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<keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword> Chairman N. Chandrasekaran has been honoured with France's highest order of merit, Legion d'Honneur, for bolstering relations and building business between India and France. The award was conferred on Chandrasekaran, 59, on Tuesday at the Foreign Ministry in Paris by Minister <keyword id="14065140" type="General" weightage="50" keywordseo="catherine-colonna" source="Orion">Catherine Colonna</keyword>, Minister of Europe and Foreign Affairs. He was accompanied by his wife Lalitha and son Pranav. "<keyword id="6355725" type="General" weightage="50" keywordseo="tata-group" source="Orion">Tata Group</keyword> is a major player in the Franco-Indian partnership: I had the pleasure of presenting its CEO, on behalf of the President of the Republic, with the insignia of Chevalier de la Legion d'honneur. Dear Natarajan Chandrasekaran, you are a friend of France," Colonna tweeted after presenting the award. "Dear Natarajan Chandrasekaran, you are a true friend of France," Ambassador of France to India, Emmanuel Lenain tweeted. The Legion of Honour is the highest French order of merit, both civil and military. It was established in 1802 by Napoleon Bonaparte. France is one of India's largest scientific partners, with over 25 R&amp;D centres, 15 joint Indo-French research laboratories, and 500 collaborative projects in the country. There are currently 10 <keyword id="8555" type="General" weightage="100" keywordseo="tata" source="Orion">Tata</keyword> group companies operating in France, according to Indo-French Chamber of Commerce and Industry (IFCCI) Director General Payal S. Kanwar. "The Tata family has deep-rooted ties with France right from JRD Tata who was half French and born in Paris to <keyword id="201933" type="General" weightage="50" keywordseo="simone-tata" source="Orion">Simone Tata</keyword> who was incidentally one of the founders of IFCCI. The recent historic order of 250 Airbus A320neos and A350s along with 800 Safran motors for Air India has further boosted business between both countries!" Kanwar wrote on her Instagram. Last year, Chandrasekaran got a five-year extension as the chairman of Tata Sons, the holding company and promoter of more than 100 Tata operating companies with aggregate annual revenues of more than $100 billion. He also chairs the boards of several group operating companies, including Tata Steel, Tata Motors, Tata Power, Tata Global Beverages, Indian Hotels Company and Tata Consultancy Services (TCS), of which he was chief executive from 2009-17. In addition to his professional career at Tata, Chandra was also appointed as a director on the board of India's central bank, the Reserve Bank of India, in 2016. He was appointed on the International Advisory Council of Singapore's Economic Development Board in 2018. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/ondc-not-an-immediate-risk-for-zomato-and-swiggy-as-lower-prices-are-due-to-discounts/articleshow/100298963.cms">ONDC not an immediate risk for Zomato and Swiggy as lower prices are due to discounts</a> <a href="https://www.businessinsider.in/stock-market/news/five-reason-why-markets-will-not-run-up-further-from-here/articleshow/100294718.cms">Five reasons why markets will not run up further from here</a> <a href="https://www.businessinsider.in/business/news/indias-super-rich-will-double-in-numbers-to-1-6-million-by-2027-knight-frank/articleshow/100298454.cms">India’s super rich will double in numbers to 1.6 million by 2027: Knight Frank</a>

