TATA Group
Tata Group was founded in 1867 by Jamsetji Tata and is one of India's biggest conglomerates with its headquarters based in Mumbai. Ratan Tata became the interim CEO after Cyrus Mistry was ousted as the chairman of Tata Sons, the group's holding company. A trust governed the Tata family controls 66% of Tata Sons.
The board, led by Ratan Tata, decided to remove Mistry as the chairman on October 24, 2016, which led to a bitter spat. While Mistry accused Ratan Tata of running the group like his personal fiefdoms, Tatas took the legal route and filed caveats against Mistry and his firm accusing them of embezzlement.
Among the various companies owned by Tatas, one of it is the Tata Steel which after the acquisition of UK-based Corus Steel has became world's largest steel company. National carrier Air India also was first launched by the Tata Group; Tata Airlines founded by Jamsetji was later nationalised and rechristened Air India. Tata Sons along with Singapore Airlines also ventured into airline business with an airline called Vistara which commenced operations on January 9, 2015.
In 2017, there were reports about Tata Group and Bharti Enterprises to get into a major business discussion regarding a mega alliance with their telecom, overseas cable and enterprise services, and direct-to-home TV businesses have been emerging.
As of October 2017, the chairman of Tata Sons, N. Chandrasekaran declared that the company is looking to drastically prune the companies that come under its portfolio and take tough calls on non-performing, debt-laden organizations even as it now aims to be far more disciplined in terms capital allocation in group firms.
The board, led by Ratan Tata, decided to remove Mistry as the chairman on October 24, 2016, which led to a bitter spat. While Mistry accused Ratan Tata of running the group like his personal fiefdoms, Tatas took the legal route and filed caveats against Mistry and his firm accusing them of embezzlement.
Among the various companies owned by Tatas, one of it is the Tata Steel which after the acquisition of UK-based Corus Steel has became world's largest steel company. National carrier Air India also was first launched by the Tata Group; Tata Airlines founded by Jamsetji was later nationalised and rechristened Air India. Tata Sons along with Singapore Airlines also ventured into airline business with an airline called Vistara which commenced operations on January 9, 2015.
In 2017, there were reports about Tata Group and Bharti Enterprises to get into a major business discussion regarding a mega alliance with their telecom, overseas cable and enterprise services, and direct-to-home TV businesses have been emerging.
As of October 2017, the chairman of Tata Sons, N. Chandrasekaran declared that the company is looking to drastically prune the companies that come under its portfolio and take tough calls on non-performing, debt-laden organizations even as it now aims to be far more disciplined in terms capital allocation in group firms.
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