] design that gives an incredible 88 percent screen-to-body ratio. ASUS AiO V241 boasts a full complement of I/O ports, including four rear-mounted USB 3.2 Gen 1 Type-A ports, offering data-transfer rates that are 10X faster than USB 2.0. And for maximum user convenience, there is also a USB 2.0 port and an audio combo jack located within easy reach, on the bottom edge of the screen. In addition, the company also announced ASUS AiO V222 with a frameless 22-inch Full HD display. Combined with its advanced ASUS SonicMaster bass-reflex speaker system, exclusive ASUS Splendid and Tru2Life Video technologies, ASUS AiO V222 aims to deliver deliciously immersive visuals. The ASUS AiO V222 is powered by up to 10th Gen Intel Core i5 processor for smooth and effortless multitasking performance, improved energy efficiency and enhanced multimedia capabilities. It is available with up to 8GB of fast DDR4 memory. Both models feature support for dual-storage capability, with up to a 1TB HDD and up to a 512GB SSD. SEE ALSO: <a href="https://www.businessinsider.in/politics/elections/news/checkout-the-list-of-bjp-tmc-and-congress-candidate-names-in-first-phase-west-bengal-election/articleshow/81704142.cms">The entire list and exciting facts about the 30 assembly constituencies going to polls in West Bengal on March 27</a> <a href="https://www.businessinsider.in/policy/news/government-mandates-companies-to-disclose-cryptocurrency-holdings-from-april-1/articleshow/81704174.cms">Indian companies will have to disclose cryptocurrency holdings from April 1 – industry insiders welcome decision</a> <a href="https://www.businessinsider.in/stock-market/news/tata-group-stocks-soar-in-trade-as-ratan-tata-prevails-in-the-legal-battle-with-cyrus-mistry-at-indias-supreme-court/articleshow/81703478.cms">All Tata Group stocks soar in trade as Ratan Tata prevails in the legal battle with Cyrus Mistry at India's Supreme Court</a>

ASUS launches all in one Windows AiO V241 with dual functionality PC  in India at ₹61,990

