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Amid the clamour to remove <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> from boards of <keyword id="3783705" type="UNKNOWN" weightage="20" keywordseo="Tata-group-companies">Tata group companies</keyword> grew, <keyword id="6467042" type="COMPANY" weightage="20" keywordseo="Tata-Industries">Tata Industries</keyword> removed him as director at the EGM. 
 <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> has made several appeals to companies to remove Mistry as director, saying his presence will lead to fragmentation of the Tata Group. 
 
The tussle between Mistry and Tatas continues and many letters have been publicised, in which both the parties has levelled charges against each other. 
 
Meanwhile, Mistry has defended his case many a times, giving out reasons on why he should not be sacked.

Tata Industries removes Cyrus Mistry as Director

<a href="http://www.businessinsider.in/Tata-Group-under-scrutiny-Apex-body-of-Chartered-Accountants-looking-at-alleged-accounting-irregularities-at-Tata-companies/articleshow/57150133.cms">Tata Group</a> is exploring its entry into ready-to-eat food industry. The industry is presently dominated by companies like <a href="http://www.businessinsider.in/ITC-is-selling-its-stake-in-King-Maker-Marketing-for-24-million/articleshow/54780461.cms">ITC</a>, MTR and Patanjali. <a href="http://www.businessinsider.in/Tata-Industries-removes-Cyrus-Mistry-as-Director/articleshow/55936242.cms">Tata Industries</a>, its holding company for new-age businesses, will be looking at manufacturing and marketing vegetarian, non- vegetarian, non-alcoholic, carbonated and non-carbonated food products. Even though the company has confirmed the development, the project is still in experimental stages and may or may not evolve into a business later on. "Market opportunities we see are at the intersection of consumer preferences, especially millennials, for recipes in a convenient and quick format. The conventional domestic ready-to-eat market is too small currently to be seen as a standalone market opportunity," a <a href="http://www.businessinsider.in/Ratan-Tata-just-applauded-the-judiciary-system-in-India-Heres-why/articleshow/58324986.cms">Tata</a> Industries spokesperson told <a href="http://economictimes.indiatimes.com/news/industry/cons-products/food/tata-group-explores-ready-to-eat-food-market/articleshow/58617541.cms">ET</a>. The Indian ready-to-eat market has over a dozen existing players, with several more queued up for later, because of the large base of young consumers, a majority of country’s workforce. <a href="http://www.businessinsider.in/Its-official-Cyrus-Mistry-resigns-from-all-Tata-group-companies/articleshow/56067501.cms">Tata Group</a> already exists in foods and beverages industry via its companies like Tata Chemicals and Tata Global Beverages.

Tata Group to enter ready-to-eat food industry

As <keyword id="6357150" type="CITY" weightage="20" keywordseo="TCS">TCS</keyword>, shareholders of <keyword id="6359475" type="CITY" weightage="100" keywordseo="Tata-Teleservices">Tata Teleservices</keyword> united against ouster of <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> as a director of the telecom company. 
 Now, Mistry is not on board of <keyword id="6467042" type="COMPANY" weightage="20" keywordseo="Tata-Industries">Tata Industries</keyword>, Tata Consultancy Services and Tata Teleservices. 
 
Tata Teleservices said Mistry ceased to be a director and consequently chairman of the company with immediate effect. The ordinary resolution was passed unanimously. 
 The ouster of Mistry as director was expected. “Promoters <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> and NTT Docomo own 36.17% and 26.5%, respectively, for a total of 62.67%. 
 “Tata Teleservices, like TCS, entails a supermajority ownership by the <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword> currently under the control of <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>,” people close to Mistry told ET. 
 
“Although Docomo representatives were present, the issue wasn't brought up in the EGM since the matter is sub judice,” Sivasankaran. Hidetada Hayashi and Katsuhiko Yamagata represent Docomo on the board told ET. 
 
Docomo exited Tata Teleservices due to financial struggles started by the latter. When Docomo purchased its stake in Tata Tele in 2009 for about Rs 12,740 crore, the two sides had agreed that it would get a minimum of 50% of its investment if the Japanese company exited within five years. However, the Reserve Bank of India said the option was invalid and payment for Docomo's stake would have to be made at fair market value. The imbroglio then took a legal turn, with Docomo filing for international arbitration and winning an award of $1.17 billion. 
 
Docomo has since moved a local court to implement the award. In order to show their bona fides, the Tatas deposited a sum of more than Rs 8,000 crore in court.

Now Tata Teleservices Board removes Cyrus Mistry as director

The first <keyword id="6358815" type="COMPANY" weightage="100" keywordseo="tech">tech</keyword> product of Tata would be rolled out soon. <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>' Group Technology and Innovation Office (GTIO) is targeting to rollout the first of the four high-tech products it is working on in the next two years, a top official told PTI. "All the projects that we undertake will take three to five years from start to finish... You will see a rollout in the next two years," Tata Sons' Group Technology Officer Gopichand Katragadda told PTI. 

	He said GTIO is working on four specific products – a smartwatch for industrial workers being tested on Tata Steel's workforce, a drone-based pesticide spraying system, a factory and fleet analytics system, and an advanced material called graphene.
 

	The salt-to-software conglomerate is the biggest spender on research and development among the large companies in the country. Last year, it had spent 2.7 per cent of its USD 110 billion revenue on R&amp;D and innovation. Elaborating on the products, he said graphene will take longer (about five years) before it is launched because of the higher degree of complexities involved.
 

