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New Delhi, Dec 18 () Future appointments of Chairman and other board members of Tata Sons must be done in consultation with the minority shareholder Shapoorji Pallonji Group, the NCLAT said on Wednesday while ordering reinstatement of ousted Chairman Cyrus P Mistry.
A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya said that the move would remove the mistrust between Tata and Mistry group and would create a healthy atmosphere.
"We are of the view that for better protection of interest of all stakeholders as also safeguarding the interest of minority group, in future at the time of appointment of the Executive Chairman, Independent Director and Directors, the 'Tata Group' which is the majority group should consult the minority group i.e.'Shapoorji Pallonji Group," said NCLAT.
It also ordered that "any person on whom both the groups have trust, be appointed as Executive Chairman or Director as the case may be which will be in the interest of the Company and create healthy atmosphere removing the mistrust between the two groups, already developed and has caused global effect as admitted in the 'Press Statement' of the Company."
The appellate tribunal has also directed Ratan N Tata, Chairman emeritus, Tata Sons and the nominees of Tata Trust to desist from taking any decision in advance and interfere into the affairs of the holding company. 
"Ratan N Tata and the nominee of the Tata Trusts shall desist from taking any decision in advance which requires majority decision of the Board of Directors or in the Annual General Meeting," the NCLAT order said.
The NCLAT said that the group's chairman emeritus Ratan Tata's actions against Mistry were 'prejudicial" and "oppressive" in nature.
The appellate tribunal said that the "affirmative voting power of the nominated Directors of the 'Tata Trusts' over majority decision of the Board; actions taken by Ratan N Tata, Nitin Nohria and NA Soonawala and others as discussed above; the fact that the Company ('Tata Sons has suffered loss because of 'prejudicial' decisions taken by Board of Directors."
The fact that a number of 'Tata Companies' have incurred loss; in spite of decision making power vested with the Board of Directors with affirmative power of nominated Directors of the 'Tata Trusts', it said. KRH KRH MR
MR

Tata Sons Chairman &  directors  to be appointed in consultation with Mistry Camp: NCLAT

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

Mr. <keyword id="6360722" type="PERSON" weightage="80" keywordseo="ratan-tata">Ratan Tata</keyword>, Chairman Emeritus, <keyword id="46894" type="PERSON" weightage="80" keywordseo="Tata-Sons">Tata Sons</keyword>, will come on board as a Special Advisor to Singapore-based venture capital fund <keyword id="969909" type="ORGANIZATION" weightage="80" keywordseo="Jungle-Ventures">Jungle Ventures</keyword>. 
 
In his role as Special Advisor, Mr. Tata will spend time with Jungle’s portfolio of companies to help them build category leadership across global markets. Jungle has made investments in 30 Asian startups including Zipdial (recently acquired by Twitter), LiveSpace, Tradegecko, CrayonData, Fastacash and travelmob. 
 
Welcoming Mr. Tata on board, Anurag Srivastava, Founding and Managing Partner, Jungle Ventures said, “I have had the good fortune of working with Mr. Tata in the past and feel honoured to have this opportunity again to work with him. With his wealth of experience, there is probably no better advisor that we can have in this part of the world, to mentor us and our portfolio of companies.” 
 
Some of the other advisors that currently work with Jungle and their start-ups include Gokul Rajaram, Product Engineering Lead at Square, Lim Dershing, Founder of JobsCentral and Alon Sobol, Director of ISP/ Telco Relationships for Spotify. Jungle Ventures launched with a $10 million seed-to-early stage fund in 2012 and is currently raising a second fund with a much bigger corpus. 
 
(Image credit: Indiatimes)

Ratan Tata joins
Jungle Ventures as Special Advisor

<keyword id="874458" type="COMPANY" weightage="20" keywordseo="Xiaomi">Xiaomi</keyword> has been making the right noises in India off lately and now the company has announced that Rata Tata Chairman emeritus of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword>, has made an investment in the company. This news was shared by <keyword id="1336378" type="PERSON" weightage="20" keywordseo="Hugo-Barra">Hugo Barra</keyword> (who is the Vice President of Xiaomi) on his <keyword id="6354616" type="CITY" weightage="20" keywordseo="Twitter">Twitter</keyword> account. This is the first investment by an Indian in this company. 
 
