The man who dared Ratan Tata

To secure his family’s minority stake, Mistry came close to questioning the corporate governance standards of the century-old Tata group.

In August 2003, I co-authored a cover story titled “The Enigma called Pallonji Mistry” for Businessworld magazine.

That was when Tata Consultancy Services, the Tata group’s most valuable business and one that funded much of its investments and covered its losses, was being carved out as a separate company from the group’s holding company, Tata Sons, to be listed on the stock exchanges.

The biggest single beneficiary would be Pallonji Mistry—the real estate tycoon and then chairman of the Shapoorji Pallonji Group—who held an 18.4% stake in Tata Sons. After nine decades of being an investor in the Tata group, …


T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor