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<keyword id="20069461" type="General" weightage="20" keywordseo="Noel-Tata" source="keywords">Noel Tata</keyword> - the half-brother of late Rata Tata -who takes over as Chairman of <keyword id="20374010" type="General" weightage="20" keywordseo="Tata-Trusts" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Trusts" meta.hostid="261" meta.entityid="Tata Trusts">Tata Trusts</keyword>, has been with the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir <keyword id="20869864" type="General" weightage="20" keywordseo="ratan-tata-trust" source="keywords">Ratan Tata Trust</keyword> &amp; Allied Trusts, and Sir Dorabji Tata Trust &amp; Allied Trusts -- that hold a controlling 66% stake in Tata Sons, the holding and promoter firm of Tata Group companies. He is a Trustee on the boards of Sir <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword> Trust and Sir Dorabji Tata Trust. His appointment as Chairman of Tata Trusts comes after the death of Ratan Tata late on Wednesday evening, due to age-related health conditions. Son of Naval H Tata and Simone N Tata, Noel Tata currently serves on the board of various Tata Group companies, including as the Chairman of Trent, Tata International Ltd, Voltas &amp; Tata Investment Corporation and as the Vice Chairman of <keyword id="19950204" type="General" weightage="20" keywordseo="Tata-Steel" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Steel" meta.hostid="261" meta.entityid="Tata Steel">Tata Steel</keyword> and Titan Company Ltd. His last executive assignment was as the Managing Director of Tata International Ltd, the trading and distribution arm of the Tata Group, between August 2010 and November 2021. He had overseen the growth of the company from a turnover of $500 million to over $3 billion. Before his stint in Tata International, Noel Tata served as the Managing Director of Trent Ltd, Tata group's retail arm. He played a pivotal role in the growth of Trent across formats, from a one-store operation in 1998 to over 700 stores across formats. A graduate from Sussex University (UK), Noel completed the International Executive Programme (IEP) from INSEAD.