	The incubation of these products is being done by GTIO at Technology Development Centre at Bengaluru, which Katragadda described as an independent facility which supports collaborative working. GTIO has drawn people from group companies to work on each of these four products, he said, adding Tata Sons has provided system integrators and chief engineers.
 

	Three of the four product teams have ten people each, one is working together physically out of Bengaluru, while one team is collaborating virtually, he said. "It is definitely an experiment. It is a different experiment of bringing really large companies into a new working model together," Katragadda said.
 

	When it comes to the way forward for the products, he cited the case of the smartwatch where GTIO has already asked its team to create a business plan wherein it will operate as a startup. "You sweat like a startup entrepreneur to create success with the minimum amount of resources, but when you hit certain milestones, you will get a lot of attention and that attention will help you get a large company to invest.
 

	But you have to earn it," Katragadda said. He, however, said the work being done by GTIO is not business incubation per se but technology innovation. "When you are doing business incubation, the tech risk has been retired. We are in an area where the tech risk is not retired. GTIO is in the business of identifying those risks which are worth taking and retiring the technical risks.
 "Once the technical risks are retired, we will try to find an avenue to incubate the business. The fun part of it is that you get to work with latest technologies in an environment where there is a lot of creative freedom," he said. Till now, the group had a separate vehicle in <keyword id="6467042" type="COMPANY" weightage="100" keywordseo="Tata-Industries">Tata Industries</keyword> to spot and incubate new business ideas, but did not have a system where technologists worked on new products, he said. 
	 
	(Image credits: indiatimes)

Tata's first tech product will be rolled out in 2 years

How many companies value the contributions of not just the employees, but even their parents? Not many. But <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> is one such exception. Today, the nation mourns the loss of <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>, the much-loved Chairman Emeritus of <keyword id="19904884" type="General" weightage="20" keywordseo="tata" source="keywords">Tata</keyword> Sons. Known for his visionary leadership and kind heart, Ratan Tata played a key role in making the Tata Group a global name, while always staying true to his values of honesty and compassion. The legendary industrialist might no longer be with us, but his legacy, in form of Tata industries, lives on. Some former <keyword id="20050933" type="General" weightage="20" keywordseo="Tata-Cliq" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Cliq" meta.hostid="261" meta.entityid="Tata Cliq">Tata Cliq</keyword> employees told Business Insider India in a candid chat how Ratan Tata’s legacy could be felt in the work culture. Even though these employees never had a chance to interact with the Tata Group chairman face to face, they could feel his values imbibed in the company. One of these employees shared how her parents received a letter that thanked them for their efforts when she joined the company. Another former Tata Cliq employee said that she was ‘heartbroken’ when she came to know about Ratan Tata’s passing. <h2>“My parents received a letter thanking them” </h2> Bharti Chhikara, who worked with Tata Cliq as an Assistant Category Manager for over three years, says it was heartwarming when her parents received a letter from the company at the time of her joining. “My parents received a letter from the CPO of Tata Cliq at that time, thanking them for their efforts and sacrifices in supporting me. It was an emotional moment for the entire family. This reflects the kind of culture that the organisation owned by Ratan Tata imbibes. The respect and consideration that Tata Group has for its employees is unmatchable,” she said. Talking about how the loss of Ratan Tata feels personal, the ex-Tata Cliq employee added, “The news of Mr. Ratan Tata's passing feels like a deeply personal loss. Having had the privilege to work at a Tata company, I witnessed firsthand the incredible work culture and ethics he championed. His vision fostered an environment of respect, humility, and a deep sense of purpose, where doing good for society was just as important as driving business success. He will forever be remembered as an iconic leader who set the highest standards for leadership and humanity.” <h2>“My team valued creativity and also upheld Ratan Tata’s principles”</h2> Sreyashi Ghosh, who joined Tata Cliq in 2020 and worked there for two years as a copywriter, says that her team valued creativity and also focused on the principles that Ratan Tata championed. She also said that getting to know about Ratan Tata’s death was “heartbreaking” and his leadership has “left an indelible mark on the Tata Group.” “Working in such an environment, where integrity, transparency and community support are prioritised, was a rewarding experience. Ratan Tata’s legacy will continue to inspire us all, reminding us of the importance of doing business with a heart and a sense of responsibility,” she added. <h2>“Ratan Tata inspired me, I carry his values” </h2> Rachit Tandon, who worked at Tata Cliq for two years as a category manager, says that he was “deeply saddened” to hear about the industrialist’s demise. He added that Ratan Tata was a leader whose values inspired him. He proudly says that he will carry Tata’s values with him as he moves forward in his life. He said, “During my time at Tata CLiQ, I experienced firsthand the remarkable work culture that reflects Ratan Tata's principles of integrity, respect, and innovation. It was a privilege to be part of an organisation that not only prioritises excellence but also cares deeply for its employees and communities. I am grateful for the opportunity to work within a framework that embodies Ratan Tata's legacy, and I will carry those values with me as I move forward. His impact will be felt for generations to come.”

