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<ul><li>The National Company Law Appellate Tribunal (NCLAT) ruled that Cryus Mistry’s removal as <keyword id="3932388" type="PERSON" weightage="20" keywordseo="Chairman-of-Tata-Sons">chairman of Tata Sons</keyword> was illegal.</li><li><keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> has four weeks to appeal the decision at Supreme Court.</li><li>The NCLAT order appears to even go beyond the specific reliefs sought by Mistry, the Tata Sons statement said</li></ul>The National Company Law Appellate Tribunal (NCLAT) ruled that <keyword id="6356895" type="ORGANIZATION" weightage="20" keywordseo="cyrus-mistry">Cyrus Mistry</keyword>’s <a href="https://www.businessinsider.in/business/corporates/news/cyrus-mistry-can-return-as-tata-sons-chairman-three-years-after-he-was-thrown-out-by-ratan-tata/articleshow/72868406.cms">removal as chairman from Tata Sons was illegal</a> and has directed the company to <a href="https://www.businessinsider.in/thelife/personalities/news/cyrus-mistry-net-worth-and-full-profile/articleshow/72870160.cms">hand him back his position</a>. However, the court has a left window of four weeks for Tata Sons to appeal at the Supreme Court. As it seems right now, the salt-to-software conglomerate, which also owns companies like the luxury car maker Jaguar Land Rover and the British tea brand Tetley is in no mood to give up. "It is not clear as to how the NCLAT Order seeks to over-rule the decisions taken by shareholders of Tata Sons and listed Tata operating companies at validly constituted shareholder meetings. The NCLAT order appears to even go beyond the specific reliefs sought by the Appellant," the company’s spokesperson told Business Insider. But Mistry sees this as a clear win. "Today's victory is not a personal victory for me, but is a victory for the principles of good governance and minority shareholder rights," he said a statement shared with the press. The Tata vs Mistry battle is far from over Within two months of his dismissal, Mistry’s family-run investment firms approached the NCLT. Mistry’s primary argument was that his removal as chairman of Tata Sons violated the Companies Act by forcing him to leave without ‘due process’ being followed and also accused the Board of ‘oppression and mismanagement’. While the lower court, the NCLT, had turned down Mistry’s appeal, today’s victory at the appellate tribunal gives Mistry a second chance to prove his charges against the Board and Ratan Tata. "The outcome of the appeal is a vindication of my stand taken when the board of Tata Sons, without warning or reason removed me, first as executive chairman, and subsequently as director of Tata Sons," he said. One of India’s biggest corporate disputes may be tested at the country’s highest court soon. 
	

	
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 See also: <a href="https://www.businessinsider.in/business/corporates/news/cyrus-mistry-can-return-as-tata-sons-chairman-three-years-after-he-was-thrown-out-by-ratan-tata/articleshow/72868406.cms">Cyrus Mistry can return as Tata Sons Chairman three years after he was thrown out by Ratan Tata</a> <a href="https://www.businessinsider.in/business/corporates/news/cyrus-mistry-still-has-to-prove-the-charges-against-ratan-tata-and-tata-sons-board/articleshow/72868673.cms">First Cut: The legal implications of Mistry's victory in the case against Tata Sons</a> <a href="https://www.businessinsider.in/thelife/personalities/news/cyrus-mistry-net-worth-and-full-profile/articleshow/72870160.cms">The volatile fortunes of low-profile Cyrus Mistry who was made the Chairman of Tata Sons only to be ousted soon after — now he’s fighting his way back</a>

Tata Sons says the court gave Cyrus Mistry more than he wanted

<ul><li><keyword id="6356895" type="ORGANIZATION" weightage="20" keywordseo="cyrus-mistry">Cyrus Mistry</keyword> has been reappointed as the <keyword id="3932388" type="PERSON" weightage="20" keywordseo="Chairman-of-Tata-Sons">chairman of Tata Sons</keyword> by the National Company Law Appellate Tribunal (NCLAT).</li><li>Mistry will return to the helm of the Tata conglomerate after a three-year-long battle in courts.</li><li>He was ousted in October 2016 being chairman for nearly four years.</li></ul>Cyrus Mistry will be back at the helm of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> in another four weeks-- if no other legal hurdles stop him. After over three years spent battling in courts, Mistry’s <a href="https://www.businessinsider.in/business/corporates/news/cyrus-mistry-can-return-as-tata-sons-chairman-three-years-after-he-was-thrown-out-by-ratan-tata/articleshow/72868406.cms">removal as chairman </a>was deemed illegal by the National Company Law Appellate Tribunal (NCLAT). As Mistry returns to power, the current executive chairman of the company — N Chandra — might have to look for a new job. Mistry served as Tata Sons chairman just shy of four years before the board removed him from the helm in October 2016. His net worth is currently at $10 billion. Here’s a quick look at Mistry’s journey from being the son of a construction tycoon to leading Tata Sons a second time:

