Ratan Tata Is Not Fighting For Piece Of Land, Says Adviser Harish Salve
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- Опубліковано 13 чер 2024
- Cyrus Mistry's surprise removal as Chairman of the Tata Group was rooted in a mismatch of values between him and Ratan Tata, his 78-year-old predecessor, according to Harish Salve, a long-time legal adviser to the $100 billion group. "I'm sure all the people concerned here know they are not fighting for a piece of land or property," said Mr Salve to NDTV, emphasizing that the group felt its formidable international reputation was being compromised.
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Tata is national proud no money can in world name tata
Harish Salve comments that Tatas are not out there to steal a piece of property, indicates the problem. Shapoorji Pallonji was trying to develop Tata Group in the same notorious way, like they handled their real estate business.
SATYAM SHIVAM SUNDARAM SATYA HI SHIV HAI SHIV HI SUNDAR HAI.
Harish salve finally rebounds after PANAMA PAPERS!!!
This episode has done a lot of damage to Tata name. They will need to recreate that trust we associate with Tatas. Cyrus has washed lot of dirty linen in public. IMHO there was nothing wrong In Cyrus trying to get rid of loss making businesses so I doubt he was thrown out because of that, there must be something more to it. Welspun acquisition is one reason being given. On other hand Tata himself has been in controversies involving Nira Radia, Unitech etc. Some group companies seem to be killing the group with their debts and losses - Tata Tele, Tata Power seem to be big ones, these jewels seem to have lost their sheen. A big shake up in bureaucratic working at Tatas and appointments not based on competency and ethics in recent years have led to this. In old days only people from within grew to highest posts, in past 10-15 years people from outside were brought in. These people have no idea of Tata ethos and way of working, they were only trying to make a name for themselves. They need to be got rid of and old horses made in charge.
Further, if Tata's are in big losses then whole economy is in trouble as their debts as disclosed by Cyrus are almost 2 lac crores and most of this is financed either by banks/financial institutions or mutual funds etc. While Mistry will survive and make money in Shapoorji group and Tata will retire and their CEOs with crores of salary will seek greener pastures, we poor small investors who have put in our hard earned money in banks or MFs or even in markets will lose it all. Already all Tata companies have lost 26000 crs in market and that has brought Sensex down badly. Tata must revive the confidence of the markets and appoint CEOs who can deliver and have turnaround experience rather than those who are making money thru hefty salaries and making a name for themselves. If turnaround seems doubtful in some cases he must sell these assets off and invest the money elsewhere to make up for money lost by investors and banks. I still love Tata and have full faith in him, but I have lost faith in these new staff recruited at hefty salaries by them. Examples are Tata tele - I wonder whose idea it was, company has employees who are drawing hefty salaries but don't even handle consumer complaints, they don't even want to sell, you hardly see any advsts. Another example is Tata Motors - look at the products - they have not even brought out a single new vehicle which can draw crowds like Tata Sierra did in 1990s or Indica did. Another one is Tata Power, I enjoyed holding Tata power shares for years and look at their value now, this particularly happened in last 6-7 years. Last 3 years have been particularly bad. This necessitates a change of entire leadership team at all these companies. We need dynamic people rather than bureaucrats holding their fiefdoms.
JAB TAK SOORAJ CHAAND RAHEGA RATAN TATA JI AAP KA NAAM RAHEGA.
Tata is is not an institution is a profit making business conglomerate
Barkha Dutt looks nervous