Tata Sons chairman Chandrasekaran bestowed with France's highest civilian award

<ul><li>Tata Sons Chairman N Chandrasekkharan made a big revelation at the Annual General Meeting.</li><li>The very nature of this business demands continuous investment in product and technology development, he said.</li><li>Jaguar Land Rover's depleting fortunes have been a big drag on Tata Motors.</li></ul>British luxury car maker Jaguar Land Rover (JLR) has been a white elephant for Tata Motors. Revenue from JLR fell by a billion dollars in the year ending March 2019 and made profit in only one of the four quarters last year. Last year, Tata Motors had to take an impairment-- write down the value-- of ₹27,838 crore due to weak sales and profitability at JLR. Things continue to look bleak even after 4,500 jobs were axed. This posed a question in front of N Chandrasekharan, the Chairman of the group's parent Tata Sons, on how long will the conglomerate continue to back the bleeding giant. "A company cannot shut the cash tap as the very nature of this business demands continuous investment in product and technology development," he <a href="https://www.indiatvnews.com/auto/cars-jaguar-land-rover-looking-for-financial-partnership-in-china-tata-chairman-n-chandrasekaran-539207" data-type="tilCustomLink" target="_blank">reportedly</a> said at the Annual General Meeting. "There are many discussions from tactical to strategic for such partnerships. Opportunities are coming and we keep evaluating them and as long as it is in the interest of Tata Motors. We will forge such partnerships so that we are able to address the capex issue," he told the shareholders. Tata Motors has already joined hands with German giant and rival BMW recently for a collaboration for manufacturing electric vehicles under the JLR banner. SEE ALSO: Audi's year of the eight- Audi India MD Rahil Ansari in conversation with Sriram Iyer 
 
 
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 Any recovery for the JLR hinges a lot on how Brexit unfolds. “Uncertainty around an orderly outcome of Brexit negotiations and the evolving global tariffs situation pose risks, in particular to TML's JLR business, which faces a significant level of production-sales mismatch due to concentration of its production base in the UK,” global ratings agency Fitch said while downgrading Tata Motors for JLR's troubles. Aside from Brexit, the US-China trade war and <a href="https://economictimes.indiatimes.com/markets/stocks/news/tata-motors-mulls-selling-stake-in-jlr-agencies/articleshow/68216938.cms">signs</a> of a slowdown in the global economy are also compounding JLR's problems. China has traditionally been one of the biggest markets for the luxury car but sale volumes fell a sharp 29% between April and June this year, compared to the same time last year. A month back, credit rating agency Moody’s had downgraded Tata Motors. In addition to JLR related troubles, Tata Motors’ domestic business is also troubled by a general slowdown in the auto market. In June 2019, Tata Motors <a href="https://www.moneycontrol.com/news/business/companies/tata-motors-global-sales-dip-5-in-june-4195251.html">reported </a>a 14% decline in India sales, while a 5% drop was seen in global sales. The stock has lost over 50% of its value in the last one year. 
 
 
 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/cbi-accuses-rolls-royce-of-bribing-hal-ongc-and-gail-officials/articleshow/70451323.cms" data-type="tilCustomLink" target="_blank">Rolls Royce bribed officials in government companies in India, says premier investigation agency</a> <a href="https://www.businessinsider.in/share-price-of-maruti-tata-motors-and-mahindra-fall-as-government-pushes-for-electric-cars/articleshow/70430370.cms" data-type="tilCustomLink" target="_blank">India's push for electric vehicles is haemorrhaging car makers</a> <a href="https://www.businessinsider.in/gst-council-slashes-tax-on-evs-and-ev-chargers/articleshow/70407724.cms" data-type="tilCustomLink" target="_blank">Buy electric vehicles for less now, GST council slashes rate from 12% to 5%</a> <a href="https://www.businessinsider.in/nissan-may-lay-off-over-1700-employees-in-india/articleshow/70389996.cms" data-type="tilCustomLink" target="_blank">Nissan may lay off over 1,700 employees in India as car sales slow down</a> <a href="https://www.businessinsider.in/Top-10-electric-cars-that-people-are-excited-about/Tesla-Model-X-507990-searches/slideshow/70404198.cms" data-type="tilCustomLink" target="_blank">Top 10 electric cars that people are excited about</a>

