Any change in the Tata Group’s structure that makes a clear controlling entity less obvious or weakens the holding company’s credit profile may impact the outlook of the group’s credit quality, and thereby, individual ratings, rating agency S&P said on Tuesday. The leadership transition or changes in the group structure or stakeholder priorities may raise … Read more
Venu Srinivasan, trustee of the Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust, and their joint nominee director on the Tata Sons board, has asked the Maharashtra Charity Commissioner for an immediate inquiry into the trust’s administration and governance. He alleged “serious governance lapses” and raised concerns over involvement of the charitable trust … Read more
Tata Trusts has shared a plan to merge two operating companies into Tata Sons, a move meant to remove the Group’s Core Investment Company status, which the main shareholder believes will help it avoid the Reserve Bank of India’s (RBI’s) order to list on a stock exchange. On Monday, Tata Trusts, which owns 65.9% of … Read more
Tata Trusts’ opposition to N Chandrasekaran‘s reappointment as Executive Chairman of Tata Sons could trigger months of uncertainty over both his tenure and the group holding company’s proposed listing, Shriram Subramanian, Founder and Managing Director of InGovern Research Services, has warned. The Tata Sons board on Thursday approved Chandrasekaran’s reappointment for a further five-year term … Read more
The Reserve Bank of India has directed Tata Sons Pvt. Ltd. to go for an IPO after rejecting its two-and-a-half-year-old application to surrender its registration as a core investment company, marking a new challenge for Tata Trusts chairman Noel Tata, who had lobbied hard to keep the group’s holding company private. In a letter dated … Read more
Proxy advisory firm InGovern Research Services said on Friday that the Reserve Bank of India (RBI) should reject Tata Sons’ application to give up its registration as a core investment company. It said the regulatory landscape had shifted significantly, and there was no remaining legal basis to provide an exemption to an entity of this … Read more
Shapoorji Pallonji Mistry on Friday reiterated his call for a public listing of Tata Sons, describing it as a “necessary evolution” that would strengthen governance, transparency and accountability within the group, a media statement showed. Shapoorji Pallonji Mistry heads the Shapoorji Pallonji (SP) Group, which is the largest minority shareholder in Tata Sons with an … Read more