Latest news with #RatanTata
The Print
6 hours ago
- Business
- The Print
At Tata Motors' AGM, Chandrasekaran pays homage to Air India plane crash victims
This was the first AGM of a Tata Group company that Chandrasekaran has attended since the June 12 plane crash. Chandrasekaran, who is also chairman of Tata Sons, stated that the Tata Group will miss out its former chairman Ratan Tata, who died last year. New Delhi, Jun 20 (PTI) Tata Motors Chairman N Chandrasekaran on Friday led the management and the company's shareholders in paying homage to the victims of the Air India plane crash by observing a one-minute silence at the company's 80th annual general meeting (AGM) here. He had not attended the AGMs of two other group companies — TCS and TCPL — which took place earlier this week. Chandrasekaran said: 'Going forward, volatility will continue to mark economic cycles — from widespread geopolitical conflicts, military escalations, the redrawing of supply chains and tariff regimes, to AI and energy transition. Nowhere are all these disruptions visible more than in the automotive sector.' '…Now I would like to share a few thoughts. There is a lot to talk about today. First thought I would like us to begin with a moment of silence to honour those who lost their lives, along with all the families and loved ones affected by Air India flight (AI)171 tragedy,' he said in his address to the shareholders. The London-bound Air India flight AI-171 carrying 242 passengers and crew members crashed in Ahmedabad on June 12. All but one on board the plane died along with 29 on the ground when the aircraft smashed into a medical complex in the Meghaninagar area of the city shortly after its take-off. After observing one-minute silence, Chandrasekaran resumed his address and said, 'My thoughts are with them, and I know yours are too. 'This has been a long and unsettling week for all of us as a nation, as a Group, and at a very human level, navigating an enormous gulf of sorrow, grief and uncertainty all at the same time.' The last few months have been full of loss, he said, adding, 'Late last year, we bid farewell to Mr Ratan Tata, under whose hand the Group expanded while staying true to its values.' 'He was a friend and someone whose guidance I sought, whose humanity I admired and whose focus on the importance of details I will always carry with me. He will be dearly missed,' the Tata Group Chairman said. Stating that the company's demerging process was underway, he said (post merger) we will be operating as two independent listed companies — one with commercial vehicles and one with passenger vehicles and JLR — by the end of this calendar year. 'Over the past few years, we have significantly strengthened, streamlined and simplified this business. Each business — commercial vehicles, passenger vehicles and JLR — are healthy, financially fit and have their own strategy, led by independent management teams,' Chandrasekaran said. Taking the three businesses (CV, PV and JLR) together, Tata Motors delivered a strong performance to surpass several earlier milestones, despite a complex macro environment in FY25, he said. On a consolidated basis, the company delivered a record high revenue of Rs 4,39,695 crore, EBITDA of Rs 57,649 crore, and record high PBT (before exceptional items) of Rs 34,330 crore leading to the Tata Motors Group becoming debt free this year, Chandrasekaran said. 'I had the opportunity to update Mr. Tata about Tata Motors and the PV business turnaround and growth. He was most pleased as Tata Motors was closest to his heart,' he said. The Board has recommended a final dividend of Rs 6 per ordinary share for FY25 subject to the shareholders' approval at the AGM, he said. 'Given the enormous amount of work we have done over the past few years — from simplifying the businesses to making big strategic bets to strengthening our financial position — our businesses are structured to not just handle this environment, but to thrive,' Chandrasekatran said. PTI IAS RKL HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Mint
10 hours ago
- Automotive
- Mint
At Tata Motors AGM, Chandrasekaran pays homage to Air India plane crash victims
New Delhi, Jun 20 (PTI) Tata Motors Chairman N Chandrasekaran on Friday led the management and the company's shareholders in paying homage to the victims of the Air India plane crash by observing a one-minute silence at the company's 80th annual general meeting (AGM) here. Chandrasekaran, who is also chairman of Tata Sons, stated that the Tata Group will miss out its former chairman Ratan Tata, who died last year. This was the first AGM of a Tata Group company that Chandrasekaran has attended since the June 12 plane crash. He had not attended the AGMs of two other group companies -- TCS and TCPL -- which took place earlier this week. Chandrasekaran said: "Going forward, volatility will continue to mark economic cycles -- from widespread geopolitical conflicts, military escalations, the redrawing of supply chains and tariff regimes, to AI and energy transition. Nowhere