Noel Tata steps in to fill huge shoes of late Ratan Tata, to head Tata Trusts

From the time Sir Dorabji <keyword id="19904884" type="General" weightage="20" keywordseo="tata" source="keywords">Tata</keyword> sponsored a handful of Indian athletes to the 1920 Antwerp Olympics, Tata group has been a constant in India's sporting landscape and the conglomerate's involvement only grew under <keyword id="19981455" type="General" weightage="100" keywordseo="ratan-tata" source="keywords">Ratan Tata</keyword>, who considered sport a "way of life". The chairman emeritus of Tata Sons died here at the age of 86 on Wednesday after being admitted to a hospital on Monday for "age and related medical conditions". His death triggered an avalanche of tributes from eminent personalities from all walks of life and sports was no different. From being the title sponsor of the glitzy Indian Premier League of cricket to supporting lesser-followed sports like archery to owning a football team in the Indian Super League to sponsoring a high-profile chess tournament, the Tata group has been deeply involved with the country's sporting ecosystem. Most of this involvement grew during Ratan Tata's tenure. "He always believed in 'sports is the way of life' and we are happy to carry forward the legacy. We have been the torchbearer of sports with 19 sporting verticals from football, hockey, archery to horse riding, boxing, karate, racket sports. You name it, we have it," an official involved with the JRD Tata Sports Academy, which was inaugurated in 1991 in Jamshedpur, told PTI. The growth in Tata Group's sporting involvement under Ratan Tata was the continuation of a legacy. After all, Sir Dorabji Tata, who played cricket, tennis and football, was the first President of the Indian Olympic Association (1924). This was after he had financed the Olympic appearance of four track-and-field athletes and two wrestlers at the Antwerp Games, helping organise their trials in Pune as well. Tata Steel Chess, which is also called the 'Wimbledon of chess', is a marquee event on global chess calendar, held at <keyword id="20385206" type="General" weightage="20" keywordseo="wijk-aan-zee" source="keywords">Wijk Aan Zee</keyword>, the Netherlands. It wasn't always known that. It was Corus Chess Tournament for the longest time before Tata Steel took over the title sponsor company, thereby claiming the rights of this event from 2007 onwards. Five-time world champion and Indian chess legend <keyword id="20221790" type="General" weightage="20" keywordseo="viswanathan-anand" source="keywords">Viswanathan Anand</keyword> was among the first sports icons to pay tributes to the late industrialist, saying that he "touched all our lives". "It is with profound sadness that we bid farewell to a giant of industry and philanthropy. We received our Padma Vibhushan together, and I was truly touched by his humility and genteel nature," Anand wrote on X. "The chess fraternity owes much to the traditions that are so closely associated with the Tata Group. @tatasteelchess in Holland is an event that made us chess players particularly proud, especially when the Tatas took over Corus, and later starting a new tradition with @tschessindia," he added. "The chess world and I offer our deepest condolences to @RNTata2000, a human being who touched all our lives and always stood for the good of society. Rest in peace," Anand continued. Tata Foootball Academy started back in 1987 under <keyword id="23494114" type="General" weightage="20" keywordseo="russi-mody" source="keywords">Russi Mody</keyword>, the then chairman of Tata Steel, who had the backing of Ratan Tata for the project. The academy has been supplying national level footballers since early '90s with its some of its noted alumni being current All India Football Federation head and former goalkeeper Kalyan Chaubey, Rennedy Singh, Dipendu Biswas and Kiran Khongsai. "TFA has played a pioneering role in Indian football by focusing on nurturing young talent and contributing significantly to the development of football in the country," the official associated with JRD sports complex said. "He (Ratan Tata) was there at the launch of Jamshedpur FC in the ISL in 2017. he interacted with the players and coaches, took photos with them. They also presented him with a signed jersey. He was very happy to see the team coming up and playing in the top tier ISL," he recalled. The enigmatic businessman was there to launch the hockey academy in Jamshedpur in 2019. "...perhaps for the last time he was here," the official said. Hockey India said Ratan Tata will be remembered as a "shining gem". "Your vision and endless contribution to our nation will never be forgotten. Your legacy will forever live with us till eternity. Hockey India pays tribute to one of Modern India's Pioneers - Ratan Naval Tata," it added. The legendary <keyword id="19919207" type="General" weightage="20" keywordseo="sachin-tendulkar" source="keywords">Sachin Tendulkar</keyword> said Ratan Tata's legacy will continue through his foundations. "In his life, and demise, Mr Ratan Tata has moved the nation. I was fortunate to spend time with him, but millions, who have never met him, feel the same grief that I feel today. Such is his impact," <keyword id="20012835" type="General" weightage="20" keywordseo="tendulkar" source="keywords">Tendulkar</keyword> wrote. The Tata Archery Academy in Jamshedpur has been the training ground for ace Indian archers Deepika Kumari and Atanu Das for several years. Given Tata Group's involvement in India's Olympic movement, it was hardly a surprise to see an outpouring of tributes from some of country's top athletes. "I'm very sorry to hear about the passing of Shri Ratan Tata ji. He was a visionary, and I'll never forget the conversation I had with him. He inspired this entire nation. I pray that his loved ones find strength. Om Shanti," posted India's track-and-field Olympic gold-winner, Neeraj Chopra. India's first-ever Olympics medal winner in badminton, <keyword id="20204318" type="General" weightage="20" keywordseo="saina-nehwal" source="keywords">Saina Nehwal</keyword> described him as a great man. "Ratan Tata sir aapki legacy hamesha humare saath rahegi. RIP (sic). (A great man and true visionary. Tata sir your legacy will always remain with us," she said. One of India's greatest spin bowlers and former captain Anil Kumble said, "Mr. Ratan Tata's contribution extends far beyond business. His legacy of giving back to society will continue to inspire future generations. Rest in peace." "An institution who embodied Excellence, Vision and Humility. A Philanthropist par excellence. A massive loss to society. Condolences to the entire Tata family. God bless his soul #RatanTata," wrote former India player and coach <keyword id="19958622" type="General" weightage="20" keywordseo="ravi-shastri" source="keywords">Ravi Shastri</keyword>.