‘My parents received a letter thanking them when I joined’: Ex-Tata Cliq employees recall Ratan Tata’s company culture

<ul><li><keyword id="1402053" type="General" weightage="20" keywordseo="ashok-vaswani" source="Orion">Ashok Vaswani</keyword> is a Stanford graduate who is also a CA, CS and did his Bachelors at Sydenham College of Commerce.</li><li>Vaswani worked with <keyword id="44473" type="General" weightage="20" keywordseo="citigroup" source="Orion">Citigroup</keyword> and more recently, at <keyword id="6386585" type="General" weightage="20" keywordseo="barclays" source="Orion">Barclays</keyword>, where he built and grew the business to a scale.</li><li>Vaswani is obsessed with technology but also focused on earning the trust of his consumers.</li><li><keyword id="45051" type="General" weightage="20" keywordseo="uday-kotak" source="Orion">Uday Kotak</keyword> has roped in an outsider given the extent of the transformation that <keyword id="46013" type="General" weightage="20" keywordseo="kotak-mahindra-bank" source="Orion">Kotak Mahindra Bank</keyword> will need in times to come when banks will have to fight for wallet share of consumers. </li></ul>Today, you don’t need to step into a bank to make payments, check your balance or even request for a cheque book. That is if you still use those booklets. Since your bank’s mobile app allows you to do all this and much more online, can there be more digitisation in banking? Well, the new CEO of Kotak Mahindra Bank Ashok Vaswani thinks that a lot more technology can be deployed in banks. As the CEO of Barclays Bank UK, Vaswani knows how the lives of consumers can transform with digitisation. He is also cognisant of the fact that a bank does not only cater to millennials or GenZ population. At Barclays, he had a team of tech experts to help consumers who were even in their 1990s such that they could learn not just digital banking but even chat with grandkids on Skype or Zoom. That is how the new CEO of Kotak Mahindra Bank thinks, given that his head and heart are in the right place. At a time when banks are struggling to keep consumers happy while maintaining high profit margins, Vaswani could well be the man who can plug the gaps. And, if there’s something he can talk about for hours, it is the technological transformation of financial services. Not only is he cognisant of the ease that digital banking brings, but also the risk that comes along with it. This generational shift at India’s fourth largest private bank in India clearly wants to up its game in the years to come by leveraging technology to transform not only its operations but also create new and better services for its customers. Imagine an AI Bot that actually tells consumers every month on how spending on eating out is much more than feasible or that average monthly savings are not good enough when you retire. Yes, Vaswani believes that is the next stage of banking as it can open up different ecosystems. In an interview a few years ago at the University of West England, Bristol, he said: “I would submit that a lot more digitisation can happen. Why would I not be able to tell you, you are earning so much, you are spending this much and you should be saving. Can you imagine, you spent so much money on Uber and that you should be careful?” There are so many aspects of digital transformation that limits are frankly only set in the mind. As the CEO of Barclays UK, he has not just built a lot of products for consumers but even their confidence in the bank and the banking system. It is a refreshing change to hear a CEO talk about confidence in the company and not just on margins. Vaswani has a proven track record spanning three and a half decades across the world’s leading banks. He was initially at Citigroup and more recently, at Barclays, where he built and grew the business to a scale. He brings with him significant executional experience with a high degree of compliance and industrial strength across corporate and consumer businesses. Vaswani was Chief Executive Officer of Barclays Bank, UK and subsequently CEO of their global consumer, private, corporate and payments businesses and Member of the group executive committee. Earlier, he was CEO Citigroup Asia Pacific and Member of the Citigroup Global Operating Management Committees. He also built and ran various country and regional businesses across geographies. What makes him interesting is that he has not only run global banks but has even been president of Pagaya Technologies, a US-Israeli AI fintech company. This kind of exposure makes him a much better candidate than any insider at Kotak Mahindra Bank. At last count, there were three top contenders for the job, but Uday Kotak has roped in an outsider given the extent of the transformation that the bank will need to undertake to remain relevant in the face of competition from other fintechs. Ashok is married to Veena and their daughter is working in the United States of America. It is interesting that Uday Kotak, first generation founder and promoter of Kotak Mahindra Bank, has brought in an outsider to run the bank. Organisations typically are wary of bringing in outsiders at top jobs mostly because of the friction that results from such hiring due to cultural fitment and acceptance of a known candidate. It is easier for the rank and file to accept an insider rather than an outsider but Uday Kotak has chosen to take the risky route. While in some unfortunate cases like Infosys, where Vishal Sikka did not fare too well when promoters stepped away in 2014, the experiment of outsiders has been rather successful at the Tata Group. When Ratan Tata took over the reins at the Tata Group, he brought in Kishor Chaukar who came from ICICI Securities to head Tata Industries. Ravi Kant came in from Philips India in 1999, and headed commercial vehicles for Tata Motors before becoming MD in 2005. In 1998, the then vice-chairman of Hindustan Lever (now known as Hindustan Unilever), moved to Tata Sons as executive director. Typically, Indian corporations bring in overseas talent when they believe that the requisite skills are not available in India. But given that India’s private banking sector has grown and flourished under the stewardship of homegrown talent, this shift is an interesting move by Uday Kotak, who clearly sees merit in Vaswani’s experience outside of India. No wonder Uday Kotak, Founder and Director, Kotak Mahindra Bank said: “I am proud that we bring a ‘Global Indian’ home to build Kotak and India of tomorrow.” Interestingly, Ashok Vaswani is a Bachelor of Commerce, Economics and Accountancy, from the Sydenham College of Commerce and Economics (Bombay University), CA from the Institute of Chartered Accountants of India, CS from the Institute of Company Secretaries of India and Executive Education from the Stanford University Graduate School of Business. Uday Kotak too is alumnus of Sydenham College and has a postgraduate degree in management studies in 1982 from Jamnalal Bajaj Institute of Management Studies.

