Tata Sons and the New York Academy of Sciences announced the Tata Transformation Prize to recognize and support promising scientists in India who are developing innovative technological solutions to critical societal challenges. The new prize will be awarded each year to three scientists for innovations in each of three areas: food security, sustainability, and healthcare. Each winner will each receive…
Tata Sons announced it has appointed Ilker Ayci, who was until recently the chairman of Turkish Airlines, as CEO & MD of Air India, according to moneycontrol report. The Air India board met to consider the candidature of Ayci and N Chandrasekaran, Chairman of Tata Sons, was a special invitee to this board meeting, said a statement by…
Tejas Networks announced that it has executed definitive agreements with Panatone Finvest Limited (Panatone), a subsidiary of Tata Sons Private Limited (TATA), which will entail: a) Preferential allotment of 1.94 crore equity shares at a price per equity share of INR 258 per share aggregating to INR 500 crore; b) Preferential allotment of 3.68 crore warrants, each carrying a right…
Tata Digital Limited, a 100% subsidiary of Tata Sons Private Ltd. has entered into a Memorandum of Understanding for an investment of up to US$75 million in CureFit Healthcare Private Limited, subject to completion of diligence process and other approvals. CureFit Founder & CEO Mukesh Bansal will join Tata Digital in an executive role as…
Quess Corp, India’s leading business services provider, announced it has acquired 30% stake in Conneqt Business Solutions for Rs 208 crore from Tata Sons Private Limited. Post acquisition, Conneqt will become a wholly owned subsidiary of Quess. “We wish to inform that the Administration and Investment Committee has approved the acquisition of 30% equity shares…
Mr Ratan Tata, Chairman Emeritus of Tata Sons and Chairman of Tata Trusts, has, in his personal capacity, acquired a stake in Pritish Nandy Communications Ltd through market purchases last week, PNC informed in a regulatory filing. Pritish Nandy Communications claims to be one of the first corporate entities in Bollywood. Founded by Pritish Nandy,…
The Board of Directors of AirAsia has announced that its wholly owned subsidiary, AAIL, and Tata Sons Private Limited, India entered into a Share Purchase Agreement to dispose of AAIL’s equity interest of 32.67% in AAI to TSL. This brings the shareholding of AirAsia Group Berhad in AAI to 16.33%. President (Airlines) of AirAsia Group,…
The Tata Power Company announced it has completed the sale of its Defense business on 31st October, 2020 to Tata Advanced Systems Limited, a wholly owned subsidiary of Tata Sons Pvt. Ltd, the company said in its press release. The sale was completed as per a Scheme of Arrangement, which was approved by National Company…
As the coronavirus pandemic affects business revenues and future plans due to uncertainty of the economic environment, organizations have started to give their employees salary cuts to conserve cash during the crisis. Joining the likes of many other companies, Tata Sons have also decided to move ahead with salary cuts for its top brass. For…
Tata Sons announced that it has signed an MoU with CSIR for development of indigenous scientific invention FELUDA for Covid-19 testing in the country. The kit has been designed for mitigating the ongoing Covid-19 situation and cater to mass testing. The company said that the main advantages of FELUDA are its affordability, relative ease of…
Leading corporations and business leaders have announced their support to fight Covid-19 pandemic, and apart from their direct efforts, and work being done by their respective foundations or CSR initiatives, some of them have committed funds to the union and state governments relief funds. Most of these funds are expected to be directed towards putting…
Tata Sons recently announced that it will ensure full payments to temporary workers and daily wage earners for the month of March and April in view of the coronavirus pandemic. Tata’s temporary workers across offices and production sites in India will be eligible for the payment even if they fail to report to work due…
It looks like the ongoing tussle between Tata Sons and Cyrus Mistry is not coming to an end anytime soon. In a recent development, Cyrus Mistry and his investment firms have filed a fresh petition in the Supreme Court, pleading that they are granted directorship in Tata Sons Ltd. In the petition, dated 13 February…
Tata Motors Ltd has announced in a BSE filing that Ralf Speth, Jaguar Land Rover Automotive Plc (JLR)’s Executive Director and Chief Executive Officer, will retire from his current role at the end of his contract term in September 2020. In a BSE filing, N Chandrasekaran, Chairman of Tata Sons, said, “I want to thank…
National Company Law Appellate Tribunal (NCLAT) today reinstated Cyrus Mistry as the Executive Chairman of Tata Group while ruling the appointment of N Chandrasekaran as executive chairman illegal. The restoration will come into effect only after four weeks. Cyrus Mistry and family holds a minority stake in the Tata Sons group with 18.4 percent of shares. With this development, Tata shares fell by 5.25%.