Tata Motors is looking for partnerships to revive Jaguar Land Rover

<ul class="summary-list"><li>Warren Buffett is a famed investor, one of the richest people alive, and the CEO of a huge company.</li><li>Buffett's Berkshire Hathaway owns scores of businesses and massive stakes in Apple and Coca-Cola.</li></ul>Warren Buffett is a business icon, a world-famous investor, and one of the wealthiest men alive. Here's a quick introduction to the legendary stock picker ahead of <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a>'s annual meeting.<h2>Who is Warren Buffett?</h2>Warren Buffett is the chairman and CEO of Berkshire Hathaway, one of the world's largest public companies with a market value of about $700 billion.Buffett's nearly 16% stake in the conglomerate accounts for the vast majority of his personal fortune of about $110 billion. His net worth ranks him among the top 10 individuals on the <a href="https://www.bloomberg.com/billionaires/" target="_blank" rel="noopener">Bloomberg Billionaires Index</a>.Berkshire owns scores of businesses including <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-dream-business-is-sees-candies-2019-7-1029916323">See's Candies</a>, Dairy Queen, Duracell, Geico, Fruit of the Loom, the BNSF Railway, and Berkshire Hathaway Energy. It also boasts a roughly $300 billion stock portfolio, which includes multibillion-dollar stakes in Apple, Bank of America, Coca-Cola, Kraft Heinz, and American Express.Buffett, who turned 92 in August 2022, acquired Berkshire Hathaway when it was a failing textile mill in 1965. He specializes in spotting undervalued businesses, and has leveraged that skill to buy high-quality stocks and companies on the cheap, and turn Berkshire into a hugely diversified conglomerate.Buffett's nose for bargains has allowed him to grow Berkshire's value per share by <a href="https://berkshirehathaway.com/letters/2022ltr.pdf" target="_blank" rel="noopener">almost 3,800,000%</a>, or nearly 20% a year, since 1965.The investor and his business partner, 99-year-old Charlie Munger, pioneered a corporate structure of decentralized, autonomous subsidiaries. Berkshire's businesses employ more than 400,000 people, but only around 25 work in its headquarters, as its subsidiaries operate independently with minimal oversight.Buffett and Munger focus on taking the profits from their businesses, allocating the capital where it's needed within Berkshire, and using some of the spare cash to acquire more businesses and buy shares in public companies.Notably, they invest the "float" — the money left over after premiums are collected and claims are paid out — from their insurance businesses, which saves them from having to raise outside capital or use debt.The investor has closed numerous high-profile deals during his career. For example, he made critical investments in <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-goldman-sachs-sale-billions-return-bailout-2020-5-1029212109">Goldman Sachs</a>, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-invested-3-billion-general-electric-ge-2008-crisis-2020-6-1029327040">General Electric</a>, and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-loaned-300-million-harley-davidson-2009-financial-crisis-2020-6-1029306090">other companies</a> during the financial crisis.Buffett preaches an honest, straightforward approach to business based on trust. He also emphasizes a long-term, ownership mentality among Berkshire's subsidiary CEOs and directors.Moreover, he puts a great onus on financial prudence — Berkshire always maintains at least $30 billion in cash and cash equivalents so it can weather any surprises or catastrophes.In 2006, Buffett embraced philanthropy by signing the Giving Pledge, a commitment to donate the majority of his wealth to good causes. He plans to give away more than 99% of his fortune, and has <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-stock-gifts-philanthropy-charity-sherwood-novo-2022-11">already gifted</a> more than half of his Berkshire shares to the Gates Foundation and four family foundations.Beyond his investing prowess, business interests, and charitable giving, Buffett is known for his <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-diet-mcdonalds-coke-junk-food-soda-ice-cream-2023-4">child-like diet</a>. The billionaire eats McDonald's for breakfast, guzzles five cans of Coke daily, and subsists on hamburgers, hot dogs, cookies, ice cream, and other indulgent foods.Buffett is also famous for his yearly letter to Berkshire shareholders, and his annual shareholder meeting. He uses both to not only trumpet Berkshire's success, but also to teach people how to make smart financial decisions, and to call out bad behavior across the corporate world.The Berkshire chief is hugely influential as well. He's mentored everyone from Airbnb CEO Brian Chesky to GameStop chairman Ryan Cohen, and rapper Jay-Z to retired baseball star A-Rod.Moreover, business leaders ranging from Google cofounders Larry Page and Sergey Brin to SoftBank CEO Masayoshi Son have studied Berkshire and emulated its structure at their companies.

