Court to seize and sell contents in Jamal Yunos’ house after failure to pay Teresa Kok RM50,000 in defamation suit costs
Tata, who ran the conglomerate for more than 20 years as chairman, had been undergoing intensive care in a Mumbai hospital, two sources with direct knowledge of his medical situation told Reuters earlier yesterday. After graduating with a degree in architecture at Cornell University, he returned to India and in 1962 began working for the group his great-grandfather had founded nearly a century earlier.
In one of his first steps, Ratan Tata sought to rein in the power of some heads of Tata Group’s companies, enforcing retirement ages, promoting younger people to senior positions and ramping up control over companies. His pet projects at Tata Motors included the Indica — the first car model designed and built in India — as well as the Nano, touted as the world’s cheapest car. He contributed initial sketches for both models.
About two-thirds of share capital of Tata Sons, the group’s holding company, is held by philanthropic trusts.