The volatile fortunes of low-profile Cyrus Mistry who was made the Chairman of Tata Sons only to be ousted soon after — now he’s fighting his way back

<a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Group">Tata Group</a> Chairman <a href="http://www.businessinsider.in/searchresult.cms?query=Cyrus+Mistry">Cyrus Mistry</a> wants to groom more industry leaders within the group who can drive profitability for the respective <keyword id="6355725" type="CITY" weightage="60" keywordseo="Tata-Group">Tata group</keyword> companies. This strategy is expected to offer long-term results. As of now, 80% of the group’s profits are from 20% of its companies like Tata Consultancy Services (TCS), Tata Steel and Tata Motors. Mistry wants to change that. 
 
The gains of <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Sons">Tata Sons</a> trebled to Rs 9,062 crore in FY15. However, the total profit grew a mere 5% to Rs 19,180 Crores. This reflects the dividend income of <keyword id="46894" type="PERSON" weightage="80" keywordseo="Tata-Sons">Tata Sons</keyword> and that of the subsidiaries. 
 
Overseas revenue constituted 68% of the profits. The sluggish growth is mainly due to the slack performance of some of its subsidiaries. Even as TCS posted 3.6% growth in net profit for FY15, Tata Motors posted no growth and Tata Steel actually incurred a loss of Rs 3,925 Crores. 
 
The truth is that while the <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Group">Tata Group</a> owns over 100 companies, the group receives most of its profit from two companies. Of the top 10 most profitable companies, TCS and Tata Motors account for over 90% share. 
 
"We do not comment on the financials of <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Sons">Tata Sons</a>," a group spokesperson said. 
 
Image credit: Indiatimes

The reality of Tata Group – Few companies making money,
others less so

<keyword id="154704" type="COMPANY" weightage="100" keywordseo="AIA-Group">AIA group</keyword> has decided to increase its stake in <keyword id="1387165" type="COMPANY" weightage="100" keywordseo="Tata-AIA-Life">Tata AIA Life</keyword> Insurance Company, its Indian life insurance venture with <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>. Earlier, the group held a stake of 26%, which would now be upped to 49%. This deal hints at the growing importance of the Indian insurance market, which as of now stands at $50 billion. 
 
The agreement has been signed by both companies; however, the financial details of the deal were not revealed. The agreement carries a condition that the transaction would be completed subjected to regulatory approvals. 
 AIA group is not the first international group to have invested or increased stake in Indian insurance ventures. In the recent past, we have seen many overseas insurance companies doing so, after the Indian government allowed foreign investments in Indian ventures to 49% in 2015. Just last week, <keyword id="3162838" type="UNKNOWN" weightage="100" keywordseo="Sunlife-Financial-Inc">Sunlife Financial Inc</keyword>, the Canadian insurance major increased its stake to 49% in the venture that it has with the Birla group. 
 
AIA Group Limited along with its subsidiaries comprises the largest independent publicly listed pan Asian life insurance group. It has wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, and Brunei. Other than this, it has a 97% subsidiary in Sri Lanka, a 26% joint venture in India and representative offices in Myanmar and Cambodia. 
 
