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The Board of <keyword id="46894" type="General" weightage="80" keywordseo="tata-sons" source="Orion">Tata Sons</keyword> on Friday approved the reappointment of N. <keyword id="56148" type="General" weightage="80" keywordseo="chandrasekaran" source="Orion">Chandrasekaran</keyword> as the <keyword id="6420527" type="General" weightage="80" keywordseo="executive" source="Orion">Executive</keyword> Chairman for the next five years. The decision took place during a board meeting held on Friday. Accordingly, the Board reviewed the last five years' performance of the group and considered the reappointment of Chandrasekaran. In a statement, <keyword id="8555" type="General" weightage="100" keywordseo="tata" source="Orion">Tata</keyword> Sons said that <keyword id="5196318" type="General" weightage="20" keywordseo="ratan-n-tata" source="Orion">Ratan N. Tata</keyword>, who was a special invitee to this meeting, expressed his satisfaction on the progress and performance of the Tata Group under the leadership of Chandrasekaran. "He recommended his term be renewed for a further five-year period," the statement said. "The Board members commended the performance of the Executive Chairman and unanimously approved the reappointment of Mr. <keyword id="97017" type="General" weightage="20" keywordseo="n-chandrasekaran" source="Orion">N Chandrasekaran</keyword> as the Executive Chairman for the next five years." Tata Sons is the principal investment holding company and promoter of Tata companies. In 2020-21, the revenue of Tata companies, taken together, was $103 billion These companies collectively employ over 8,00,000 people. At present, there are 29 publicly-listed Tata enterprises with a combined market capitalisation of $314 billion as on December 31, 2021. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/taxing-cryptocurrencies-does-not-give-them-legal-status-clarifies-indias-finance-minister/articleshow/89500097.cms">Taxing cryptocurrencies does not give them legal status, clarifies India’s finance minister</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/board-is-reviewing-some-serious-allegations-says-new-bharatpe-ceo/articleshow/89497260.cms">Board is reviewing some 'serious allegations', says new BharatPe CEO</a>

Tata Sons Board reappoints N. Chandrasekaran as Executive Chairman for the next five years

He joined <keyword id="6357150" type="CITY" weightage="20" keywordseo="TCS">TCS</keyword> in 1987 and took over as CEO on October 6, 2009 prior to which he was COO and Executive Director of TCS.

Meet N. Chandrasekaran, Tata Sons new chairman and Ex-TCS boss

<keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>, the former <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword> chairman recently opposed the appointment of Natarajan Chandrasekaran as his successor and is said to be preparing to open another legal front challenging the decision 
 
According to the officials, a day before the board of Tata Sons met to consider Chandrasekaran as the chairman last week, Mistry shot off an angry letter to his fellow board members challenging the legality of the appointment. 
 
"Unlike the October board meeting when the decision to sack Mistry was not mentioned in the board agenda circulated before, this time the members were aware of what to expect. Mistry is still a director of Tata Sons and the agenda papers were circulated to him as well. That prompted the mail from him," an official aware of the communications, told ET. 
 
Reportedly, Mistry did not physically attend the board meeting the following day. 
 
Details of Cyrus' possible legal strategy could not be independently verified but for some this could be a potential precursor to a fresh complaint before the court. 
 Mistry has already challenged the decision in the <keyword id="6354457" type="ORGANIZATION" weightage="20" keywordseo="National-Company-Law-Tribunal">National Company Law Tribunal</keyword> (NCLT). In his petition, Mistry alleged collusion between Tata Sons and <keyword id="6383155" type="UNKNOWN" weightage="20" keywordseo="Tata-Trusts">Tata Trusts</keyword> and oppression of minority interests at the $103-billion Indian conglomerate. 
 
In his missive to the board members on January 11, Mistry argued that Chandrasekaran's appointment was illegal considering the matter was still sub-judice. Tatas after getting a green signal from their legal advisors decided to proceed with the board meeting. 
 "<keyword id="4078029" type="UNKNOWN" weightage="20" keywordseo="the-tata-sons-board">The Tata Sons Board</keyword> meeting held on January 12, 2017 and the appointment of <keyword id="97017" type="COMPANY" weightage="20" keywordseo="N-Chandrasekaran">N Chandrasekaran</keyword> as chairman of Tata Sons have been done as per the company's Articles of Association and relevant laws," a Tata Sons spokesperson told ET. 
 
Sources close to Mistry said that he was not comfortable attending the board meet since the Tatas had violated undertakings given by them in court. 
 
"At this stage, we do not wish to discuss next steps in terms of legal strategy," people close to Mistrytold ET. 
 