Who is Warren Buffett? Here's an intro to the business icon ahead of Berkshire Hathaway's annual meeting

Every year, since <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> became the Chairman of <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword> in December 2012, he has held an annual meeting on 29th July, in which he talks with his top management of all the 100-plus group companies. The aim of this meeting is to plan a strategy for the coming year and if sources are to be believed, this time the agenda would be to discuss the changes in work culture and its prominent role in the organisation. 
 
A select few employees from across the several group companies have been asked to study the group’s work culture so that they can suggest changes needed which would help them keep pace with the changing times and business environment. 
 
"A group-wide diagnostic culture study is being undertaken in which most leading Tata companies are participating. The purpose of the study is to understand the culture as perceived, experienced and felt by our people across the organisational hierarchy," said NS Rajan, group chief human resource officer at Tata Sons. "This would help us to reinforce our understandings of the facets that define us, who we are and what we aspire to be." 
 
In the meeting, the kind of leadership required and the salary structures to attract the best talent will be discussed as a part of the work culture, on the sideline of the aim to become $350 billion business group by 2025. 
 
This kind of exercise to discuss work culture is happening for the first time, which is why selected companies have already started doing their homework about it. 
 
It was last year that the group had rolled out a series of initiatives to develop its leadership pipeline, in collaboration with global consulting firm EY. Looks like this year, it’s going to be more about how they can retain their top management. 
 
<a href="http://assets.bwbx.io/images/users/iqjWHBFdfxIU/icBPbrwzJF44/v1/1200x-1.jpg">Image source</a>

Tata’s work culture may get a makeover as Cyrus Mistry is considering an overhaul

(Eds: Adding more details) 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 Tata Teleservices 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. He later also met Telecom Secretary Anshu Prakash.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, whereas the government's calculation put Tata Teleservices' dues at about Rs 14,000 crore. A senior government official asserted 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 its AGR calculation, the official said.With the sector reeling under the impact of statutory dues burden, Vodafone Idea Chairman Kumar Mangalam Birla also met Finance Minister Nirmala Sitharaman last Tuesday.In all, 15 telecom entities owe the government Rs 1.47 lakh crore in unpaid statutory dues -- Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges. Of the estimated dues that include interest and penalty for late payments, Airtel and Vodafone Idea account for about 60 per cent. These dues arose after the Supreme Court, in October last year, upheld the government's position on including revenue from non-core businesses in calculating the annual Adjusted Gross Revenue (AGR) of telecom companies, a share of which is paid as licence and spectrum fee to the exchequer. The Supreme Court, earlier this month, rejected a plea by mobile carriers such as Bharti Airtel and Vodafone Idea for extension in the payment schedule and asked companies to deposit their past dues for spectrum and licences.Since the February 14 tongue-lashing Supreme Court gave telecom companies for missing its previous deadline of January 23 to pay past dues as well as the Department of Telecommunication for failing to enforce it, firms and Telecom Ministry are busy doing separate maths on the actual dues.Vodafone Idea, which is confronted with Rs 53,000 crore in statutory dues as per DoT's calculation, has so far paid only seven per cent of those dues in two tranches. Airtel has paid Rs 10,000 crore out of its DoT estimated liability of over Rs 35,000 crore. Tata Teleservices has paid Rs 2,197 crore, the entire outstanding it believes to have arisen after the October ruling of the apex court for calculating dues.Meanwhile, the government is also asking telecom companies including Vodafone Idea, Bharti Airtel and Tata Teleservices to submit supporting documents on AGR self-assessment, that formed the basis of their statutory dues calculation. The exercise will help the DoT examine the AGR calculations being made by the telecom players.Once substantiating documents are filed by the companies, the telecom department will initiate random test checks on the AGR calculation in a time-bound manner. The 'test check' will be done for any one year (of telcos' dues) to examine the deviation between telecom companies' assessment and the government calculation of AGR liabilities.Amid a deepening crisis in the telecom sector, the government is looking to strike a balance between complying with the Supreme Court order on statutory dues, ensuring the health of the sector and safeguarding consumer interest. Bharti Airtel Chairman Sunil Mittal, and VIL's Birla met top government functionaries throughout last week to seek prompt measures that would offer a breather to the troubled sector. Mittal has urged the government for reduction in levies and taxes, as he termed the AGR "an unprecedented crisis for industry". MBI MKJ