The Tata effect on Indian sports: Ratan Tata's demise mourned by India stalwarts

The Maharashtra government has declared a day of mourning on Thursday (October 10) to honour the late <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>, a towering figure in Indian industry, who passed away on Wednesday night at the age of 86. Tata, celebrated for leading the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> to international acclaim, died at Breach Candy Hospital in Mumbai following a brief illness. In the early hours of Thursday morning, his remains were transported from the hospital to his Colaba residence, accompanied by a police escort. Several prominent figures, including Maharashtra Chief Minister <keyword id="19913631" type="General" weightage="20" keywordseo="Eknath-Shinde" source="keywords">Eknath Shinde</keyword>, Deputy Chief Minister Devendra Fadnavis, Education Minister Deepak Kesarkar, and industrialist Mukesh Ambani, visited the hospital upon learning of his passing. The Maharashtra Chief Minister’s Office confirmed that, as a mark of respect, the state flag would be flown at half-mast on Thursday, and all entertainment activities would be paused for the day. The public will have the opportunity to pay their respects to Ratan Tata at the National Centre for the Performing Arts (NCPA) in south Mumbai, where his body will lie in state from 10 am to 3:30 pm. Tata’s final rites are scheduled to be performed later on Thursday in Worli. Meanwhile, Maharashtra Chief Minister Eknath Shinde announced late Wednesday night that Ratan Tata will be accorded a state funeral. In a post on X, CM Shinde described Tata as a “unique blend of morality and entrepreneurship” and hailed him as a living legend who successfully led the Tata Group, a conglomerate with a 150-year legacy. “Ratan ji Tata’s mortal remains will be accorded a state funeral,” Shinde said as per a PTI report. Praising Tata’s legacy, Shinde said that the industrialist will remain a source of inspiration for future generations of entrepreneurs. He also recalled Tata’s unwavering strength during the 26/11 terror attacks, when the Tata Group’s Taj Hotel in Colaba was one of the primary targets of the 2008 tragedy. “His resoluteness during the 26/11 terror attack will always be remembered,” the Chief Minister added. Tata, born on 28 December 1937 in Mumbai, was the driving force behind the growth of the Tata Group from 1991 until his retirement in 2012. He was also known for his philanthropy, serving as Chairman of the <keyword id="20869864" type="General" weightage="20" keywordseo="Ratan-Tata-Trust" source="keywords" meta.keywordsubtype="org" meta.entityname="Ratan Tata Trust" meta.hostid="261" meta.entityid="Ratan Tata Trust">Ratan Tata Trust</keyword> and Dorabji Tata Trust, two of India’s largest private-sector philanthropic organisations. In 2008, he was honoured with the Padma Vibhushan, the country’s second-highest civilian award. (With PTI inputs)

Ratan Tata to be accorded state funeral, Maharashtra declares day of mourning to honour Tata Group chairman

Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> has expressed deep sorrow over the death of <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>, Chairman Emeritus of <keyword id="19991117" type="General" weightage="20" keywordseo="Tata-Sons" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Sons" meta.hostid="261" meta.entityid="Tata Sons">Tata Sons</keyword>, who passed away on Wednesday evening. In a series of heartfelt posts on X, <keyword id="19899320" type="General" weightage="20" keywordseo="PM-Modi" source="keywords">PM Modi</keyword> shared his admiration for Tata’s leadership, <keyword id="20202027" type="General" weightage="20" keywordseo="philanthropy" source="keywords">philanthropy</keyword>, and enduring impact on Indian society. “Ratan Tata Ji was a visionary business leader, a compassionate soul, and an extraordinary human being,” PM Modi wrote. He praised Tata’s role in steering one of India’s most respected business groups and acknowledged how his contributions extended far beyond the corporate world. “He provided stable leadership to one of India’s oldest and most prestigious business houses. At the same time, his contribution went far beyond the boardroom. He endeared himself to many through his humility, kindness, and unwavering commitment to improving society,” Modi added. The Prime Minister expressed personal grief, writing, “Extremely pained by his passing away. My thoughts are with his family, friends, and admirers in this sad hour. Om Shanti.” Reflecting on his long-standing relationship with the industrialist, PM Modi reminisced about their frequent meetings during his time as Chief Minister of Gujarat, describing the exchanges as enriching. “My mind is filled with countless interactions with Shri Ratan Tata Ji. I would meet him frequently in Gujarat when I was the CM. We would exchange views on diverse issues. These interactions continued when I came to Delhi.” In his tribute, Modi highlighted Tata’s passion for championing social causes. “One of the most unique aspects of Shri Ratan Tata Ji was his passion for dreaming big and giving back. He was at the forefront of championing causes like education, healthcare, sanitation, and animal welfare.” Defence Minister Rajnath Singh also paid tribute to the late industrialist, referring to Tata as a “Titan of <keyword id="20642696" type="General" weightage="20" keywordseo="Indian-industry" source="keywords">Indian industry</keyword>.” In a post on X, Singh said, “Saddened by the passing away of Shri Ratan Tata. He was a Titan of the Indian industry known for his monumental contributions to our economy, trade, and industry.” Tata, born on 28 December 1937 in Mumbai, was the driving force behind the growth of the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> from 1991 until his retirement in 2012. He was also known for his philanthropy, serving as Chairman of the Ratan Tata Trust and Dorabji Tata Trust, two of India’s largest private-sector philanthropic organisations. In 2008, he was honoured with the Padma Vibhushan, the country’s second-highest civilian award.