The CEO who believes that there’s a lot more to digitise at banks

<keyword id="6696712" type="General" weightage="20" keywordseo="K-Krithivasan" source="Orion">K Krithivasan</keyword>, chief executive officer-designate of the country's largest software services major <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>, on Friday said the company doesn't have a culture of making radical strategic changes when it gets a new chief and sounded sanguine about doubling down on customer deliveries. The USD 25-billion software giant in a surprise announcement on Thursday said Rajesh Gopinathan, its CEO for more than six years with over four years left to his second five-year term, has decided to move on from September 15. The IT major also said that Krithivasan, president of its BSFI vertical which contributes 31.5 per cent of its top-line, will head the company as the CEO-designate with immediate effect. Gopinathan, 52, said this is his first resignation and he has not written a resume since the campus days as he joined Tata Industries 27 years ago from the campus and TCS 22 years ago. He did not reveal his plans after September 15. The sudden departure of Gopinathan did not make much of an impact on the TCS counter. On the BSE, the scrip opened at Rs 3,151 after it had closed at Rs 3,184.75 on Thursday. After touching an intra-day high of Rs 3,194, the stock was down 0.62 per cent to Rs 3,165. The market valuation of TCS, a key constituent of Sensex, stood at Rs 11,58,419.07 crore on the BSE. On the NSE, the company was down 0.47 per cent to Rs 3,169.90. It had opened at Rs 3,150.50 after ending the day at Rs 3,185 on Thursday. "Our core principle has been and will continue to be working for and with our customers and that will continue under me. I don't expect or you (media) should expect, any great strategic changes under me," 58-year-old Krithivasan told reporters through video-conferencing on Friday. Outgoing CEO Gopinathan was also present in the video conference. "In fact, TCS does not have a culture of making radical strategic changes when it gets a new CEO. We will continue as we have been -- focusing on customers. But of course, changes will be there as the markets demand us to make. Our culture of 'One Team' will remain the core focus," he said. "It's a continuum, we don't change strategically when a new CEO comes in. But we will change according to what our customers want and how the market changes. We will not make any short changes but will continue to drive on our core focus of being with the customers," he elaborated. "I hope to double down on our deliveries," he asserted. Gopinathan said his 22 years at the TCS has been "fantastic". "And having decided to move on, which was taken after a lot of deliberations with the family and the group chairman and my mentor N Chandrasekaran, I feel so light now. "During past six years I helmed the TCS team with thrill. And I enjoyed each day I spent with the company. But today I have mixed feelings. Yes, I am also a bit sad as the reality sinks in and at the same time I also feel very light now," he added. During his six years, he added over USD 10 billion to the company's incremental revenue and over USD 70 billion to its market capitalisation. In the first nine months of this fiscal, he delivered a revenue growth of 14.8 per cent in constant currency terms, the best in the industry. On the timing of his resignation, Gopinathan said, "We are in the most stable times given what we have gone through in recent years. Of course, there are some ups and downs. It was important for me to announce the decision before the start of the new fiscal year." He refused to reveal his plans, except saying "have many ideas for the future". "I feel so happy and light now, it's completely liberating now, but a week before it was so consuming me a lot. Also, it is always better to leave when the going is good and not when everyone is rooting for my ouster," he said. "The timing now was logical to follow. I have been meeting Chandra off and on and been telling him that I wanted to move on. So better to pull the trigger now. Yes, TCS has been integral to who I am and so is the group to me. Never had a second thought. And I am sure my contributions to TCS will be lasting. In the past 22 year, I never ever thought about anything other than TCS," Gopinathan said as he turned emotional. On is priority now, he said, "my immediate priority is that Krithi steps in smoothly and I will be available 100 per cent for him". On the transition challenges, Krithivasan, who has been with the company for the past 37 years, said in a lighter note that shifting out of Chennai will be more challenging than the job of the CEO. "Transition is not rocket science as we have a stable team and we have worked together for so many years. Most important, certain business verticals I know well and the rest I will learn from Rajesh, he said, adding, "but we owe to our customers and stakeholders for our success and that will be my core focus -- doubling down on our deliveries." Krithivasan said he is sure about success "as we are blessed with the one-team culture. We have so many leaders to replace me in the BSFI vertical and we don't expect any dramatic changes going forward. Our core principle has been working customers and that will continue". SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-is-an-integral-part-of-who-i-am-ill-be-a-part-of-tcs-too-as-it-soars-rajesh-gopinathan/articleshow/98722638.cms">TCS is an integral part of who I am, I’ll be a part of TCS too as it soars: Rajesh Gopinathan</a> <a href="https://www.businessinsider.in/business/corporates/news/k-krithivasan-an-iit-kanpur-graduate-appointed-as-tcs-ceo-designate/slidelist/98725089.cms">TCS CEO-designate K Krithivasan is an IIT Kanpur graduate &amp; an old company hand</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-follows-jios-footsteps-starts-offering-unlimited-5g-data-check-out-the-plans/articleshow/98724214.cms">Airtel follows Jio’s footsteps, starts offering unlimited 5G data – here are the eligible plans</a>

TCS's new CEO-designate K Krithivasan confident about doubling down on customer deliveries