Tata Sons chief meets Prasad as DoT prepares to issue notice to TTSL over AGR payment

<ul class="summary-list"><li>Dollar General has 19,147 stores across the US and Mexico and employs more than 163,000 people.</li><li>Roughly 40% of US shoppers are Dollar General customers, making an average of 32 visits per year.</li></ul>Dollar General is one of the leading discount retailers in the US, and the <a href="https://nrf.com/top-100-retailers-2021-list">16th-largest</a> retailer in the world, making sales of $37.8 billion in 2022.The company was founded in 1939 as J.L. Turner and Son Wholesale. The first Dollar General store opened in 1955 in Springfield, Kentucky.Dollar General, now based in Tennessee, has 19,147 stores across the US and Mexico, mostly concentrated in the Sunbelt and Midwest.Roughly 40% of shoppers in the US buy from Dollar General, according to data from the <a href="https://www.numerator.com/">analytics firm Numerator</a> prepared for Insider.Numerator found that Dollar General's typical shopper is an older worker with a high-school education who lives in a two-person household in a rural area and earns less than $40,000 per year. The typical shopper tends to be white, but the store is also popular with Black customers.The company has relatively high customer loyalty — <a href="https://www.businessinsider.com/typical-costco-shopper-demographic-asian-american-woman-earning-high-income-2021-7">on par with Costco</a> — and adds a new customer for each one that stops shopping with the brand.The store aims to offer low prices on brand-name goods, with a smaller store format, and a particular focus on smaller markets with limited shopping alternatives. In its 2022 annual report, the company says its core customers are "low and fixed income households often underserved by other retailers."The typical customer picks up an average of eight items per trip for a total cost of $19.99, and tends to visit 32 times per year for an annual expense of $641, Numerator found. Annual visits are up from 25 the year before, and the company says that rate is accelerating as high inflation draws shoppers to its stores.About 2.3% of their overall spending takes place at Dollar General — behind other retailers including <a href="https://www.businessinsider.com/typical-walmart-shopper-demographic-white-woman-earning-middle-income-2021-7">Walmart</a> and <a href="https://www.businessinsider.com/typical-amazon-shopper-demographic-educated-woman-earning-middle-income-2021-7">Amazon</a>, where they spend more.Their favorite products to buy at Dollar General are candy, chips, and sodas, and they prefer brands like Coca-Cola, Reese's, and Lays.More than three-quarters of Dollar General's revenue comes from consumables, like foods and drinks, although it makes a lower profit margin on those products. The rest of its sales come from apparel and home products, and its highest profits come from seasonal items.<h2><a href="https://www.businessinsider.com/category/numerator">Read more typical shopper profiles:</a></h2><ul><li>Walmart: <a href="https://www.businessinsider.com/typical-walmart-shopper-demographic-white-woman-earning-middle-income-2021-7">A 59-year-old white suburban woman earning $80,000 a year</a></li><li>Costco: <a href="https://www.businessinsider.com/typical-costco-shopper-demographic-asian-american-woman-earning-high-income-2021-7">A 39-year-old Asian American woman earning more than $125,000 a year</a></li><li>Target: <a href="https://www.businessinsider.com/typical-target-shopper-demographic-white-millennial-woman-earning-middle-income-2021-7">A millennial suburban mom with a household income of $80,000</a></li><li>Whole Foods: <a href="https://www.businessinsider.com/typical-whole-foods-shopper-demographic-millennial-woman-earning-middle-income-2021-8">A highly educated West Coast millennial woman earning $80,000</a></li><li>Amazon: <a href="https://www.businessinsider.com/typical-amazon-shopper-demographic-educated-woman-earning-middle-income-2021-7">A college-educated married woman in the South earning $80,000</a></li></ul>

Meet the typical Dollar General customer: An older rural worker with a high school education and an income of less than $40,000

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

<ul><li>The five businesses that made the most <keyword id="6355005" type="UNKNOWN" weightage="20" keywordseo="news">news</keyword> in the year are <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>, <keyword id="6358200" type="ORGANIZATION" weightage="20" keywordseo="jet-airways">Jet Airways</keyword>, Amazon India, <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> and <keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">Indigo</keyword> Airlines.</li><li>A report made by the technology led PR platform Wizikey shared insights into what made these companies the newsmakers of 2019. </li><li>From Reliance’s AGM to Jet Airways downfall, it was a mix of good and bad that brought these companies in the news.</li></ul>2019 was a year of headlines – from Indian general elections to the economic slowdown. Businesses have been at the receiving end – from those which shut shop to those that opened new doors to success. The top five businesses that generated the most news are Reliance Industries, Jet Airways, Amazon India, Tata Sons and Indigo Airlines, according to a report by the technology-led PR platform Wizikey. They stayed in the news for both good and bad reasons. Reliance Industries Mukesh Ambani-led Reliance recently created history in the stock market with its market cap crossing ₹10 lakh crore. It was the first Indian company to do so. But that wasn’t the only news that caught everyone’s attention. The stock and the company has been buzzing especially during the second half of the year. According to the Wizikey report, Reliance holds the credit for one-third of the total news created by the top 5 companies. The busiest news month for the company was in August, when it held its annual general meeting. At the AGM, Ambani made major announcements -- like fundraising apart from unveiling next-gen technology. <div type="Article" hostid="261" msid="70638299" title="Mukesh Ambani's speech at the Reliance Industries AGM had ten big takeaways" mstype="2" mssubtype="0"></div>

 Jet Airways The Indian airlines shut shop in April this year and not surprisingly, that was the month it was mentioned the most. The report said that the most common buzzwords around Jet Airways were “flight cancellation, aircraft grounding, insolvency proceedings, debt resolution and management takeover”. <div type="Article" hostid="261" msid="69878191" title="It’s official-- Jet Airways is bankrupt, declares a Indian court on the same day the share price jumped 93%" mstype="2" mssubtype="0"></div>

 IndiGo Accompanying Jet Airways in the newsmakers sector, was one of India’s largest airlines – IndiGo. Having gained from the collapse of Jet Airways, with more bookings coming its way, IndiGo too had its fair share of trouble. A feud between its founders Rahul Bhatia and Rakesh Gangwal over company’s control took an ugly turn. Both of them had landed in the courts in July 2019, after Gangawal’s sensational expose on the workings of the airline. <div type="Article" hostid="261" msid="71740625" title="Indigo debt has swollen by seven times in one year" mstype="2" mssubtype="0"></div>

 Amazon India Amazon India has been generating both good and bad news this year. “Amazon saw itself being mentioned the most throughout the year - for all the wrong reasons,” said the Wizikey report. October was the month of most mentions, after the Department for Promotion of Industry and Internal Trade called in the e-commerce giant for its <a href="https://www.businessinsider.in/business/ecommerce/news/headline-amazon-dismisses-deep-discounts-and-says-sellers-set-their-own-pricesamazon-dismisses-deep-discounts-and-says-sellers-set-their-own-prices/articleshow/72450155.cms">deep discounts</a> and possible foul play. But it was also the festive month, where Amazon’s great sales kept it in the news. <div type="Article" hostid="261" msid="70222978" title="Amazon India sets up ‘war rooms’ to handle Prime Day pressure" mstype="2" mssubtype="0"></div>