are all these disruptions visible more than in the automotive sector." "...Now I would like to share a few thoughts. There is a lot to talk about today. First thought I would like us to begin with a moment of silence to honour those who lost their lives, along with all the families and loved ones affected by Air India flight (AI)171 tragedy," he said in his address to the shareholders. The London-bound Air India flight AI-171 carrying 242 passengers and crew members crashed in Ahmedabad on June 12. All but one on board the plane died along with 29 on the ground when the aircraft smashed into a medical complex in the Meghaninagar area of the city shortly after its take-off. After observing one-minute silence, Chandrasekaran resumed his address and said, "My thoughts are with them, and I know yours are too. "This has been a long and unsettling week for all of us as a nation, as a Group, and at a very human level, navigating an enormous gulf of sorrow, grief and uncertainty all at the same time." The last few months have been full of loss, he said, adding, "Late last year, we bid farewell to Mr Ratan Tata, under whose hand the Group expanded while staying true to its values." "He was a friend and someone whose guidance I sought, whose humanity I admired and whose focus on the importance of details I will always carry with me. He will be dearly missed," the Tata Group Chairman said. Stating that the company's demerging process was underway, he said (post merger) we will be operating as two independent listed companies -- one with commercial vehicles and one with passenger vehicles and JLR -- by the end of this calendar year. "Over the past few years, we have significantly strengthened, streamlined and simplified this business. Each business -- commercial vehicles, passenger vehicles and JLR -- are healthy, financially fit and have their own strategy, led by independent management teams," Chandrasekaran said. Taking the three businesses (CV, PV and JLR) together, Tata Motors delivered a strong performance to surpass several earlier milestones, despite a complex macro environment in FY25, he said. On a consolidated basis, the company delivered a record high revenue of ₹ 4,39,695 crore, EBITDA of ₹ 57,649 crore, and record high PBT (before exceptional items) of ₹ 34,330 crore leading to the Tata Motors Group becoming debt free this year, Chandrasekaran said. "I had the opportunity to update Mr. Tata about Tata Motors and the PV business turnaround and growth. He was most pleased as Tata Motors was closest to his heart," he said. The Board has recommended a final dividend of ₹ 6 per ordinary share for FY25 subject to the shareholders' approval at the AGM, he said. "Given the enormous amount of work we have done over the past few years -- from simplifying the businesses to making big strategic bets to strengthening our financial position -- our businesses are structured to not just handle this environment, but to thrive," Chandrasekatran said.
India.com
a day ago
- Business
- India.com
Bad news for Ratan Tata's group TCS as it faces strong opposition from…
Ratan Tata (File) The All India IT & ITeS Employees' Union (AIITEU) has condemned Tata Consultancy Services (TCS') over its revised associate deployment policy. According to media reports the policy had mandated employees to have 225 days of billability every year and also limited bench timelines to 35 days a year. The tech workers union also called it an 'anti-worker policy' and accused it of making it 'downsize' teams, according to a Money Control report. The IT employee union said that the new associate deployment policy of TCS puts the responsibility of finding projects on the employees instead of the Resource Management Group (RMG). TCS New Policy The new policy was announced on June 12 by the Resource Management Group (RMG)regarding assigning projects to employees. According to new rules, employees have to approach the RMG themselves to get projects so they can ensure to have 225 days of billability over a 12 months period. If the employee misses this billability target, they will face disciplinary action like termination of service , the policy said. Employees also cannot be on bench for more than 35 days a year, as reported by Money Control. IT Employee Union On TCS Policy AIITEU said in a statement, 'The RMG of TCS is known to be responsible for ensuring adequate billability of the employees. While it is true that long period of inactivity has an adverse effect on employees' compensation, individual growth and overseas deployment prospect, the policy also has an ulterior motive of transferring the responsibility to ensure adequate billability from the RMG to the employees.' 'It is an attempt by TCS Management to justify the organisation's anti-worker policy of Performance Improvement Plan (PIP) that the management often resorts to, during downsizing,' the tech workers union added. TCS employees are also expected to upskill themselves and take mandatory 4-6 hours of training through the company's iEvolve platform, as per the new rules.