<ul><li>The company has been working on the project⁠— in which India’s Tata Group has a small investment⁠— for the last two decades </li><li>The founders told <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> that they see a company like <keyword id="86569" type="COMPANY" weightage="20" keywordseo="Hindustan-Aeronautics-Limited">Hindustan Aeronautics Limited</keyword> (HAL) as a potential partner.</li><li>The Yoelis see the flying car useful as an ambulance for health emergencies to start with, something that government or private hospitals and civic bodies can incorporate into their fleet. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>.</li></ul>Israel-based <keyword id="3918963" type="PERSON" weightage="20" keywordseo="Urban-Aeronautics">Urban Aeronautics</keyword> is developing <keyword id="489845" type="PERSON" weightage="20" keywordseo="Flying-cars">flying cars</keyword> called the <keyword id="9571506" type="COMPANY" weightage="20" keywordseo="cityhawk">CityHawk</keyword> powered by hydrogen fuel cells. The company has been working on the project⁠— in which India’s Tata Group has a small investment⁠— for the last two decades and is currently looking to raise money and gain a strategic partner in the last financing round. The founders told Business Insider that they would consider India for manufacturing and see a company like <keyword id="151778" type="DOMAIN" weightage="20" keywordseo="Hindustan-Aeronautics">Hindustan Aeronautics</keyword> Limited (HAL) as a potential partner. <div type="image" title="Rafi Yoeli" msid="76954191" hostid="261" caption="&amp;lt;p&amp;gt;Rafi Yoeli, the inventor and designer behind the Urban Aeronautics flying car.&amp;lt;/p&amp;gt;"></div> “We are looking for $40 million, possibly in tranches and maybe not all at once. The amount of money will take us to full-scale development at the beginning of manufacturing of the unmanned vehicle,” said <keyword id="9571507" type="PERSON" weightage="20" keywordseo="janina-frankel-yoeli">Janina Frankel-Yoeli</keyword>, the vice-president of marketing at Urban Aeronautics. “We are at a stage in 2020 where we are looking for serious agreements with strategic partners. We believe that Stage B will end in some kind of M&amp;A. We need a lot more than $40 million to actually finish the program, certify it and then switch to hydrogen, certify that as well, and launch it into the market,” said Rafi Yoeli, the inventor and designer behind the Urban Aeronautics flying car. The India connection The company currently has private investors, one of which is Tata Industries. However, Tata while responding to Business Insider queries said, “Tata Industries is a very minor investor in Urban Aeronautics. We do not have any further guidance to offer.” It has also partnered with French company Safran, which supplies all power and requirements. “We have signed an agreement with certain parties, not in India yet, but we are definitely looking forward to it. Really for the manned-aircraft, which we think has a lot of potential in India,” Rafi said. Rafi thinks a lot of aircraft makers in India can be a great strategic partner for their company. “There are a lot of aircraft makers in India we know Hindustan Aeronautics Limited (HAL), there was some point where Tata could have been a partner. I think they went in different directions. But, they are still invested,” he said. “We are a private company and setting up a manufacturing unit in India is a big advantage for us,” he added. How does a flying car look? The company aims to deploy these flying cars like Uber in the sky. No, it’s no more a dream or merely a fiction the company has already developed its “first tone, full-scale flying car, as you can see it is still unmanned. It is called comran. It already has 300 autonomous flights behind it,” Rafi Yoeli. <div type="image" title="image1(1)" msid="76954249" hostid="261"></div> CityHawk is a six-seater vehicle, with a uniquely compact footprint and no external wings or rotors. “It is indeed the size of a car. It is 2.25-metre wide at this time and approximately 6 metres long, more of a van. But it takes off vertically. It can carry 100s of kilograms, and it is designed to the same standard and same procedures as you design a bell two helicopter,” Rafi Yoeli told Business Insider. The Yoelis see the flying car useful as an ambulance for health emergencies to start with, something that government or private hospitals and civic bodies can incorporate into their fleet. As of now, flying vehicles including drones <a href="https://uavcoach.com/drone-laws-in-india/">are tightly regulated in India</a>, and it may be a while before the country opens up to flying cars, or is even able to afford them on a large scale. However, allowing a manufacturing unit is an opportunity to attract investment, to create jobs for some of the country’s bright engineers, and the subsequent knowledge transfer will make the country a fertile ground for future innovations in a space that is yet to take shape. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/comet-neowise-will-burn-bright-over-india-for-the-next-20-days-after-two-earlier-comets-fizzled-out/articleshow/76953313.cms" data-type="tilCustomLink">Comet Neowise will burn bright over India for the next 20 days after two earlier comets fizzled out</a> <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-ipo-analysis-and-comparison-with-camlin-fine-srf-and-clariant/articleshow/76953016.cms" data-type="tilCustomLink">Rossari Biotech IPO⁠— 40 scientists, China, and other factors that make the share sale hot</a>

An Israeli firm working on flying cars is looking for $40 million and a strategic partner⁠— the founders are open to set up the plant in India