 Tata Sons Tata Sons owe their “newsy” year to one person – Dr Subrahmanyam Jaishankar, when he was appointed the Minister for External Affairs. Jaishankar held the post of President, Global corporate affairs at Tata Sons, which is why his appointment in the ministry shared the spotlight on the company. But that’s not all. “Rumours around Jaguar being sold to BMW saw Tata mentioned in the news early in the year,” said the report. Tata’s interest in Jet Airways too got them a lot of space in the papers. <div type="Article" hostid="261" msid="71802900" title="Not just Tata Motors, a lot of other companies are excited by Jaguar Land Rover numbers" mstype="2" mssubtype="0"></div>

Mukesh Ambani’s Reliance, Jet Airways and other top newsmakers of 2019

The shareholders of <a href="http://www.businessinsider.in/searchresult.cms?query=tata+sons&amp;sortorder=effectivedate">Tata Sons </a>unanimously removed <a href="http://www.businessinsider.in/searchresult.cms?query=cyrus+mistry&amp;sortorder=effectivedate">Cyrus Mistry</a> as director of the company during the extraordinary general meeting. 
 
The shareholders passed a resolution with requisite majority. 
 Last month, <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword> had called for an extraordinary general meeting (EGM) to remove Mistry from its board. 
 
However, Mistry had legally challenged the move. 
 
Last week, the <a href="http://www.businessinsider.in/searchresult.cms?query=NCLAT&amp;sortorder=effectivedate">National Company Law Appellate Tribunal</a> (NCLAT) had dismissed petitions by two investment firms, backed by Mistry family, against holding the EGM. 
 Mistry camp had moved the NCLAT after the Mumbai bench of <keyword id="6354457" type="ORGANIZATION" weightage="20" keywordseo="National-Company-Law-Tribunal">National Company Law Tribunal</keyword> (NCLT) had on January 31 refused to grant any relief. 
 
Tata Sons had abruptly removed Mistry as its chairman on October 24 last year and sought his ouster from operating companies like Tata Motors and TCS. Mistry subsequently resigned from the board of six companies but dragged Tata Sons and his interim successor <a href="http://www.businessinsider.in/searchresult.cms?query=ratan+tata&amp;sortorder=effectivedate">Ratan Tata </a>to the NCLT.

Cyrus Mistry removed as Tata Sons’ director

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

Cyrus Mistry owns Rs 1,000 crore worth TCS shares

A day after resigning from the boards of six listed Tata firms, <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> today took the legal route in his fight against the Tatas by filing suit in National Company Law Tribunal against <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>. 
 
According to sources, Mistry's family-controlled investment firms today moved the National Company Law Tribunal (NCLT) in Mumbai against Tata Sons. 
 
The petition was against oppression and mismanagement of Tata Sons under Section 241 of the Companies Act, the the sources added. 
 
The first hearing by NCLT on the petition is slated for December 22, they said. 
 While resigning from the boards of the <keyword id="6355725" type="CITY" weightage="100" keywordseo="Tata-Group">Tata group</keyword> firms yesterday, Mistry had launched a scathing broadside against <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword> and vowed to shift his fight to a "larger platform". 
 
"Having deeply reflected on where we are in this movement for cleaning up governance and regaining lost ethical ground, I think it is time to shift gears, up the momentum, and be more incisive in securing the best interests of the Tata Group," Mistry had said. 
 
He further said that with this thought in mind, he "decided to shift this campaign to a larger platform and also one where rule of law and equity is upheld". 
 