PM Narendra Modi condoles Ratan Tata's death: 'A visionary business leader and a compassionate soul'

<keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>, the ousted chairman of <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>, has denied filing four caveats against <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword> and <keyword id="290482" type="ORGANIZATION" weightage="100" keywordseo="Dorabji-Tata-Trust">Dorabji Tata Trust</keyword> at the National Company Law Tribunal, according to TV reports. 
 
The denial comes after Tata Sons filed caveats in all courts including the National Company Law Tribunal. 
 
A caveat is filed in courts as a preventive to ensure that courts do not issue any ex-parte orders, and should not hear any matter without allowing the other side to appear. 
 
"There is a risk of a closed-door appeal," said a Delhi High Court lawyer. Mistry could have asked courts to stay further appointment of directors or changes in management, which now the court cannot approve without listening to Tata's arguments. 
 
It was earlier reported that <a href="http://www.businessinsider.in/BREAKING-NEWS-Cyrus-Mistry-files-4-caveats-against-Ratan-Tata-Tata-Sons/articleshow/55050372.cms">Cyrus Mistry filed four caveats </a>at the Companies Law Tribunal a day after he was removed as Tata Sons Chairman. Three of the caveats filed by Mistry were against Ratan Tata, Tata Sons, Sir Dorabji Trusts. The remaining one caveat was filed by Cyrus Investments Pvt Ltd against Ratan Tata and Tata Sons.

Now, Cyrus Mistry denies filing caveats against Tata trusts

Refuting <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>'s allegations of "breakdown" in the governance of trusts managing <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>, the group holding firm said the trusts are governed by individual wills of <keyword id="6422993" type="PERSON" weightage="20" keywordseo="Jamsetji-Tata">Jamsetji Tata</keyword> and his two sons, and accused the ousted Chairman of causing huge financial losses. 
 
Tata Sons, the holding firm for over USD 100 billion conglomerate, said Mistry's statements have caused the group, including the companies where he continues to be the Chairman, "enormous damage and caused considerable financial loss to all shareholders, running into tens of thousands of crores". 
 "The Trusts are governed by the individual Wills of Jamsetji Tata, his two sons, Sir <keyword id="349583" type="PERSON" weightage="20" keywordseo="Dorabji-Tata">Dorabji Tata</keyword> and Sir <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, and other founders. The Trusts have been scrupulously following the mandates set out in the Wills," Tata Sons said in a statement. 
 
That is the reason the different Trusts continue in existence for decades, it added. 
 
Various Tata Trusts of which Ratan Tata is lifetime chairman, owns 66 per cent in Tata Sons, and are all public trusts. 
 
Earlier, stepping up his fight against Tatas and patriarch Ratan Tata, Mistry sought government's intervention to <a href="http://www.businessinsider.in/Cyrus-Mistry-to-shareholders-Tata-Group-is-nobodys-personal-fiefdom/articleshow/55813613.cms">"remedy and repair breakdown" in the governance of trusts managing Tata Sons</a>. 
 Reaching out to shareholders of six <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata group</keyword> firms, where promoters have called EGMs to remove him from their boards, Mistry said, "The Tata Group is no one's personal fiefdom: it does not belong to any individual, not to the trustees of Tata Trusts, not to the Tata Sons directors, and not to the directors of the operating companies. 
 