<ul><li>Hindi on voice assistants is second biggest globally; 72% Indians prefer non-English language.</li><li>Amazon, Flipkart and Myntra were the top 3 online shopping destinations.</li><li>Groceries, fashion and health, beauty and personal care were the most searched product categories.</li></ul>MMA India, along with the AMMP Council and GroupM India, today launched an industry playbook titled ‘Modern Marketers Guide to Connected Consumer Journeys’. The guide is a compilation of learnings and insights by multiple industry experts and an analysis of the e-commerce landscape in India. In the context of the accelerated adoption of online channels, the playbook powered and supported by GroupM provides marketers with insights into the changing e-commerce landscape and the factors driving this shift. It also delves into the evolving customer buying journey and purchase patterns, sales-driving technologies such as Voice, AR/VR driving sales and effective channel strategy for improved business ROI. Speaking on the launch, <keyword id="6812225" type="General" weightage="20" keywordseo="moneka-khurana" source="Orion">Moneka Khurana</keyword>, MMA India Board Member; Country Head – India, MMA said, “This one-of-a-kind playbook led by MMA’s E-commerce council members outlines how organizations and digital business leaders can improve their understanding of the shift in consumer behavior and solutions that will drive the next phase of growth. Consistent digital exposure, combined with the presence of available omnichannel touchpoints, has resulted in the development of a new consumer purchasing process. MMA through its e-Commerce Council aims to build an overall understanding of the ecosystem and address cluster-specific issues improving capability in the omnichannel marketing. We hope this playbook will assist marketers and brands to effectively re-strategize their market approach – from the customers they target to the channels they sell through.” Shedding further light on the playbook, Tushar Vyas, President – Growth and Transformation, GroupM South Asia said, “Consumers now have multiple sources for discovery and information research and today, it consists of highly connected non-linear moments. The growth in internet users, reduction in data prices and changing consumer behavior are the key growth drivers for the evolution of eCommerce in India. We understand the changing online retail market and how it is set to grow 3x in the next 4-5 years mainly driven by underpenetrated categories like grocery, education, health. Considering the emergence and growth of eCommerce platforms, this handbook provides A-Z solutions on how marketers can use eCommerce as a platform to enhance a brand’s reach in these rapidly evolving times.” Commenting on this initiative, KRS Jamwal, Executive Director, Tata Industries Ltd. Says, “It is indeed my pleasure to pen a foreword for this very timely and thoughtful playbook. After rapid growth in India's e-commerce market, while the focus on cost and delivery efficiency will remain, it will become hygiene. Going forward, platforms and brands will need to differentiate by providing customers with a better, preferably personalized, yet holistic buying experience that enhances the browse and purchase journeys, and even attempt to bring aspects of the in-store experience online, leveraging tech. The MMA report provides an overarching view on consumer behavior shifts as well as identifies challenges that organizations may face as a result of those shifts, with best practices and possible solutions." Key highlights: Landscape: India today has 622 million internet users (8% growth over 2019) and is expected to touch 900 million users by 2025. With affordable data prices, consumers are increasingly becoming more “digital”. The online retail market is set to become 3 folds in the next 4-5 years, majorly driven by under-penetrated categories like grocery, education, and health. Voice, Video, and Vernacular: Though voice is at a nascent stage Indians are leapfrogging on Voice adoption; the market is expected to grow by 40% by 2022. Not just on Google Assistant, voice is rapidly growing as a preferred medium of input across Search and YouTube. Online video spends have seen the highest growth rate of 46% in 2020, as compared to other media channels. Online content consumption grew 35% post COVID, with a total growth of 13% in time spent on OTT from January 2020 to January 2021. Vernacular internet users prefer voice find voice a more natural way of interacting with technology which helps reduces friction. Hindi on voice assistants is the 2nd biggest language globally after English, while Hindi <keyword id="504074" type="General" weightage="20" keywordseo="voice-search" source="Orion">voice search</keyword> queries have seen 400% growth y-o-y. Pre-purchase: Urban internet users are relying on online platforms for product research. 62% of urban users are researching products online before making any purchase either online or offline. 50% of offline shopping across categories involves online product research. Channel Choice: The biggest retail trend is the increasing popularity of the direct-to-consumer or DTC model. D2C brands are witnessing a high number of subsequent funding rounds and strategic sale to incumbents. Working through a middleman can block access to end consumers. Brands with a DTC model can leverage direct relationships through loyalty programs, special discounting and promotions and unique and category-specific shopping experiences. Purchase: Online retail is shifting from electronics to grocery. 73% of customers have purchased through online shopping platforms in the past 12 months. The deciding factors are - 63% on product quality, 55% on price and 55% on product information, return and cancellation policy, and product warranty. There has been an interesting purchase pattern in the consumer journey in the last 3 months where Amazon, Flipkart and Myntra were the top 3 online shopping destinations and <a name="m_-845459193505835215__Hlk80787303">groceries, fashion and health, beauty and personal care were the most searched product categories</a>. Conversational Commerce, Voice Search, Video Streaming and Augmented Reality will also help brands drive their ecommerce strategies.

Online shoppers in India expected to reach 500 million by 2030: MMA and GroupM report