<blockquote class="twitter-tweet" lang="en">
	 We're really excited to announce our newest Xiaomi investor — Mr <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Chairman Emeritus of Tata Sons.
	— Hugo Barra (@hbarra) <a href="https://twitter.com/hbarra/status/592214637111676929">April 26, 2015</a></blockquote>
 
As of now, the company has not disclosed the amount of the funding or the percentage stake that Ratan Tata would have in the company. As per various reports, the Chinese company Xiaomi has had six rounds of funding till date and comprises of investors such as DST Global, GIC, Morningside Group, HOPU Investment Management company, QiMing venture Partners and <keyword id="104695" type="CITY" weightage="20" keywordseo="Qualcomm">Qualcomm</keyword> Ventures. The last funding that the company had received was in December 2014, in which it had raised over $1 billion from investors including GIC valuing the company at over $45 billion. 
 This investment from Ratan Tata comes at an interesting time, as only a month ago, <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> had invested $80-million in Cyanogen. Cyanogen is an operating system and currently Micromax is offering smartphones based on Cyanogen under its Yu brand. 
 
Coming back to Xiaomi, the company had recently held a global launch event in New Delhi and in the same it had revealed the Xiaomi Mi 4i smartphones. As per the company, this is the first made for India smartphone by them. It would be interesting to see with Ratan Tata on-board will the company have more India-focus devices in the coming days.

Ratan Tata bets big on smartphones, invests in Xiaomi

Tata Group chairman <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword> breathed his last on Wednesday (October 9) at Breach Candy Hospital in Mumbai. On Monday, the industrialist was admitted to the hospital for age-related issues. As soon as the news of his death broke, people started remembering the philanthropic businessman and social media is full of reactions. From actors to other business leaders, a lot of prominent figures reacted to Ratan Tata's demise. From <keyword id="6354583" type="General" weightage="20" keywordseo="salman-khan" source="Orion">Salman Khan</keyword> and <keyword id="1655" type="General" weightage="20" keywordseo="priyanka-chopra" source="Orion">Priyanka Chopra</keyword> Jonas to Ranveer Singh and <keyword id="6357860" type="General" weightage="20" keywordseo="anushka-sharma" source="Orion">Anushka Sharma</keyword>, Bollywood celebs also expressed their sorrow on social media. Let us take a look at some reactions. Superstar Salman Khan expressed his sorrow on X (formerly Twitter), writing, “Deeply saddened by the passing of Mr. Ratan Tata,” capturing the emotional weight of the moment. Ajay Devgn echoed the sentiment, describing Tata as a visionary whose impact transcended business: “The world mourns the loss of a visionary. Ratan Tata’s legacy will forever inspire generations. His contributions to India and beyond are immeasurable. We are deeply grateful. Rest in peace, Sir.” Anushka Sharma, sharing her thoughts on Instagram, lauded Tata for his integrity and grace: “Deeply saddened by the news of Shri Ratan Tataji. He upheld the values of integrity, grace, and dignity through everything he did and was truly an icon and Taj of India. RIP sir, you have touched so many lives.” Priyanka Chopra Jonas reflected on Tata’s kindness and leadership, noting, “Through your kindness, you touched the lives of millions. Your legacy of leadership and generosity will continue to inspire generations. Thank you for your unmatched passion and dedication to everything you did for our country.” Many others in the industry also shared their admiration for Tata. Sanjay Dutt called him a beacon of integrity, saying, “India has lost a true visionary today. He was a beacon of integrity and compassion whose contributions went beyond business, impacting countless lives.” Randeep Hooda hailed Tata as “India’s most valuable man,” saying that his worth was measured by his values rather than wealth. "India’s most valuable man, not necessarily for his vast wealth, but for his values.. largest being Integrity !! Never a show off but always the star ⭐️ The life #RatanTata ji led will always be an inspiration,"Hooda wrote in a post on X. Varun Dhawan, in a heartfelt Instagram post, shared a throwback picture of Tata, simply writing, “RIP sir RATAN TATA,” while Riteish Deshmukh took to X, stating, “Deeply saddened to know that Shri #RatanTata ji is no more. Condolences to the family and loved ones. Rest In Glory Sir.” Ranveer Singh paid tribute by sharing a monochrome photo of Tata with a simple infinity emoji, highlighting the eternal impact Tata will leave on the country. Actor R Madhavan also shared his admiration, writing, “A visionary, a gentleman of the highest order, an inspiration for generations, leaves behind a void that can never be filled.” <keyword id="19959949" type="General" weightage="20" keywordseo="sushmita-sen" source="keywords">Sushmita Sen</keyword> and Karan Johar both paid their respects, while Dharmendra expressed his regret at never having met Tata, calling him a “Humble King” who treated his workers like family. “Sir, you will always be remembered with great love and respect,” he added. Filmmaker Rohit Shetty called Ratan Tata a “real hero,” while music maestro AR Rahman offered a poignant reflection: “Some icons are living textbooks, teaching us about leadership, success, and legacy. Extraordinary yet human and approachable, they inspire and guide us. India has lost a true son and champion. Rest in peace, Ratan ji.” <keyword id="19895145" type="General" weightage="20" keywordseo="vicky-kaushal" source="keywords">Vicky Kaushal</keyword> also expressed his grief, writing, “Never could meet him… but adored, admired and respected everything he said and did for society. Lost a legend. May his soul rest in peace.” Other notable tributes came from stars like SS Rajamouli, Jr NTR, Prithviraj Sukumaran, and Rana Daggubati, who all shared their deep respect for Tata’s leadership and humanitarian work. Rajamouli, in particular, remarked, “Legends are born, and they live forever… Ratan Tata’s legacy is woven into everyday life.” The passing of Ratan Tata has left a profound void, but the legacy he has built in business, philanthropy, and ethics will continue to inspire and guide future generations.

