A no-contest clause is designed to discourage beneficiaries from disputing the terms of a will, but inheritance laws in India do not explicitly recognise or prohibit such clauses
Tito, whom Tata adopted five to six years ago, will be looked after by Tata's longtime cook, Rajan Shaw. The will also provides for Tata's butler, Subbiah, who served him for three decades
Noel is the half-brother of the late Ratan Tata, and was already a key trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust
Noel Tata's appointment brings clarity to the future leadership of one of India's largest charitable organisations
What set him apart was his pioneering spirit and profound love for the country
Ratan Tata had inherited a profitable and financially robust enterprise, yet the group lacked cohesion and a unified long-term vision
He once said he viewed these investments as a 'learning experience'
Tata, 86, said on Monday he was undergoing routine medical investigations due to his age and related medical conditions
Thus far in CY24, Voltas (up 81%), Tata Investment Corporation (53%), Tejas Networks (31%), Tata Power (35%), Nelco (20%),Tata Steel (18%) and Tata Communications (13%) have outperformed the Sensex.
Veteran industrialist Ratan Tata was on Saturday conferred the first ever Udyog Ratna' award instituted by the Maharashtra government. The award was presented to the 85-year-old chairman emeritus of Tata Sons by Chief Minister Eknath Shinde and Deputy CMs Devendra Fadnavis and Ajit Pawar at the industrialist's home in Colaba, south Mumbai. The honour comprised a shawl, a citation and a memento from the Maharashtra Industrial Development Corporation (MIDC). Talking to reporters afterwards, Shinde said honouring Tata as Udyog Ratna' has enhanced the prestige of the award. The contribution of the Tata group in all sectors is immense. Tata means trust, he said. The steel-to-salt group operates in more than 100 countries across six continents. In 2021-22, the collective revenue of Tata companies stood at $128 billion.
Tata and Sekhsaria having issued shareholding of 31.43% and 17.01% respectively are eligible to file an application under Section 241
In event of default, the voting rights of Ratan Tata would go up to 31.43% from 0.83% as preference and equity capital will be considered together