New Delhi, Jan 6 () The National Company Law Appellate Tribunal on Monday dismissed the Registrar of Companies' petition seeking modification of the judgement in the Tata-Mistry case and said its ruling had not cast any aspersions on the RoC.
 "There is no ground to amend judgement dated December 18, 2019," a two-member NCLAT bench said.
 On December 18, the tribunal ruled reinstating Cyrus Mistry as the Executive Chairman of Tata Group and also termed conversion of Tata Sons from a public company to a private one by the RoC as "illegal".
 Tata Sons, Chairman Emeritus Ratan Tata and Tata Consultancy Services (TCS) have separately moved the Supreme Court against the NCLAT order.
 In its plea, RoC -- under the corporate affairs ministry -- had sought to be impleaded as a party in the two petitions and deletion of words "illegal" and "with the help of the RoC" used by the NCLAT in its 172-page judgement.
 In its plea, RoC, which functions under the Ministry of Corporate Affairs, had sought to be impleaded as a party in the two petitions and deletion of words "illegal" and "with the help of the RoC" used by the NCLAT in its 172-page-long judgement.
 The tribunal had termed the appointment of N Chandrasekaran, as 'illegal' following the October 2016 sacking of Mistry as Tata Sons' executive chairman. It had also directed the RoC to reverse Tata Sons' status from a 'private company' to a 'public company'.
 In its urgent application, which was mentioned on December 23, just five days after the NCLAT's December 18, judgement, RoC Mumbai had asked the appellate tribunal "to carry out requisite amendments" in Para 186 and 187 (iv) of its judgement "to correctly reflect the conduct of the RoC, Mumbai as not being illegal and being as per the provisions of the Companies Act".
 Besides, it had also urged "to delete the aspersions made regarding any hurried help accorded by the RoC Mumbai to Tata Sons, except what was statutorily required" in para 181 of the order.
 In the order, the appellate tribunal had quashed the conversion of Tata Sons - the principal holding company and promoter of Tata firms - into a private company from a public firm and had termed it as "illegal".
 The tribunal had said that the action taken by the RoC to allow the firm to become a private company was against the provisions of the Companies Act, 2013 and 'prejudicial' and 'oppressive' to the minority member (Mistry Camp).
 "The Company (Tata Sons) shall be recorded as 'Public Company'. The RoC will make corrections in its record showing the Company as 'Public Company'," the NCLAT had said.
 Contesting the observations, RoC Mumbai asked the NCLAT to "delete the aspersion made regarding any hurried help accorded by RoC Mumbai to Tata Sons except what was statutorily required by RoC Mumbai".
 The RoC also said it has acted in "bonafide manner" in converting the status of Tata Sons as "there was no stay granted by this appellate tribunal on the operation of the judgement dated July 9, 2018 of Mumbai, NCLT at the time when this intimation was filed by Tata Sons Ltd".
 In its petition, the RoC had asked "to carry out the requisite amendment in paragraphs ... of the judgement dated December 18, 2019 to correctly reflect the conduct of RoC Mumbai as not being illegal and being as per the provisions of the Companies Act along with the rules".
 Months after Mistry was sacked, Tata Sons had received its shareholders' nod in September 2017, to convert itself into a private limited company from a public limited company, thereby absolving it of the need to take shareholder consent in taking crucial decisions, which could be passed with just the board's approval.
 Tata Sons Ltd was initially a 'Private Company' but after insertion of Section 43A (1A) in the Companies Act, 1956 on the basis of average annual turnover, it assumed the character of a deemed 'Public Company' with effect from February 1, 1975, the order said.
 Meanwhile, Cyrus Mistry on Sunday ruled out pursuing chairmanship of Tata Sons or any other executive positions at group entities but asserted that he is interested in a board seat at the holding company.
 Ruling out taking up any position at the group or any group entities, Mistry in a late Sunday evening public statement said that he is "walking the talk" to uphold corporate governance, and this is not a quest for position or power and he "will not be pursuing the executive chairmanship of Tata Sons, or directorship of TCS, Tata Teleservices or Tata Industries". RSN RAM DRR

Tata-Mistry case: NCLAT dismisses RoC plea, refuses to modify its judgement

New Delhi, Jan 5 () Tata Sons Private Limited (TSPL) is likely to mention in the Supreme Court on Monday its petition challenging the NCLAT decision restoring Cyrus Mistry as the executive chairman of the group and saying the verdict "undermined corporate democracy" and the "rights" of its board of directors.
A lawyer associated with the matter said the petition would be mentioned for urgent hearing.
The petition is likely to be mentioned by senior advocate Abhishek Manu Singhvi, who was the lead counsel for the Tata Group in the National Company Law Appellate Tribunal (NCLAT).
Meanwhile, Mistry has come out with a statement saying he is not interested in returning to the Tata Group and the decision was made in the interests of the Group, whose interests are far more important then the interests of any individual.
"To dispel the misinformation campaign being conducted, I intend to make it clear that despite the NCLAT order in my favour, I will not be pursuing the executive chairmanship of Tata Sons, or directorship of TCS, Tata Teleservices or Tata Industries.
"I will however vigorously pursue all options to protect our rights as a minority shareholder, including that of resuming the thirty year history of a seat at the Board of Tata Sons and the incorporation of the highest standards of corporate governance and transparency at Tata Sons," he said.
He said in the last three years, both in conduct and in their statements to the world at large, Tata Group's leadership has shown scant respect for the rights of minority shareholders. It is time the Group's management introspects and reflects on its conduct as it embarks on future actions, Mistry added.
"I am humbled by the NCLAT order, which after review of the enormous material on record, recognized the illegal manner in which I was removed and the oppressive and prejudicial conduct of Mr. Tata and other Trustees," he said.
TSPL, formerly known as Tata Sons Limited, in its petition, has sought "setting aside of the impugned judgment in toto" of NCLAT, alleging it was "completely inconsistent with the annals of corporate law" and reflected "non-appreciation of facts", which was "untenable in law".
The NCLAT, in a big relief to Mistry and Cyrus Investment Pvt Ltd, on December 18 restored him as the executive chairman of TSPL and ruled that the appointment of N Chandrasekaran as the head of the holding company of the USD 110-billion salt-to-software conglomerate was illegal.
It held the group's chairman emeritus Ratan Tata's actions against Mistry were oppressive and the appointment of a new chairman was illegal.
It, however, stayed the operation of its order with respect to Mistry's reinstatement for four weeks to allow TSPL to file an appeal in the top court.
In its appeal, filed through Karanjawala &amp; Co, TSPL sought a stay on NCLAT's verdict as an interim relief.
"In other words, far from putting an end to the alleged acts complained of, the judgment (of the NCLAT) has sown the seeds for a never-ending discord and conflict between the shareholders of the appellant (TSPL), creating a recipe for an unmitigated disaster," it said.
The plea raised questions of law and said the order restoring Mistry to his "original position" as the executive chairman of TSPL for the "rest of the tenure" was illegal as his tenure "stood extinguished in March 2017".
The plea termed "illegal" NCLAT's declaration that Chandrasekaran's appointment as the chairman of TSPL was wrong and claimed he was appointed "in accordance with the articles and duly approved by the board and shareholders".
It alleged the NCLAT granted reliefs to Mistry which were not even sought.
"Respondent nos 1 (Cyrus Investment Pvt Ltd) and 2 specifically pleaded before the NCLAT that they are not seeking reinstatement of Mistry. The tenure of Mistry as the chairman and director of Tata Sons expired in March 2017 and thus, for good reason, the respondents did not seek such reinstatement," the plea said.
"Mistry was replaced as the chairman of Tata Sons on October 24, 2016, by the majority of its board of directors (all directors voted in favour of the replacement, except one who abstained from voting and the remaining one was Mistry himself) for loss of confidence and the impugned judgment, by restoring Mistry to the position as chairman, has undermined corporate democracy and rights of the board of directors," the plea said.
It said Mistry was removed following the procedure applicable to corporate appointments, as envisaged in law.
The plea alleged it was nobody's case that Mistry's removal had resulted in any serious prejudice being caused to the working of Tata Sons and it "violated law or any contract".
The NCLAT also quashed the conversion of Tata Sons into a private company from a public firm.
It directed Tata Sons to not take any action against Mistry, whose family owned some 18 per cent interest in the company. The remaining 81 per cent is held by Tata Trusts and Tata Group companies, along with Tata family members.
Mistry, the scion of the wealthy Shapoorji Pallonji family, had in December 2012 succeeded Ratan Tata as the executive chairman of Tata Sons, a post that also made him the head of all Tata group-listed firms such as Tata Power and Tata Motors.
In an overnight coup, he was removed as the chairman of Tata Sons in October 2016. Along with him, the entire senior management too was purged and Ratan Tata was back at the helm of affairs, four years after he took retirement. RKS SKV SKV ABH
ABH