Last year, transport minister Nitin Gadkari said that road accidents are “more serious than the COVID-19 pandemic," and this is corroborated by the data compiled by the National Crime Records Bureau. Over 1.55 lakh lives were lost in road crashes across India just in 2021, says a recent report by the NCRB. So, every day 425 people lose their lives on Indian roads and the recent high-profile death of former Tata Sons chairman Cyrus Mistry has put the spotlight yet again on <keyword id="87280" type="General" weightage="20" keywordseo="road-safety" source="Orion">road safety</keyword>. <div type="image" title="Over 1.55 lakh lives were lost in road crashes across India just in 2021: NCRB" msid="94084328" hostid="261" caption="&amp;lt;p&amp;gt;Over 1.55 lakh lives were lost in road crashes across India just in 2021: NCRB&amp;lt;/p&amp;gt;"></div> The report said that during 2021, two-wheelers have contributed 44.5% of total road accidental deaths (69,240 deaths), followed by cars at 15.1% with 23,531 deaths and trucks or lorries had a 9.4% contribution (14,622 deaths). <div type="image" title="Road accident fatalities have gone up since 2020" msid="94084331" hostid="261" caption="&amp;lt;p&amp;gt;Road accident fatalities have gone up since 2020&amp;lt;/p&amp;gt;"></div> The report also highlighted that overspeeding remains the biggest cause of road accidents—contributing to 56% of the total road crash deaths (87,050 deaths), followed by dangerous or careless driving, contributing to 27.5% of total crash deaths (42,853 deaths). Most of these road accidents in India have happened on national highways. India accounts for about 2% of motor vehicles globally. Yet, it is the <a href="https://www.thehindubusinessline.com/news/india-accounts-for-11-per-cent-of-global-death-in-road-accidents-world-bank/article33834556.ece">home </a>to more than 11% of the world’s road traffic deaths. According to a <a href="https://www.hindustantimes.com/analysis/it-s-time-to-put-an-end-to-india-s-road-safety-crisis/story-FrTmaEoqfKC1EnoryY4nxN.html#:~:text=According%20to%20a%20United%20Nations,rate%20of%2043%20a%20day.">UN study</a>, India loses 3% of its GDP to road accidents by removing prime-age adults from the workforce. Despite the high number of fatalities, in India, people wearing seat belts is a rare sight. While rear seat belts have been mandatory under the Central Motor Vehicle Rules, most kaali peeli taxis don’t even have seat belts for passengers. <div type="image" title="Most kaali peeli taxis don’t even have seat belts for passengers" msid="94084343" hostid="261" caption="&amp;lt;p&amp;gt;Most kaali peeli taxis don&amp;#8217;t even have seat belts for passengers&amp;lt;/p&amp;gt;"></div> Rear seat belts prevent fatality According to the World Health Organisation, the use of rear seat belts can prevent fatality by 25% and injuries by 75%. <div type="image" title="Use of rear seat belts can prevent fatality by 25% and injuries by 75%: NCRB" msid="94084418" hostid="261" caption="&amp;lt;p&amp;gt;Use of rear seat belts can prevent fatality by 25% and injuries by 75%: NCRB&amp;lt;/p&amp;gt;"></div> Reports suggest that Mistry was seated in the back and was not wearing a seatbelt. Now, after Mistry’s demise has sent shockwaves across the country, Gadkari said that even chief ministers don’t follow safety rules. Some ministers even use a clip so that the alarm does not make any sound, said Gadkari, when there is no belt. After the incident, Gadkari also said that the ministry is now working towards making six airbags compulsory in all cars. It was not too long ago, just in February 2022 that the Indian <a href="https://timesofindia.indiatimes.com/auto/cars/govt-makes-three-point-seat-belts-mandatory-for-all-front-facing-passengers-in-car/articleshow/89501540.cms">government </a>had also made it mandatory for automakers to provide three-point seat belts for all front-facing passengers in a car, which is also applicable for the middle seat in the rear row of a car. It is also stated in the rules Motor Vehicles Act 138(3) that fastening seat belts is compulsory for passengers sitting in the front as well as the rear seats. However, India fails to follow the law of its land. As per a 2019 report by SaveLIFE Foundation, less than 1% of people in India use rear seat belts. 37.8% of all the people surveyed didn’t even know that any such legal compulsion existed. While 23.9% of people didn’t even know that rear seat belts existed. The centre has also made it compulsory for all cars to have six airbags across from October 1. After losing his ‘good friend,’ minister Gadkari said that all cars exported out of India have 6 airbags and asked then why Indian cars have only four airbags. What India can learn from other countries In 1997, Sweden adopted a ‘Vision Zero’ policy based on the idea that “no loss of life was acceptable.” The policy did not focus on changing human behaviour, the emphasis was on designing a better system of roads and other infrastructure, vehicle technology and enforcement. On the other hand, Singapore uses advanced warning lights that alert drivers about the upcoming signal and vehicle speed. <a href="https://www.forbes.com/sites/peterlyon/2020/08/27/frightening-consequences-for-drink-drivers-in-japan/">Japan </a>also has a strict policy for drunken drivers. It has a zero percent blood-alcohol level standard for drivers and individuals caught driving under the influence can face imprisonment for up to 15 years. In Switzerland, passengers travelling in the same car as a drunk driver are also considered liable and can lose their own licenses. Apart from strictly enforcing speed limits and other road regulations, Norway has found a unique approach to reduce its fatalities. It has made it mandatory for drivers to always have their headlights on while driving. Safety measures taken by automakers From installing airbags and adding stringent seatbelt alarms to running awareness campaigns, automakers have been trying to up safety for India’s car passengers. Maruti, Hyundai and Tata Motors offer six airbags across some models. Luxury car companies like Mercedes-Benz, Audi and Volvo are also offering six airbags and the number increases on the higher-end models. Safety rules you must follow To stay safe, one must <a href="https://highwaypolice.maharashtra.gov.in/en/road-safety-guideline/#:~:text=Always%20obey%20Road%20safety%20rules,as%20markets%20and%20residential%20areas.">obey </a><keyword id="1501776" type="General" weightage="20" keywordseo="road-safety-rules" source="Orion">road safety rules</keyword> and regulations of India. <ul><li>Look for the traffic signs before you cross signals. </li><li>Drive within the speed limits prescribed. Ideally one should drive at approximately not more than 30 kmph near busy places such as markets and residential areas.</li><li>Keep vehicle oiled and serviced. A sudden breakdown of the vehicle on the road can cause hardships not only to you but also to fellow drivers and traffic personnel. </li><li>Stop or slow down your vehicle and allow the pedestrians to crossroads at unmanned/signalled Zebra crossings.</li><li>Always wear seat belts while driving four-wheelers.</li><li>Avoid rash or negligent driving.</li><li>Do not drink and drive.</li><li>Avoid using mobile phones while driving. In case of an urgent call, park the vehicle to the side of the road and put the brake lights on, and allow other motorists to pass by. </li><li>Turn the brake lights ON before stopping so that the vehicles behind can avoid a collision.</li></ul>Here's a small video <div type="image" title="All you need to know about India’s rules for road safety" msid="94084511" hostid="261" sizebytes="1771684" caption="&amp;lt;p&amp;gt;All you need to know about India’s rules for road safety&amp;lt;/p&amp;gt;"></div>Before we let you go, here's what we want you to know- Business Insider India brings you SaaS Scions, a 6-part video series chronicling Indian SaaS scions - SaaS leaders who have come to define this sector in India. And now for the world. <div type="image" title="Business Insider India brings you SaaS Scions" msid="94084538" hostid="261" caption="&amp;lt;p&amp;gt;Business Insider India brings you SaaS Scions&amp;lt;/p&amp;gt;"></div>

You Searched For "Cyrus Mistry life" and got 9 results

Life and times of Cyrus Mistry – the most low profile man with the most high profile exit

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Cyrus Mistry vs Tata Group – decoding the battle of prestige between India’s most prominent Parsi families

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Ratan Tata moves SC against NCLAT order reinstating Mistry as Tata Sons chairman

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Mistry's funeral on Tuesday, family's moving tribute omits Tata stint

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Cyrus Mistry owns Rs 1,000 crore worth TCS shares

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Focus on profitable growth, Cyrus Mistry advises Tata companies

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ASUS launches all in one Windows AiO V241 with dual functionality PC in India at ₹61,990

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SIMPLY PUT: All you need to know about India’s rules for road safety

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