Refuting the claim, Tata Sons said: "After he became the Chairman of Tata Sons, it is Mr. Mistry who converted the Group into his "personal fiefdom", with his unilateral actions destroying the precious institutional memory of the House of Tata."

Cyrus Mistry caused huge financial loss to group firms, says Tata Sons

New Delhi, Feb 12 () Tata Trusts on Wednesday said its trustees have decided to appoint Srinath Narasimhan as the chief executive of the Trusts with effect from April 1, 2020. Currently, Narasimhan is the managing director of Tata Teleservices Ltd and Tata Teleservices (Maharashtra) Ltd, Tata Trusts said in a statement. Having joined the Tata Administrative Services (TAS) in 1986, Narasimhan has held various assignments in the Tata group, including as the managing director of Tata Communications Ltd, it added. The trustees also appointed Pramit Jhaveri, former chief executive officer of Citi India and former vice chairman of banking, capital markets and advisory for Asia Pacific, as a Trustee of the Sir Dorabji Tata Trust. His appointment is effective from February 12, 2020, it added. Tata Trusts hold 66 per cent of the equity share capital of Tata Sons, the principal investment holding company and promoter of Tata companies. Started in 1892, Tata Trusts support education, health, livelihood generation, and art and culture through its various philanthropic initiatives. RKL RUJ

Srinath Narasimhan appointed as Tata Trusts' chief executive

There are so many things that one can learn from <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword>, and the art of keeping employees motivated is one of them. On Friday, the <a href="http://www.businessinsider.in/ratan-tata-is-not-stepping-down-from-tata-trusts-rubbishes-reports/articleshow/56018782.cms">chairman of Tata Trusts</a> called all employees of the Tata group "inheritors and custodians of the Trusts" and of its "belief in making a sustainable change" in society. 
 The <keyword id="123235" type="COMPANY" weightage="100" keywordseo="Charitable-Trust">charitable trust</keyword> owns 66% of <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>, which is the holding entity of all companies controlled by the conglomerate that deals in a variety of interests, ranging from salt, cars, technology and steel. 
 
Also read: <a href="http://www.businessinsider.in/jlr-unveils-range-rover-velar-thanks-ratan-tata-for-showing-faith/articleshow/57430509.cms">JLR unveils Range Rover Velar, thanks Ratan Tata for showing faith</a> 
 
"You bring your zeal, your vigor, your integrity and most importantly your hard work. It is because of you that we can derive and obtain the opportunity and the privilege to serve our community and through that, our nation," Tata wrote in a letter on the occasion of the 178th birth anniversary of Tata Trusts founder Jamsetji Nusserwanji Tata. It’s also the 125th year of the philanthropic organization. 
 
It was in 1892 that Tata Trusts was set up, in the form of the JN Tata Endowment, followed by Sir Ratan Tata trust in 1919, Sir Dorabji Tata Trust in 1932, the JRD Tata Trust in 1944, the Navajbai Ratan Tata Trust Jamsetji Tata Trust in 1974 and lastly, the Tata Education and Development Trust in 2008. 
 
The trust deals in healthcare, water, rural upliftment, energy, education, relief, rehabilitation and individual grants, and boasts of the creation of institutes such as the Indian Institute of Science, Tata Memorial Hospital, Tata Institute of Social Sciences and the National Centre for the Performing Arts, all reputed names in their respective fields. 
 However, only recently it was in the news because of former Tata Sons chairman <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> <a href="http://www.businessinsider.in/war-intensifies-cyrus-mistry-is-going-to-challenge-chandrasekarans-appointment-as-tata-sons-chairman/articleshow/56642005.cms">questioning its governance structure</a> and ambit of power. It was October 24, 2016 that Mystry was <a href="http://www.businessinsider.in/cyrus-mistry-removed-as-tata-sons-director/articleshow/57003221.cms">ousted from his post</a>, which led to the feud. 
 
