• Tuesday, May 17, 2022

Business

Ratan Tata back in hot seat as Indian giant dumps Mistry

Ratan Tata

By: Eastern Eye Staff

Family patriarch Ratan Tata sought to reassure rattled investors of stability at India’s biggest conglomerate on Tuesday (25) after the sudden sacking of chairman Cyrus Mistry sent Tata company shares falling. Seventy-eight-year old Tata has taken interim charge of the sprawling $100 billion tea-to-steel Tata Group, after Mistry was abruptly dumped on Monday evening, four years after being appointed chairman. The sacking stunned the Indian business world and sparked a fall in shares at Tata Sons firms on Tuesday as Indian media carried reports that Mistry could take legal action. Tata, who had stepped down as chairman after two decades…

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