Tata Sons AGM: Shareholders to vote on raising fresh debt up to Rs 40k cr

The shareholders will vote on raising fresh debt when group has made ambitious plans to make big splash in e-commerce and buying Air India from central govt

The annual general meet­ing (AGM) of Tata Sons, the Tata group’s holding company, will be held virtually on Tuesday.
 
The shareholders will vote on raising fresh debt up to Rs 40,000 crore at a time when the group has made ambitious plans to make big splash in the e-commerce and buying Air India from the central  government. The shareholders will also vote on appointments of directors Sourabh Agarwal and Harish Manwani.
 
The Tata group compa­nies have performed well – both of gaining market valuation and in sales and profitability terms in last year.
 
Tata Sons AGM comes at a time when the group chairman, N Chandrase­karan’s tenure is set to expire early next year and is expected to get a second term, based on the group’s performance over the last few years. However, some of the legacy issues like Tata Steel Europe, Jaguar Land Rover and Tata Teleservices are still draining group’s resources.