Four months later, on February 21 2017, <a href="http://www.businessinsider.in/this-is-how-new-chairman-chandrasekaran-is-going-to-enhance-operational-expertise-at-tata/articleshow/57307123.cms">N. Chandrasekaran</a> was appointed the <a href="http://www.businessinsider.in/N-Chandrasekaran-takes-charge-as-Tata-Group-Chairman-this-is-what-he-said-after-taking-over-the-reins/articleshow/57267209.cms">new chairman</a> of the Tata group. Chandrasekaran had earlier served as the <a href="http://www.businessinsider.in/chandrasekaran-moving-out-of-tcs-may-be-alarming-for-most-profitable-it-company/articleshow/56564074.cms">CEO of TCS</a>. 
 
Chandrasekaran also wrote a letter of encouragement to his employees, saying that higher shareholder value and business performance can be achieved if the conglomerate focuses relentlessly on customers and use innovation to reinvent its businesses. 
 
(Image source: Garavi Gujarat)

Ratan Tata calls Tata employees inheritors and custodians of Tata Trusts

Brace up for a big court battle as <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> filed four caveats at the Companies Law Tribunal, a day after he was removed as Tata Sons Chairman. 
 As per various reports, Mistry, 48, filed three caveats against <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Tata Sons, Sir Dorabji Trusts. 
 
The remaining one caveat was filed by Cyrus Investments Pvt Ltd against Ratan Tata and Tata Sons. 
 
Mistry has roped in two senior lawyers from law firm Shardul Amarchand Mangaldas for the same. 
 Earlier in the day, <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword> filed caveat in Supreme Court, Bombay High Court and Companies Law tribunal to prevent Mistry from getting ex-parte order against his sacking. 
 
Meanwhile, Tatas have roped in Harish Salve, Abhishek Manu Singhvi and Kapil Sibal, who met and discussed all possibilities. 
 
After Mistry was removed by the board, Mistry protested and Shapoorji Pallonji termed the move as illegal. They are going to challenge the decision in Bombay High Court.

Cyrus Mistry files 4 caveats against Ratan Tata,
Tata Sons

Days after <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> was removed as the Chairman of Tata Sons, a trustee of low-key charitable trusts that own Tata Group broke his silence on the board’s decision. 
 VR Mehta, who is a member of Sir Dorabji <keyword id="490701" type="ORGANIZATION" weightage="100" keywordseo="Tata-Trust">Tata Trust</keyword> and other group of charities, said Tata Group's sagging financials was the prime reason behind removal of Cyrus Mistry. 
 
Mehta, in an <a href="http://www.ndtv.com/india-news/cyrus-mistry-breached-tata-ethics-the-real-owners-of-tata-group-break-their-silence-1479045?pfrom=home-lateststories">interview to NDTV</a>, said under Mistry’s leadership, the entire Tata Group was dependent on only two companies - <keyword id="6357585" type="CITY" weightage="20" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> and JLR (Jaguar Land Rover). 
 
Mehta said downsizing of the philanthropic activities of the trusts was unacceptable to them. 
 
He said Tata Group’s ethos was getting diverged under Mistry's watch, specifically the legal battle in which the Tata's found themselves against their telecom partner, DoCoMo. 
 
It is a battle the Tatas eventually lost, and now face a hefty 1.2 billion dollar penalty. 
 
"It (the DoCoMo case) doesn't fit with the philosophy and ethos of Tatas. Issues could have been dealt with more finesse,” Mehta told NDTV. 
 
"After the regime changed, Mr (Ratan) Tata remained as the Chairman of the Trusts and Mr Mistry the Chairman of Tata Sons. There was no link (between the Trust and Tata Sons). Mr Tata and Mr Mistry used to meet and talk but somehow the concerns (of the Trusts) did not get adequately addressed," Mehta told NDTV. 
 
(Image: Reuters)

Top member of Tata Trust reveals real reasons why Cyrus Mistry was fired

The bitter feud between <a href="http://www.businessinsider.in/searchresult.cms?query=Cyrus+Mistry+&amp;sortorder=effectivedate">Cyrus Mistry </a>and <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+group+&amp;sortorder=effectivedate">Tata group </a>has been in the headlines for quite sometime. Mistry may now challenge the power of Tata Trusts to influence business decisions at <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword>. 
 The trust, which is controlled by <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, owns nearly two-third of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> and the rest is owned by Mistry family's <a href="http://www.businessinsider.in/searchresult.cms?query=Shapoorji+Pallonji+group.+&amp;sortorder=effectivedate">Shapoorji Pallonji group. </a>This has led to concerns about the governance structure of the trusts. 
 
