Tata Sons board evaluates roadmap to turn around loss-making companies
Tata Sons Chairman N Chandrasekaran and other top officials made a detailed presentation to the board members at the Bombay House group headquarters, here on Tuesday.
Tata Sons Chairman N Chandrasekaran and other top officials made a detailed presentation to the board members at the Bombay House group headquarters, here on Tuesday.
The decisions were taken in the state cabinet meeting chaired by Chief Minister Yogi Adityanath here on Tuesday.
Noel Tata, who became chairman of Tata Trusts in October 2024, was nominated to the Tata Sons Board by the trusts and appointed as an additional director last year.
Tata Sons, which owns and operates Air India, on Friday completed the registration of a public charitable trust worth Rs 500 crore, dedicated to the victims of the Air India flight AI-171 crash in Ahmedabad on June 12 that killed 260 people.
Chief Minister Chandrababu Naidu met the Tata Group chairman to discuss building a golden Andhra Pradesh.
As per the deal, the Tata Sons will take over of Rs. 15,300 crore of debt and rest of the amount will be paid in cash and final transaction is expected to be completed by December this year.
The share purchase agreement (SPA) was given to the bidders in the meeting recently and the process will start after a formal announcement is made, following its approval by the Shah-led ministerial committee.
Sanjay Nayak will continue as Managing Director and Chief Executive Officer to lead Tejas Networks
The SPA may be terminated by TSL if the closing does not occur prior to the 'Long Stop' date of 31 March 2021, if mutually agreed in writing by all parties.
The announcement came after Tata Sons earlier in the day told the Supreme Court that it was ready to buy the Mistry family's stake in Tata Sons at current market value.