India.com
a day ago
- Business
- India.com
No project, no pay hike! Ratan Tata's this company makes life tougher for employees, implements new policy of…
Late Ratan Tata- File image- TCS Ratan Tata's TCS had recently changed the policy related to work from home and leaves. Now again it has rolled out a revised associate deployment policy which can affect all the current employees, especially those who are not working on any project. TCS's new deployment policy has mandated a minimum of 225 business days of billing annually and also reduced bench time of 35 days per year. TCS New Deployment Policy The new policy wants employees to get assignments themselves or upskill them when they are not working on any project. 'At any given point in time, associates must be allocated for a minimum period of 225 business days in the last 12 months,' as reported by the Times of India, citing official policy documents from TCS. The report also stated that TCS's Global Head, Chandrasekaran Ramkumar, introduced the new policy, which became effective on 12 June 2025. Associates who will be unallocated above the specified limit will see adverse impact on their compensation, promotions, overseas postings, and even on the continuity of employment. TCS Learning Platforms TCS's new policy also indirectly asks the associate's to be proactive and engage with regional RMG and find better opportunities for themselves. The associates who don't have projects with them have to spend more time in upskilling themselves. Like they have to mandatorily spend four to six hours daily on learning platforms like iEvolve, VLS, and Fresco Play and also complete all training modules, and use tools like the Gen AI interview coach to always remain deployment-ready. Freshers were also urged to reach out to RMG in case they have no assigned projects. The new policy also stated that working from the office is the standard and Remote work or flexibility be given only in special situations like personal emergencies.
Time of India
3 days ago
- Business
- Time of India
RNT's shares in Tata & other cos to go to his foundations
Ratan Tata MUMBAI: The Bombay high court has clarified that Ratan Tata's holdings in listed and unlisted companies will go to his two foundations and not to his half-sisters and former confidant Mohini Dutta. The clarification comes after executors of Tata's estate sought guidance from the HC on who would inherit the late industrialist's equity portfolio. The June 16 order now paves the way for the probate of Tata's will, which is expected in a month. While there was no dispute among the executors, some of them are also beneficiaries, and other heirs of Tata's estate, originating summons were filed to address questions stemming from the effect of the fourth or final codicil on Tata's will, the HC said in its June 16 order. The question at hand was whether Tata's share portfoshares, valued at Rs 1,684 crore, have been explicitly mentioned in his will as being bequeathed to RTEF and RTET in a 70:30 ratio. The clarification is on his non-Tata Sons shares, worth over Rs 1,547 crore, which will now go to the two foundations in a 50:50 ratio. His non-Tata Sons shares include TCS, Tata Motors, Tata Investments, RNT Associates, Pritish Nandy Communications, as well as startups like Curefit, Avanti Finance and Electrodrive Powertrain Solutions (Electra EV). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo Additionally, he held foreign shares in Howmet Aerospace and Alcoa Corp, both listed on the NYSE. Some of his investments have seen significant growth over the years. For example, his Rs 16.9 crore investment in Avanti Finance, a company he co-founded with economist Vijay Kelkar and Infosys chairman Nandan Nilekani in 2016, has grown to Rs 53.5 crore as of Sept 2024. lio will stand bequeathed according to clauses 4 to 8 of his will to half-sisters Shireen and Deanna Jejeebhoy, and Dutta, or whether it will be part of his residue asset and go to his two foundations, Ratan Tata Endowment Foundation (RTEF) and Ratan Tata Endowment Trust (RTET), as outlined in clause 13 of his will as substituted by the fourth codicil. The Jejeebhoy sisters are both among the executors and beneficiaries of Tata's estate. The order pointed out that a testator can introduce alterations to his will through codicils and past Supreme Court judgments have established that codicils will prevail over the will. Therefore, Tata's will has to be considered with alterations/additions made in the codicils. Justice Manish Pitale said Tata's holdings in listed and unlisted shares, not specifically covered in his will, form part of his residue asset and stand bequeathed to his two foundations in equal shares. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