'Humble king who looked after his workers like children': Bollywood reacts to Ratan Tata’s demise

Chairman emeritus of <keyword id="500305" type="ORGANIZATION" weightage="20" keywordseo="Tata-Sons-Ratan-Tata">Tata Sons Ratan Tata</keyword>’s Twitter account was hacked yesterday. <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> had <keyword id="6354904" type="PERSON" weightage="20" keywordseo="tweet">tweet</keyword>ed on Saturday evening informing of the hacking, "Shocked my a/c was hacked yesterday &amp; spurious twesent with malicious intent. Tweet deleted, a/c restored." 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Shocked my a/c was hacked yesterday &amp; spurious tweet sent with malicious intent.Tweet deleted, a/c restored. C link. <a href="https://t.co/L0HKIy4nHC">pic.twitter.com/L0HKIy4nHC</a>
	— Ratan N. Tata (@RNTata2000) <a href="https://twitter.com/RNTata2000/status/774583035077484545">September 10, 2016</a></blockquote>
 
The post mentioned a link that said: "Shocked that my Twitter account was hacked yesterday and a spurious malicious tweet was wrongly attributed to me. This spurious tweet has now been deleted any my Twitter account restored. I regret the inconvenience that this malicious and wrongful action may have caused." 
 
Mr Tata who is seldom onboard twitter despite having 6.13 mn followers, has so far tweeted 119 times, the latest being on Saturday evening following restoration of his account.

Ratan Tata's Twitter account hacked; restored

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Thomson ReutersAn employee works at a factory of Dongbei Special Steel Group Co., Ltd., in Dalian</div></div></div>Tata Sons, the holding company that owns Tata Steel, unexpectedly removed Cyrus Mistry as company chairman, replacing him with former chief Ratan Tata.The company issued a short statement that gave no indication of how the board came to its decision."Tata Sons today announced that 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 href="http://www.tata.com/article/inside/tata-sons-chairman-selection-committee">the group said in a statement on its website on Monday.</a>Mistry had taken over as chairman from Ratan Tata in 2012. The group is looking for a permanent chairman, according to the statement.The Tata Group has a turnover of more than $100 billion and owns brands including Tetley tea, Jaguar Land Rover and Tata Steel, the second biggest steel producer in Europe.The steel unit caused a political stir earlier this year when it threatened to pull the plug on some of its <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> steel plants, including Port Talbot in Wales. The plant is Tata's biggest in the UK but reportedly loses £1 million a day, unable to compete with cheap Chinese-made steel.Tata <a href="http://uk.businessinsider.com/tata-steel-sells-uk-business-to-greybull-capital-2016-4">sold off several UK assets to Greybull Capital i</a>n June, saving around 4,400 jobs but the fate of the 4,000 workers at Port Talbot is still uncertain. The Times noted that Ratan Tata said that the company's UK plants were "underinvested and overmanned" and that it might need to "cut back on the size and the scale of the operations and make them profitable." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/oxford-economics-gregory-daco-hillary-clinton-minimum-wage-too-much-too-fast-2016-10">An economist explains why Clinton's plan to raise the minimum wage to $15 might be 'too much, too quickly'</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="I5bHlhNjE6SP62qMZWa87cbE4xnfQlVb" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

A huge Indian company replaced its chairman and it might not be good news for steelworkers in Port Talbot

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.

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Tata Sons Chairman & directors to be appointed in consultation with Mistry Camp: NCLAT

PTI

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

PTI

Ratan Tata joins Jungle Ventures as Special Advisor

BI India Bureau

Ratan Tata bets big on smartphones, invests in Xiaomi

Surbhi Chawla

'Humble king who looked after his workers like children': Bollywood reacts to Ratan Tata’s demise

Divyanshi Sharma

Ratan Tata's Twitter account hacked; restored

BI India Bureau

A huge Indian company replaced its chairman and it might not be good news for steelworkers in Port Talbot

Ben Moshinsky

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

BI India Bureau

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