<a href="http://www.ekarnal.com/wp-content/uploads/2015/02/TATA-AIA-Life-Insurance-Karnal.jpg">Image source</a>

AIA group now owns 49% stake in Tata AIA Life Insurance

<ul><li>Indian tech major, <keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata consultancy services</keyword>, surpassed US tech giant IBM after Monday’s trade. </li><li>Once about to be sold to IBM, <keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword> witnessed 23% increase in brand value in 2018-19, and now stands at $120.5 billion. </li><li>This year, IBM <a href="https://www.bloomberg.com/news/articles/2019-04-16/ibm-results-reflect-slowing-pace-in-cloud-unit-pinned-for-growth">slowed down after reporting a decline</a> in revenue from cloud computing and artificial intelligence, that the company is hanging its future on, according to a Bloomberg report </li></ul> Homegrown technology major Tata Consultancy Services surpassed American tech giant in market value, IBM after Monday trade closed. At the day’s close, TCS’ market capitalization stood at $120.5 billion while that of IBM stood at $119.6 billion, reported the <a href="https://timesofindia.indiatimes.com/business/india-business/with-120-5bn-m-cap-tcs-valued-more-than-ibm/articleshow/69732416.cms">Times of India</a>. The financial year 2018-19 has proved to be a big one for TCS. The company witnessed a 23% increase in brand value. Its market capitalization crossed the $100 billion mark in 2018 to become the world's third largest IT service brand. The tale of two IT majors It is interesting to note that IBM and TCS were partners once. And, IBM had to tried to buy out TCS. IBM, which entered the Indian market first in the 1950’s, decided to leave in the 1970’s due to India’s intentions to take control of foreign subsidiaries. The heart of this decision was India’s Foreign Exchange Regulations Act, which required most of the foreign companies to divest 60% of the equity of their subsidiaries to local shareholders by the end of 1977. IBM again entered the Indian market in 1992, with a Tata joint venture, named Tata Information Systems. A statement from the office of Cyrus Mistry <a href="https://timesofindia.indiatimes.com/business/india-business/Ratan-Tata-wanted-to-sell-TCS-to-IBM-in-90s/articleshow/55570678.cms">claimed</a> on Tuesday, that Ratan Tata once tried to sell TCS to IBM. The statement said that Tata, who was then heading the joint venture between TCS and IBM, had approached JRD Tata, the chairman of TATA Sons, with a proposal from IBM to buy out TCS. This, it said, happened when F.C.Kohli, the founding father of the Indian software industry and then TCS boss, was unwell. But the move was rejected by JRD Tata, after consultations with Kohli.

After becoming the third largest IT service brand in the world, TCS surpasses IBM in market cap

<keyword id="8187544" type="COMPANY" weightage="20" keywordseo="tata-digital">Tata Digital</keyword>, a subsidiary of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword>, on Monday announced to invest up to $75 million in fitness startup <keyword id="3465872" type="COMPANY" weightage="20" keywordseo="curefit">CureFit</keyword>. <keyword id="705865" type="PERSON" weightage="20" keywordseo="Mukesh-Bansal">Mukesh Bansal</keyword>, CureFit Founder and CEO, will join Tata Digital as President, Tata Digital. In addition, he will continue in his leadership role at CureFit, the company said in a statement. "The CureFit partnership with its industry leading platform in fitness and wellness aligns very well with our overall healthcare proposition where fitness is increasingly becoming an <keyword id="1261040" type="PERSON" weightage="20" keywordseo="integral-part">integral part</keyword> of a consumers' life," said <keyword id="161053" type="PERSON" weightage="20" keywordseo="N-Chandrasekaran">N. Chandrasekaran</keyword>, Chairman Tata Sons. Tata Digital set up its operations in August 2019, to build consumer centric digital businesses for deep consumer engagement and their needs across multiple verticals. On the other hand, CureFit is a leading player in a fitness and wellness market that is growing at 20 per cent per annum and is expected to reach $12 billion by 2025. Before the today's announcement, CureFit had raised nearly $418 million. "Being part of Tata Digital will enable us to nationally scale up our offerings for our customers. Tata Digital has highly inspiring vision to create next generation consumer platform and I am very excited to be part of Tata Digital team that is shaping this vision," said Bansal. Curefit offers a holistic range across fitness and yoga, mental wellbeing, healthy meals, and consultations, diagnostics as well as personal training. "Tata digital partnership will significantly accelerate Cure.fit's growth as a fitness and wellness leader and it will open up access to large set of new consumer base," said <keyword id="145348" type="PERSON" weightage="20" keywordseo="Sudhir-Sethi">Sudhir Sethi</keyword>, Chairman Chirate Ventures from CureFit board. SEE ALSO: <a href="https://www.businessinsider.in/india/news/heres-why-fuel-prices-in-india-may-not-come-down-in-a-big-way/slidelist/83299743.cms">Here’s why fuel prices in India may not come down in a big way ⁠— at least not this year</a>