Tata Sons lawyer Abhishek Manu Singhvi said the tribunal's December 22 directives just meant that no legal action or proceedings could be undertaken by the company, Tata Trusts or the Mistry family firms. Tata Sons was, however, allowed to take company related decisions, he said. By filing the petition, the former chairman is trying to get the tribunal to stop Tata Sons from holding a planned shareholder meeting to oust him as a director, he claimed.

War intensifies: Cyrus Mistry is going to challenge Chandrasekaran's appointment as Tata Sons Chairman

(Eds: Adding details) New Delhi, Jun 5 () The USD 111 billion Tata Group is not looking to monetise investments to raise capital and has enough cash to support group firms, its Chairman N Chandrasekaran said on Friday as he sought to scotch speculations about the impact of the COVID-19 pandemic on the group's business. The Board of Tata Sons, the holding company of the salt-to-software conglomerate, met on Friday reportedly to evaluate and discuss strategies to allocate funds to group companies and prioritise sectors needing more liquidity. Without mentioning the board meeting, Tata Sons issued a statement to "dispel the recent unfounded rumours" about the group. "The Tata group companies, like all other companies, are facing both challenges and opportunities arising out of the pandemic and resulting economic situation, based on the industries and markets they operate in," Chandrasekaran said in the statement. "All our group companies are progressing well responding to these challenges and opportunities and we are confident that they will emerge stronger," he added. Terming reports on the impact of COVID-19 on the group as "malicious" and intending to undermine the performance of the Tata group and discredit the Chairman Emeritus Ratan N Tata, he said the group is well poised to capture new opportunities. "We are focused on navigating the current situation and profitable growth," he said. "Tata Sons is in a strong financial position with adequate cash flows to support the group companies and new growth initiatives. Tata Sons is not looking to monetise its investments to raise capital." Companies across sectors have borne the brunt of the coronavirus pandemic and the nationwide lockdown imposed to curb its spread. Sectors most impacted include hospitality, auto, aviation and consumer goods. Tata Group is present in all of them. Tata Steel and JLR have suffered the most. Its flagship Tata Consultancy Services (TCS) too has not remained untouched by the impact of the pandemic. Since taking over as chairman of the group in February 2017, Chandrasekaran has increased synergies across group companies to best leverage the strength of the group. It was speculated that the Tata Sons board may be presented with a strategy for growth in a post-COVID world by optimising costs. The statement did not say anything about the deliberations of the board. The group's top management has taken up to 20 per cent salary cut for the first time in the conglomerate's history. ANZ ANZ ABM ABM

Tata Group not looking to monetise investments, has enough cash, says Chairman N Chandrasekaran

Mumbai, Jan 17 () India's largest software exporter Tata Consultancy Services (TCS) on Friday said it does not see any impact of the National Company Law Appellate Tribunal ruling removing N Chandrasekaran as its chairman.
The Supreme Court has given a "blanket stay" on the NCLAT order, the company's Chief Executive and Managing Director Rajesh Gopinathan said.
"Absolutely not and as your are aware the matter has been referred to the SC. The company has also appealed, and the SC has granted a blanket stay and we don't see any impact to the company from that," he said when asked about the impact of the NCLAT order removing Chandrasekaran.
He reiterated again that the company is not worried about the legal battles.
It can be noted that the company, which is usually among the first ones to report its numbers, had to delay its board meeting to consider the December quarter performance till it got the SC's relief on the NCLAT order last week.
The NCLAT had last month ruled that the meeting in which Cyrus Mistry was removed as the chairman of Tata Sons, the diversified group's holding company, was illegal and ordered his reinstatement. 
Chandrasekaran had succeeded Mistry as the chairman of Tata Sons after one of the biggest corporate battles. AA MKJ

No impact of NCLAT ruling removing Chandrasekaran on TCS: Gopinathan

Tata Sons executive chairman <keyword id="97017" type="PERSON" weightage="20" keywordseo="N-Chandrasekaran">N Chandrasekaran</keyword> has purchased 1 lakh shares of <keyword id="6370462" type="DOMAIN" weightage="20" keywordseo="tata-communications">Tata Communications</keyword> from secondary market, according to a regulatory filing. "We have received an intimation from N Chandrasekaran , executive chairman, <keyword id="8928715" type="COMPANY" weightage="20" keywordseo="tata-sons-private-limited">Tata Sons Private Limited</keyword> regarding his purchase of 1,00,000 equity shares of <keyword id="628844" type="COMPANY" weightage="20" keywordseo="Tata-Communications-Limited">Tata Communications Limited</keyword> at an average price of Rs 249.15, excluding brokerage and STT, per share as on March 16, 2020," Tata <keyword id="6379089" type="UNKNOWN" weightage="20" keywordseo="communications">Communications</keyword> said in a BSE filing. Shares of Tata Communications closed at Rs 226 a unit, down by 7.92 per cent compared to previous close, at BSE on Wednesday.

