In its 150 years of existence, Tata Group has had only seven chairmen. But that was not the only reason many people were shocked when Cyrus Mistry was removed from the chair on October 24, 2016. Mistry was handpicked by his predecessor, Ratan Tata, and propped up by the clout his father, Pallonji Mistry, carried in Bombay House, the Tata headquarters. The Mistrys own an 18.4 per cent stake in Tata Sons, the holding company of Tata Group.
Mistry waged a legal battle against his removal, which was widely seen as an attempt to prove a point rather than out of a desire to get back the chair. On December 18, 2019, he secured a major victory when the National Company Law Appellate Tribunal ruled that the actions taken against him were illegal and he should be reinstated as the chairman of Tata Sons. Tata was given four weeks to comply with the judgment, but was ordered that Mistry be reinstated as a director immediately.
It came as a surprise, but people close to Mistry said it was justice done. “For the Tata Sons board members (the NCLAT judgment is a) devastating commentary on their illegal, unethical and spineless behaviour,” Nirmalya Kumar, who was a member of the group executive council set up by Mistry and head of strategy at Tata Group, told THE WEEK. Soon after Mistry’s removal, the council was disbanded and Kumar was asked to leave.
Denne historien er fra January 05, 2020-utgaven av THE WEEK.
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Denne historien er fra January 05, 2020-utgaven av THE WEEK.
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William Dalrymple goes further back
Indian readers have long known William Dalrymple as the chronicler nonpareil of India in the early years of the British raj. His latest book, The Golden Road, is a striking departure, since it takes him to a period from about the third century BC to the 12th-13th centuries CE.
The bleat from the street
What with all the apps delivering straight to one’s doorstep, the supermarkets, the food halls and even the occasional (super-expensive) pop-up thela (cart) offering the woke from field-to-fork option, the good old veggie-market/mandi has fallen off my regular beat.
Courage and conviction
Justice A.M. Ahmadi's biography by his granddaughter brings out behind-the-scenes tension in the Supreme Court as it dealt with the Babri Masjid demolition case
EPIC ENTERPRISE
Gowri Ramnarayan's translation of Ponniyin Selvan brings a fresh perspective to her grandfather's magnum opus
Upgrade your jeans
If you don’t live in the top four-five northern states of India, winter means little else than a pair of jeans. I live in Mumbai, where only mad people wear jeans throughout the year. High temperatures and extreme levels of humidity ensure we go to work in mulmul salwars, cotton pants, or, if you are lucky like me, wear shorts every day.
Garden by the sea
When Kozhikode beach became a fertile ground for ideas with Manorama Hortus
RECRUITERS SPEAK
Industry requirements and selection criteria of management graduates
MORAL COMPASS
The need to infuse ethics into India's MBA landscape
B-SCHOOLS SHOULD UNDERSTAND THAT INDIAN ECONOMY IS GOING TO WITNESS A TREMENDOUS GROWTH
INTERVIEW - Prof DEBASHIS CHATTERJEE, director, Indian Institute of Management, Kozhikode
COURSE CORRECTION
India's best b-schools are navigating tumultuous times. Hurdles include lower salaries offered to their graduates and students misusing AI
