Who is Ratan Tata? Ratan Naval Tata is an Indian industrialist and former chairman of Tata Sons. He was also the chairman of the Tata Group from 1990 to 2012, serving also as interim chairman from October 2016 through February 2017. He continues to head its charitable trusts. Born: 28 December 1937, Mumbai Education: Harvard Business School Organizations founded:Tata Housing Development Company,Tata Docomo,Tata Teleservices Occupation: Industrialist Title: Chairman Emeritus,Tata Sons andTata Group About Tata Sons Type Private Founded 1868 Founder Jamsetji Tata Headquarters Mumbai, Maharashtra, India
▪ Tata Sons Private Limited is the holding company of the
Tata Group ▪ Tata Sons Private Limited was established as a trading enterprise in 1868, ▪ Engaged primarily in the lucrative opium and tea trade with Mongolia and China About Tata Group Type Private Industry Conglomerate Founded 1868, Founder Jamsetji Tata Headquarter Bombay House, Mumbai, Maharashtra Products Automotive, Airlines, IT Services, Hospitality, Steel, Telecom and so on Owner Tata Sons Chairman Natarajan Chandrasekaran at present time. Cyrus Mistry (2012-2016) Who is Cyrus Mistry? Cyrus Mistry, son of Pallonji Mistry who is the owner of the Shapoorji Pallonji group and one of the biggest stakeholder in the Tata group. He was appointed to the top position in 2012. SHARE HOLDER NO OF SHARES SHARE-HOLDING PERCENTAGE Shapoorji Pallonji G 108 0.026723 Sterling Investment 37120 9.18489 Cyrus Investment 37120 9.18489 (Shapoorji Pallonji G) RatanTata 3368 0.8337 Sir Dorabji Tata Trust 113067 27.97705 Sir RatanTataTrust 95211 23.5588 What Had Happened ? On October 24, 2016, Cyrus Mistry was removed from his post of Chairman of Tata Sons by the board. Mistry, who was at one time a protege of Tata Sons Chairman Executive RatanTata, was sacked both as Executive Chairman and Director. Following his ouster, Mistry had moved the Mumbai bench of the National Company Law Tribunal (NCLT) challenging his removal and said that- The majority shareholder of Tata Sons, the Tata Group was indulged in oppression of minority shareholders of the group. NCLT DECISION National Company Law Tribunal In its 2017 judgment, the NCLT upheld Mistry’s removal from as Executive Chairman and Director and had observed that Just because the board of Tata Sons had held a board meeting at short notice or included the item agenda (that removed Mistry from his post at the top) at the last minute, it could not be termed as a fraud. In December 2019, the NCLAT (National Company Law Appellate Tribunal) had reinstated Cyrus Pallonji Mistry to the position of Executive Chairman of Tata Sons and Director of the Tata Group of companies for the remainder of his tenure. It had also termed Tata Group’s decision to convert from a public limited company to a private company was “prejudicial and oppressive to the minority members and depositors” and, therefore, illegal. Ratan Tata wins the fight against Cyrus Mistry in SC What Has Happened? The Supreme Court allowed all appeals by the Tata Group and upheld its decision to sack Cyrus Pallonji Mistry as the chairman and executive director of the group. The judgment brings down curtains on one of the ugliest publicly- fought boardroom wars in the history of Corporate India.