"A charitable trust is allowed to hold investments but cannot directly be involved in business plans. It is about institutionalising a role and ensuring proper governance. The chairman of Tata Sons and Tata Trusts should be different, so that nobody has unbridled power," an executive close to Mistry told ET. 
 
The trust, however, said that it doesn’t interfere with day to day activities of Tata Sons but need certain information to make sure that the investments are safe. 
 
"We don't interfere with the day-to-day governance of Tata Sons. There is certain information we require from Tata Sons to make sure our investments are safe as it the primary source of our philanthropic operations," said VR Mehta, a trustee on the Sir Dorabji Tata Trust. 
 
A few months before Mistry's ouster, directors on the nomination and remuneration committee (NRC) of Tata Sons - Ronen Sen, Vijay Singh and Farida Khambhata - said at a board meeting that it may be desirable to seek legal opinion on the interplay of relevant entities such as Tata Sons, Tata Trusts and group companies. 
 
Mehta also said when Mistry over as the chairman of Tata Sons, a pact was signed between the holding company and the Tata Trusts clarifying the relationship between the two. 
 
However, people close to Mistry have denied the existence of any such agreement. 
 
Public trusts are usually barred from holding shares of commercial business by the Maharashtra Public Trusts Act's 1973 amendment. They are allowed to invest in banks and postal savings accounts and can otherwise lose tax exemptions. 
(image: IndiaTimes)

Cyrus Mistry may drag Tata Trusts to court, challenge its power to influence business decisions

The battle between <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> and Cyrus Mistry is not going to end soon as it is just getting murkier. Now, Mistry has dismissed accusation levelled by Tatas that he acted on his own regarding the Docomo deal, without informing the Tata Board. 
 Mistry, in a statement, said it was 'false and mischievous' to suggest that he acted on his own or without the knowledge of <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> on the Tata-Docomo matter. 
 
“Insinuations that Docomo issue was handled in a manner inconsistent with Tata culture and values are baseless,” the statement from Mistry’s office read. 
 
Mistry said all the decisions regarding the Docomo deal was taken after the approval of Ratan Tata and Tata Sons Board. 
 
" The suggestion that Ratan Tata and the trustees would not have approved of the manner in which the litigation was conducted is contrary to what transpired," the statement said. 
 
Stating that a number of discussions on the Docomo situation had been held in the Tata Sons board, the statement added: "Mistry had always mentioned that the Tatas should honour all commitments within the law. This stance is based on Tata Sons' board view and was always consistent with the series of board meetings in which the Docomo issue was discussed." 
 
Tata Group is entangled in a legal tussle with Japanese firm, NTT DoCoMo. DoCoMo had in November 2009 acquired 26.5 per cent stake in Tata Teleservices for about Rs 12,740 crore (at Rs 117 per share) with an understanding that in case it exits the venture within five years, it will be paid a minimum 50 per cent of the acquisition price. 
 
DoCoMo, in April 2014, decided to exit the joint venture that struggled to grow subscribers quickly and sought Rs 58 per share or Rs 7,200 crore from the Tatas. 
 
But the Indian group offered Rs 23.34 a share in line with RBI guidelines that states that an international firm can only exit its investment at a valuation "not exceeding that arrived at on the basis of return on equity". 
 
The Japanese firm then dragged the Tatas to international arbitration where it won a $1.17 billion award. 
 
"Nevertheless, the Tatas applied to RBI for approval. Since RBI approval was not forthcoming, Docomo initiated arbitration. The award was passed in favour of Docomo and against the Tatas," the statement added. 
 
Tatas did not challenge the award in the UK. On the contrary, RBI was approached once again by the Tatas for permission to pay the amount awarded. RBI again refused permission, the statement said. 
 
"When Docomo sought enforcement of the award in the Delhi High Court, in order to show their bonafides, Tatas deposited a sum in excess of Rs 8,000 crore in court," it added. 
 
Insisting that Tata and NA Soonawala, Trustee, were kept informed throughout the process, the statement said they even participated in separate meetings held with Mistry. 
 