Tata Digital to invest $75 million in fitness startup CureFit

<keyword id="8187544" type="COMPANY" weightage="20" keywordseo="tata-digital">Tata Digital</keyword> Limited, a subsidiary of Tata Sons Private Ltd will acquire majority stake in digital health company <keyword id="2962726" type="PERSON" weightage="20" keywordseo="1mg">1MG</keyword> Technologies Private Ltd (1MG). Incorporated in 2015, 1MG is a leading player in the <keyword id="1324270" type="COMPANY" weightage="20" keywordseo="eHealth">eHealth</keyword> space and enables easy and affordable access to a wide range of products like medicines, health &amp; wellness products, diagnostics services and tele-consultation to customers. The company operates three state-of-the-art diagnostics labs, has a supply chain covering over 20,000 pin codes across the country and through its subsidiaries is also engaged in the business of B2B distribution of medicines and other healthcare products. The investment in 1MG is in line with <keyword id="6355725" type="COMPANY" weightage="20" keywordseo="tata-group">Tata Group</keyword>'s vision of creating a digital ecosystem which addresses the consumer needs across categories in a unified manner. E-pharmacy, e-diagnostics and tele-consultation are critical segments in this ecosystem and have been among the fastest growing segments in this space, as this sector enabled access to healthcare through the pandemic, said a joint statement by Tata Digital and 1MG. Pratik Pal, CEO of Tata Digital, said: "The investment in 1MG strengthens Tata's ability to provide superior customer experience and high quality healthcare products &amp; services in e-pharmacy and e-diagnostics space through a technology led platform." Prashant Tandon, <keyword id="1718234" type="COMPANY" weightage="20" keywordseo="Co-Founder-CEO">Co-Founder &amp; CEO</keyword>, 1MG, said: "We are delighted to join hands with one of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>'s most iconic &amp; respected conglomerates. This marks a significant milestone in 1MG's journey to make high quality healthcare products &amp; services accessible to customers across India." SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/here-are-the-coolest-ios-15-features-coming-to-iphones/slidelist/83362145.cms" style="">Here are the coolest iOS 15 features coming to iPhones</a> <a href="https://www.businessinsider.in/cryptocurrency/news/paraguay-could-become-the-second-country-to-adopt-bitcoin/articleshow/83363776.cms" style="">After El Salvador, Paraguay considers Bitcoin adoption</a> <a href="https://www.businessinsider.in/careers/news/google-microsoft-apple-and-many-others-are-hiring-for-various-it-roles-in-india/articleshow/83365305.cms">Google, Microsoft, Apple and many others are hiring for various IT roles in India —data scientists and cloud architects in high demand</a>

Tata Digital to buy majority stake in online pharma startup 1MG

Greater Noida, Feb 5 () Tata Sons Chairman N Chandrasekaran said on Wednesday it is "too early" to take a call on Air India, in which the government has decided to sell its entire 100 per cent stake. "It is too early..." Chandrasekaran told when asked if Tata Group would be putting bid for the Air India stake purchase at the Auto Expo here. The comments came in the wake of reports in a section of media saying that Tatas appear to be moving closer to a decision to bid for Air India in partnership with Singapore Airlines. The Tata group has already started working on the structure for such buyout, including a merger of AirAsia India, in which they hold 51 per cent in Air India Express, a 100 per cent subsidiary of the government-owned national carrier. The Central government last month issued a preliminary information memorandum (PIM), initiating the process to divest its entire stake in the national air carrier. IAS RKL MSS HRS

It's too early to take a call on Air India: Tata Sons chief

New Delhi, Feb 20 () Tata Realty and Infrastructure Ltd (TRIL), a subsidiary of Tata Sons, on Thursday announced the appointment of Ritesh Sachdev as senior vice-president and head (commercial leasing and asset management). Prior to this, Sachdev was associated with Colliers International as the head of occupier services (India) and Managing Director (South India). He has over 20 years of experience in the real estate sector. "The commercial real estate sector in India is on the path of unprecedented growth. We, at TRIL, have already aligned our business strategy towards these developments in the commercial real estate sector. "We have planned the launches of two IT centres, Intellion Park and Intellion Edge in Gurgaon, as well as the upcoming Intellion Park in Mumbai," said Sanjay Dutt, MD &amp; CEO, TRIL. Sachdev is a civil engineering graduate (B.E.), and a masters in business administration from the University of Leeds. MJH HRS