Mistry, who had continued to be on boards of operating companies even after his ouster as chairman of the holding company Tata Sons on October 24, had again raked up "breakdown of governance" and questionable dealings including release of more funds to airline venture Air Asia under interim chairman Ratan Tata despite "findings of fraud and wrong-doing". 
 His resignation came ahead of five Tata companies -- Indian Hotels, <keyword id="6357147" type="CITY" weightage="100" keywordseo="Tata-Steel">Tata Steel</keyword>, Tata Motors, <keyword id="45008" type="CITY" weightage="100" keywordseo="Tata-Power">Tata Power</keyword> and Tata Chemicals -- calling extraordinary general meetings starting from today to oust him as a director on company boards after Ratan Tata, a scion of the conglomerate's founding family, replaced him as chairman of the group's holding company.

Cyrus Mistry moves National Company Law Tribunal against Tata Sons

Two days after he was removed from <keyword id="6357147" type="CITY" weightage="20" keywordseo="Tata-Steel">Tata Steel</keyword> with 71.20 per cent votes going against him, shareholders of <keyword id="42747" type="CITY" weightage="100" keywordseo="Tata-Motors">Tata Motors</keyword> have now overwhelmingly voted to remove independent director <keyword id="6500654" type="PERSON" weightage="100" keywordseo="Nusli-Wadia">Nusli Wadia</keyword> from the company's board. 
 As many as 146.28 crore shares out of 205.45 crore votes polled voted in favour of a resolution brought by the company's main promoter <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> for removing Wadia. 
 Notably, he has been accused of siding with the estranged chairman <keyword id="844080" type="UNKNOWN" weightage="20" keywordseo="Cyrus-P-Mistry">Cyrus P Mistry</keyword> and rallying independent directors against Tata Sons. 
 
Out of 293.8 crore shareholders, 205.45 crore or 69.93 per cent participated in the voting on the resolution, according to a regulatory filing by the company. Those voting against the resolution made up for 28.80 per cent shares. 
 
On Wednesday, Wadia was removed as independent director from Tata Steel board, which he served for 37 years, with 90.8 per cent of the shareholders present and voting at the company's extraordinary general meeting voting in favour of the resolution moved by Tata Sons seeking his removal. 
 
Wadia did not attend both the meetings, calling them stage-managed. He further went on to file a <a href="http://www.businessinsider.in/now-nusli-wadia-files-defamation-case-against-tata-sons-ratantata/articleshow/56140677.cms">Rs 3,000-crore defamation suit against Ratan Tata and Tata Sons.</a>

Now, Tata Motors shareholders vote to oust Nusli Wadia from company's board

The Tata tussle took a big turn today after <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> resigned from 6 group companies, saying he was shifting this battle to a larger platform. 
 "I think it is time to be more incisive in the best interest of <keyword id="6355725" type="CITY" weightage="100" keywordseo="Tata-Group">Tata Group</keyword>. Nothing cogent has been forthcoming from the Tata's on my ouster. I am removing myself from the general meetings. I am shifting this battle to a larger platform," he said in a letter. 
 
Mistry on his own holds 1,28,625 shares in the company, as per IHCL's 2015-16 Annual Report. 
 In <keyword id="6357147" type="CITY" weightage="100" keywordseo="Tata-Steel">Tata Steel</keyword>,Tata Sons holds 29.75 per cent while the total of promoter and promoter group holding is 31.35 per cent while non-promoter shareholder LIC holds 13.62 per cent. 
 <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword> holds 26.51 per cent stake in Tata MotorsBSE -0.17 %, while the overall promoter and promoter group holding is at 33 per cent, while that of LIC is at 5.11 per cent. Mistry holds 14,500 shares in his individual capacity. 
 
On the other hand, in Tata ChemicalsBSE 2.26 %, Tata Sons has 19.35 per cent stake and the total of promoter and promoter group holding is at 30.80 per cent, while that of LIC is 3.33 per cent. Mistry's holding is 16,000 shares.

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