Contrary to public opinion, the Docomo dispute had much back-seat driving from Ratan Tata and the Tata Trusts.
His sometimes low-key, yet determined manner of managing has worked wonders with TCS. Can he do the same, while cleaning up after the Mistry affair, with Tata Sons?
Chandrasekaran has been the chief executive of TCS since 2009 and was appointed as a director on the board of Tata Sons just days after Cyrus Mistry was removed as chairman of the group in late October.
The petition also alleges that as part of the transactions, the conglomerate – at the behest of Tata – had dealings with the alleged terrorist Hamid Reza Malakotipour.
As the battle between Cyrus Mistry and Ratan Tata escalates, it will be interesting to see which way other Tata family members will go.
Today, each independent director is being assigned to a particular camp and their loyalty being judged not on the merits of their decisions but by who their decisions end up favouring.
There were changes that led to this increase that were not in Mistry’s control, the statement says.
Events at Tata Sons show that independent directors are there to support the dominant shareholder rather than protecting the interests of minority shareholders.
While the Tata Group says that independent directors should ensure that future of group companies are protected, Mistry says he built a corporate governance framework that balanced minority shareholder rights.
Their statement has also said Mistry was selected after the committee “failed to find an alternative”.
“It was not as if I was fired for non-performance (my last evaluation was excellent). … I was fired for just being there at my position – working intensely and extensively with Cyrus.”
The literature festival in Mumbai is geared towards recognising and promoting literary talent across different genres of literature among emerging as well as distinguised writers.
As ousted Tata Group chairman, Cyrus Mistry stepped up attack, Ratan Tata hit back saying his removal was well-considered by the board and deemed necessary.
Ramadorai has a long history with the Tata group and led Tata Consultancy Services for close to two decades.
From potential legal troubles, to senior executive exits, to Tata Steel’s Europe strategy, what does the road ahead look like for the Tata Group?
A fortnightly column from The Wire’s Public Editor.
“There is a multitude of records to show that the allegations made by Mr. Cyrus Mistry are unwarranted,” the statement read.
Cyrus Mistry’s letter, which raises questions of potential write-downs and alleged strategic missteps, has spooked the market and erased any influence Ratan Tata’s return may have had.
Mistry pinpoints “legacy hotspots” – certain companies that if realistically assessed could result in a write-down of nearly $18 billion.
While Tata Motors-owned Jaguar Land Rover could lose 1 billion pounds by 2020, the rest of India Inc needs to hope for a steady pound, decreased global financial panic and British access to the European common market.
Although it appears that the company referred itself to the fraud office after an internal audit, the SFO’s inquiry comes at a difficult time for the salt-to-software conglomerate, which is looking to exit its UK business.