"They also participated in the meeting with the legal counsel (who also happened to be a trustee of the Dorabji Tata trust) and who represented Tatas in the litigation. At all times, Ratan Tata and Soonawala concurred and approved the course of action adopted by the Tatas and as advised by legal counsel," it said. 
 
"In light of the above facts, to suggest that Mr Mistry acted on his own, or contrary to 'Tata values', or without the knowledge and/or concurrence of Ratan Tata and Soonawala is as false as it is mischievous," the statement by his office added.

Mistry’s war of words with Tatas escalates; says 'mischievous' to suggest he acted on his own on Docomo deal

Cyrus <keyword id="6391150" type="PERSON" weightage="100" keywordseo="Mistry">Mistry</keyword>’s tenure at Tata has come to an abrupt end making it the shortest tenure at Tata. Mistry belongs to <keyword id="667514" type="UNKNOWN" weightage="100" keywordseo="Shapoorji">Shapoorji</keyword> Pallonji, which is the single largest shareholder in <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> with 18.4 per cent stake. Shapoorji and <keyword id="631349" type="ORGANIZATION" weightage="100" keywordseo="Pallonji-Group">Pallonji Group</keyword>, the majority shareholder in the <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword>, has termed Cyrus Mistry's ouster from Tata Sons as illegal. It said it will contest the move, adding that the decision to remove Mistry was not unanimous. This was confirmed by senior lawyer Mohan Parasaran. 
 About 66 per cent of the equity capital of Tata Sons is held by philanthropic trusts endowed by members of the Tata family. The largest of these trusts are the Sir Dorabji Tata Trust and the Sir <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> Trust, which were created by the families of the sons of Jamsetji Tata, the Founder. 
 
Out of the nine board members, 8 members voted. Six voted for Mistry's ouster and two abstained, according to ET Now. The committee will include Ratan Tata, Ronen Sen, Venu Srinivasan, Amit Chandra. The decision has been taken after the board meeting today. There were no reasons given for the change of leadership of the man who was brought in with much fanfare but it is believed that Tata Sons was unhappy with Mistry's approach of shedding non¬profit businesses, including the conglomerate's steel business in Europe, and concentrating only on cash cows. Also Read: Was Tata Sons unhappy with Mistry's approach of focusing only on cash cows? "Tata Sons today announced its board has replaced Mr Cyrus P Mistry as Chairman of Tata Sons. The decision was taken at a board meeting held here today," a Tata Sons statement said

Shapoorji and Pallonji Group calls Mistry’s ouster “illegal”, to contest decision

New Delhi, Apr 1 () Ed-tech platform upGrad on Wednesday said it has appointed Arjun Mohan as its chief executive officer for India operations. The position of the CEO - India at upGrad was unoccupied since its inception. "Mohan brings with him a rich understanding of the online education space, the evolving consumer landscape and keen business acumen," upGrad co-founder and MD Mayank Kumar said. Mohan is Byju's former Chief Business Officer (CBO). He brings over a decade of experience in the edtech sector and was one of the early employees of Think and Learn (which runs Byju's), the statement said. Prior to Byju's, he has worked with Titan Industries, Tata Motors, Tata Realty and Infrastructure Ltd (TRIL) and Sir Dorabji Tata and Allied Trusts. "The current environment (because of COVID-19) is a net positive for online education. We have witnessed a rise in our leads with a spike of 50 per cent, more than the usual. As we march forward and create new business benchmarks, we are excited to introduce the dynamic changes into our system to revitalise our success story," Kumar said. Founded in early 2015, upGrad offers online programs in the areas of Data Science, Technology, Management and MBA to working professionals. It has over 21,500 paid learners. Its programs are designed and delivered in collaboration with universities like IIT Madras, IIIT-B, BITS Pilani, MICA, NMIMS Global Access, Duke CE, Deakin University, Liverpool John Moores University and others. SR SHW ANSANS

You Searched For "Dorabji Tata" and got 14 results

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Mistry’s war of words with Tatas escalates; says 'mischievous' to suggest he acted on his own on Docomo deal

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Shapoorji and Pallonji Group calls Mistry’s ouster “illegal”, to contest decision

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upGrad appoints former Byju's exec Arjun Mohan as India CEO

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