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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
To secure his family’s minority stake, Mistry came close to questioning the corporate governance standards of the century-old Tata group.
Editor's note: 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, Pallonji would finally be able to impute some direct value to his investment with the TCS listing. It was a tough story to do. No one wanted to say a word about “the phantom of Bombay House”. His executives declined to speak. A senior Tata Sons director invited me to his office and, after politely listening to all my questions, smiled and said “interesting”. A retired director of the group called me home and told me about Pallonji’s involvement in …
To secure his family’s minority stake, Mistry came close to questioning the corporate governance standards of the century-old Tata group.
Editor's note: 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, Pallonji would finally be able to impute some direct value to his investment with the TCS listing. It was a tough story to do. No one wanted to say a word about “the phantom of Bombay House”. His executives declined to speak. A senior Tata Sons director invited me to his office and, after politely listening to all my questions, smiled and said “interesting”. A retired director of the group called me home and told me about Pallonji’s involvement in …
The two new chief executives at Air India and IndiGo come with contrasting reputations but face the same challenge—do their predecessors one better.
In a surprise move on Wednesday, the Tata Sons chairman announced he will exit Bombay House at the end of his tenure in February 2027. He leaves at what is one of the most crucial times for the group.
The FMCG major acquired the maker of Ching’s Secret to make the most of its high margins, but things didn’t go to plan. Two years and a few lessons later, TCPL is trying to change that.
The two new chief executives at Air India and IndiGo come with contrasting reputations but face the same challenge—do their predecessors one better.
In a surprise move on Wednesday, the Tata Sons chairman announced he will exit Bombay House at the end of his tenure in February 2027. He leaves at what is one of the most crucial times for the group.
The FMCG major acquired the maker of Ching’s Secret to make the most of its high margins, but things didn’t go to plan. Two years and a few lessons later, TCPL is trying to change that.