Tata Sons to mention in SC plea against NCLAT decision restoring Cyrus Mistry as executive chairman

Even after <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> was removed as <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> Chairman, he still continues to serve as the Chairman of other <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword> companies. This is apparently not going well with the conglomerate and hoping he will quit on moral grounds. 
 Mistry still remains the Chairman of Tata Steel, Tata Motors, Tata Consultancy Services, Indian Hotels, Tata Global Beverages Limited, Tata Chemicals, Tata Industries and <keyword id="6359475" type="CITY" weightage="20" keywordseo="Tata-Teleservices">Tata Teleservices</keyword>. He also continues to be a director of Tata Sons and can be removed only by shareholders after being given a due warning. Mistry’s family's Shapoorji Pallonji Group, a construction major, owns nearly a fifth of Tata Sons. 
 Sources told NDTV, Tata believes that the sacked chairman of Tata Sons, Mistry, will resign from the companies on moral grounds after he made allegations against <keyword id="6360721" type="COMPANY" weightage="20" keywordseo="Tatas">Tatas</keyword>, which were called unsubstantiated claims and malicious allegations by the group. 
 
The Group, however, is still signaling that its business is as usual at its peak and they have cracked down a few deals. 
 
"Because of the way things have happened, a lot of it was undesired and that has rankled many investors. Hopefully these are things that will not turn ugly from here and the spat will end sooner than later," K Subramanyam, Co-Head, Equity Advisory, Altamount Capital, told NDTV. 
 
VK Sharma Head of Business, Private Client Group, HDFC Securities, who is an investor in Tata Teleservices, also feels that Mistry should stand down on this one. "It is going to slow down decision-making so I think it would be proper for Mr Mistry to step down as chairman from these companies," he told NDTV. 
 Mistry, recently spent nearly six hours in the <keyword id="275791" type="COMPANY" weightage="20" keywordseo="Bombay-House">Bombay House</keyword>, the <keyword id="3791507" type="UNKNOWN" weightage="20" keywordseo="tata-headquarter">Tata Headquarter</keyword> in Mumbai and also chaired the <keyword id="3791506" type="UNKNOWN" weightage="20" keywordseo="tbgl">TBGL</keyword> board meeting. 
(image:Indiatimes)

Tatas are waiting for Cyrus Mistry to quit as he continues to be the Chairman of other group companies

Drawing inspiration from the success of like <keyword id="18635" type="CITY" weightage="80" keywordseo="Amazon">Amazon</keyword>, <keyword id="302749" type="COMPANY" weightage="80" keywordseo="Alibaba">Alibaba</keyword>, <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> and Snapdeal, <keyword id="8555" type="CITY" weightage="100" keywordseo="Tata">Tata</keyword> Group might foray into <keyword id="35621" type="UNKNOWN" weightage="20" keywordseo="e-commerce">e-commerce</keyword> space, a newspaper report claimed. 
 
Citing two sources, the newspaper said that Tata Group's entry into e-commerce will be through its subsidiary, Tata Industries Ltd. According to the newspaper, it is expected to be in 2015. 
 
The yet-to-be-named venture is likely to be rolled out in 2015, and will initially showcase Tata's existing retail chain brands such as Westside, Croma and Star Bazaar. Tata is also planning to tie up with its partner Zara, which sells online only through its own sites. 
 
Tata has a substantial presence in real-world retail, including joint ventures with Britain's Tesco, Spain's Zara and coffee chain Starbucks. Last month, Ratan Tata, chairman emeritus of Tata Sons, bought a stake in Snapdeal. 
 
Indian online firms have been raising funds to compete with bigger rival Amazon.com Inc and expand their reach.

You Searched For "Tata Industries" and got 13 results

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Tata-Mistry case: NCLAT dismisses RoC plea, refuses to modify its judgement

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Tatas are waiting for Cyrus Mistry to quit as he continues to be the Chairman of other group companies

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