Tata Realty appoints Ritesh Sachdev as senior VP, head for commercial leasing

<ul><li>According to reports, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> was planning to sell a minority stake in <keyword id="6354362" type="ORGANIZATION" weightage="20" keywordseo="Jaguar-Land-Rover">Jaguar Land Rover</keyword>. </li><li>JLR had reported a massive loss of $3.4 billion in December. </li><li>Stocks of <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> Motors had fallen by 17% in early February. </li></ul>Tata Motors has denied reports that it is exploring a minority stake sale in its British subsidiaries <keyword id="42034" type="COMPANY" weightage="20" keywordseo="Jaguar">Jaguar</keyword> and <keyword id="44719" type="PERSON" weightage="20" keywordseo="Land-Rover">Land Rover</keyword>. According to an <a href="https://economictimes.indiatimes.com/markets/stocks/news/tata-motors-mulls-selling-stake-in-jlr-agencies/articleshow/68216938.cms">ET report</a>, the auto company is reportedly also looking at a joint venture partnership. “There is no truth to the rumours that the company is looking to divest its stake in JLR,” Tata Motors told Business Insider, declining to comment further on “market speculation.” For the quarter ending December 31, Tata Sons’ Jaguar Land Rover <a href="https://www.forbes.com/sites/neilwinton/2019/02/07/jaguar-land-rover-hit-by-big-loss/#2852de8aa0a8">saw </a>a loss of $3.4 billion following a big write-down. It was also in cost cutting mode, and reportedly axed 4,500 jobs late last year. The <a href="https://economictimes.indiatimes.com/markets/stocks/news/tata-motors-mulls-selling-stake-in-jlr-agencies/articleshow/68216938.cms">ET report</a> also states that Brexit, US-China trade war and signs of a slowdown in the global economy could be the reasons for the losses incurred by JLR. China, which has traditionally been one of the biggest markets for the luxury car. The division saw a drop in sales volume by 47% which also affected the company deeply. In early February, its record losses also resulted in Tata Motors stock <a href="https://www.businessinsider.in/tata-motors-stock-price-falls-after-record-loss-due-to-jlr-troubles-in-china-and-uk/articleshow/67894956.cms">falling</a> by 17% which also resulted in analysts cutting its earnings estimate by 35%. Tata Motors had acquired the Jaguar Land Rover businesses from Ford Motor Company in 2008 for a net consideration of US $2.3 billion in an all-cash transaction. See Also: <a href="https://www.businessinsider.in/tata-motors-stock-price-falls-after-record-loss-due-to-jlr-troubles-in-china-and-uk/articleshow/67894956.cms">Tata Motors loses over a billion dollars in market value</a> <a href="https://www.businessinsider.in/tata-motors-jaguar-land-rover-unit-is-a-major-casualty-of-the-us-china-trade-war/articleshow/66130634.cms">Tata Motors’ Jaguar Land Rover unit is a major casualty of the US-China trade war</a>

Tata Motors denies reports it is exploring stake sale in Jaguar Land Rover

<ul><li><keyword id="6602160" type="UNKNOWN" weightage="20" keywordseo="ola-electric-mobility">Ola Electric Mobility</keyword> has raised series A round of funding from <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>. </li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> Electric had raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India.</li><li>The investment will help Ola achieve its plan to bring 1 million Electric Vehicles on Indian roads by 2021. </li></ul>Ola Electric Mobility has raised an undisclosed amount from Ratan Tata in a series A round of funding. Ola Electric is a subsidiary of ANI Technologies Pvt Ltd, which is Ola’s parent company. Two months earlier in March 2019, Ola Electric had raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India. Tata is also an existing investor in Ola. “The <keyword id="381751" type="ORGANIZATION" weightage="20" keywordseo="Electric-vehicle">electric vehicle</keyword> ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development. I have always admired the vision of <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword> and I’m confident that this will be part of yet another important strategic move into this new business area,” said Ratan Tata, Chairman Emeritus of Tata Sons. Interestingly, Tata Group’s Tata Motors is also an early adopter of electric vehicles with its Tata Tigor EVs. The investment will further help Ola achieve its plan to bring 1 million Electric Vehicles on Indian roads by 2021. In an official statement, the company said that Tata’s investment is a significant endorsement of the company’s approach to developing an electric mobility ecosystem, including innovations in charging infrastructure, swapping models, and market-appropriate products. Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments. The Electric Vehicle industry has been heating up in India with large automakers like Maruti Suzuki, Mahindra and Mahindra and Tata Motors marking their entry in the segment. Maruti Suzuki has also <a href="https://www.thehindu.com/business/Industry/steering-away-from-diesel/article27035520.ece">announced</a> that it will be phasing out its diesel vehicles by 2020, which could possibly lead to the company producing more EVs. See Also: <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?</a> <a href="https://www.businessinsider.in/ola-report-indias-ev-mission-needs-two-wheelers-three-wheelers/articleshow/69035515.cms">India's EV mission will be incomplete without two wheelers and tuk tuks but not without a few speed bumps</a>

Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount

<keyword id="42747" type="CITY" weightage="100" keywordseo="Tata-Motors">Tata Motors</keyword> wants to expand its business to <a href="http://www.businessinsider.in/searchresult.cms?query=Slovak+Republic+">Slovak Republic</a> where its subsidiary <a href="http://www.businessinsider.in/searchresult.cms?query=Jaguar+Land+Rover+">Jaguar Land Rover</a> is going to invest $2 billion to build a plant in the first phase. 
 The new plant would help generate more than 50,000 jobs, according to European nation's <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">Economy</keyword> Minister Vazil Hudak. 
 
Hudak said on Thursday: "We are happy to inform you all that the first Indian company to invest in Slovak Republic is Tata's JLR.” 
He was speaking at an interactive meet organised at the <a href="http://www.businessinsider.in/searchresult.cms?query=World+Trade+Centre+">World Trade Centre</a> by the All India Association of Industries (AIAI). 
 
According to him, this move would generate 400 direct jobs at the plant and another 50,000 supplementary jobs in allied sectors. 
 
The minister, who met <a href="http://www.businessinsider.in/searchresult.cms?query=World+Trade+Centre+">Tata Sons</a> chairman <a href="http://www.businessinsider.in/searchresult.cms?query=Cyrus+Mistry+">Cyrus Mistry</a> after the meeting, said this is the best time to invest in the country. 
 
He said political safety and robust economy are the strength of his country and the firm would make benefits. 
 
In August, JLR signed a letter of intent for the potential new plant in Nitra city, western Slovakia. 
 
Speculation is rife on the quantum of investments in the plant, with some media reports pegging it at GBP 1 billion. 
 
Tata Motors is doing a "feasibility study" with the Slovakian government to explore plans for a factory with an installed capacity of up to 3,00,000 vehicles over the next decade, it said, adding, the plant will manufacture aluminium JLR vehicles and start production in 2018. "The move marks the next step in the company's strategy to become a more competitive <keyword id="135771" type="ORGANIZATION" weightage="60" keywordseo="global-business">global business</keyword> by expanding its manufacturing operations into new international locations in the future," it said. 
 
Hudak is leading a delegation seeking Indian investments from the engineering, information technology and automobile components, and also looking for partners to start ventures in automobile, defence, agriculture, pharmaceuticals and renewable energy space, the AIAI statement said. 
 
(Image: Reuters)

You Searched For "tata sons subsidiaries" and got 12 results

Tata Sons says the court gave Cyrus Mistry more than he wanted

Prabhjote Gill

The volatile fortunes of low-profile Cyrus Mistry who was made the Chairman of Tata Sons only to be ousted soon after — now he’s fighting his way back

Prabhjote Gill

The reality of Tata Group – Few companies making money, others less so

BI India Bureau

AIA group now owns 49% stake in Tata AIA Life Insurance

BI India Bureau

After becoming the third largest IT service brand in the world, TCS surpasses IBM in market cap

BI India Bureau

Tata Digital to invest $75 million in fitness startup CureFit

IANS

Tata Digital to buy majority stake in online pharma startup 1MG

IANS

It's too early to take a call on Air India: Tata Sons chief

PTI

Tata Realty appoints Ritesh Sachdev as senior VP, head for commercial leasing

PTI

Tata Motors denies reports it is exploring stake sale in Jaguar Land Rover

Sanchita Dash

Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount

Sanchita Dash

Tata Motors is marching towards Solvakia! Going to invest $2 bn to build a manufacturing plant

BI India Bureau

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