Tata Sons chairman N Chandrasekaran buys 1 lakh shares in Tata Communications

New Delhi, Feb 25 () Amid the ongoing AGR crisis, Tata Sons Chairman N Chandrasekaran on Tuesday met Communications Minister Ravi Shankar Prasad, even as an official said the telecom ministry is prepared to issue a notice to the company for paying only part of its dues as full and final settlement.Emerging from the meeting which lasted for over 30 minutes, Chandrasekaran declined to comment on the details of his discussion.The crucial meeting comes at a time when the government is looking to issue a detailed notice to Tatas for paying only Rs 2,197 crore as full and final settlement against government's calculation of Rs 14,000 crore. A senior government official said that the telecom department is not convinced with the company's dues assessment. A notice will be sent to the company in a day or two questioning the company's AGR calculation. MBI MKJ

Tata Sons chief meets telecom minister amid AGR crisis

<keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> Chairman <keyword id="97017" type="COMPANY" weightage="20" keywordseo="N-Chandrasekaran">N Chandrasekaran</keyword> on Wednesday asked all group employees to stay focussed on their businesses and welfare of stakeholders in wake of the NCLAT order that raised issue of his appointment as Executive Chairman of the company. In a message to the employees of the group, Chandrasekaran said Wednesday's "NCLAT ruling, which apart from other things, raises issues on my appointment as Executive Chairman of Tata Sons". He further said, "Tata Sons firmly believes in the strength of our case and will pursue the appropriate legal recourse".
 Going forward, he further said, "I assure you that we have set ourselves on a course that will make the <keyword id="6355725" type="COMPANY" weightage="20" keywordseo="tata-group">Tata Group</keyword> stronger and more vibrant than it has ever been before. I urge all employees to stay focussed on their businesses and the welfare of our stakeholders". Chandrasekaran said ever since he was asked to take on the role and responsibilities of Executive Chairman in February 2017, "our efforts have been primarily focused on: restoring stability and moving decisively towards a healthier financial position; conducting our businesses with the highest ethical standards, which the group has been known for over 150 years".
 He further said "honoring our commitments to all stakeholders and resolving outstanding issues; driving growth and transforming our businesses for the future" were also equally important issues. 
 "We will continue to work towards deepening the legacy of this unique institution," Chandrasekaran said.
 The NCLAT on Wednesday ordered reinstatement of ousted Chairman <keyword id="6356895" type="ORGANIZATION" weightage="20" keywordseo="cyrus-mistry">Cyrus Mistry</keyword>, while ruling appointment of Chandrasekaran as illegal. See also: <a href="https://www.businessinsider.in/business/news/tata-sons-says-the-court-gave-cyrus-mistry-more-than-he-wanted/articleshow/72872657.cms">Tata Sons says the court gave Cyrus Mistry more than he wanted</a> <a href="https://www.businessinsider.in/business/news/tata-group-stocks-fall-after-nclat-allows-cyrus-mistry-to-return-as-its-chairman/articleshow/72869261.cms">Tata Group stocks tumble after Mistry's legal win casts a shadow on the conglomerate's hallowed reputation</a> <a href="https://www.businessinsider.in/business/corporates/news/cyrus-mistry-warning-to-ratan-tata-on-jlr-tata-motors-airasia-and-telecom/articleshow/72873129.cms">Cyrus Mistry was proven right on at least four of his warnings to the Tata Sons Board even before the latest court ruling</a>

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Tata Sons Board reappoints N. Chandrasekaran as Executive Chairman for the next five years

IANS

Meet N. Chandrasekaran, Tata Sons new chairman and Ex-TCS boss

BI India Bureau

War intensifies: Cyrus Mistry is going to challenge Chandrasekaran's appointment as Tata Sons Chairman

BI India Bureau

Meet N. Chandrasekaran, Tata Sons new chairman and Ex-TCS boss

Tata Group not looking to monetise investments, has enough cash, says Chairman N Chandrasekaran

PTI

No impact of NCLAT ruling removing Chandrasekaran on TCS: Gopinathan

PTI

Tata Sons chairman N Chandrasekaran buys 1 lakh shares in Tata Communications

PTI

Tata Sons chief meets telecom minister amid AGR crisis

PTI

Chandasekaran writes to Tata employees; asks them to focus on biz, stakeholders' welfare

PTI

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