TIMES BUSINESS THE TIMES OF INDIA, MUMBAI | FRIDAY, NOVEMBER 18, 2016 DAIMLER CEO DIETER ZETSCHE SEES NO US MARKET US FED CHIEF JANET YELLEN HINTS FED COULD DISRUPTIONS ONCE DONALD TRUMP TAKES OFFICE RAISE INTEREST RATES NEXT MONTH | 24 Mistry avoids face-off, skips Rajat Gupta Jeep plans Scoot eyes assumes role mini SUV for long-haul two Tata board meetings as chairman flights of non-profit under `10L from India TCS Calls EGM On Dec 13 To Remove Cyrus As Director New York: India-born former Saurabh.Sinha SL Shanth Kumar Goldman Sachs director Rajat @timesgroup.com Reeba.Zachariah After the TCS board mee- Gupta has assumed a new role as @timesgroup.com ting, Hussain and the compa- chairman of a US- May Rope In Tata Motors New Delhi: With budget airli- ny’s MD & CEO N Chandrase- based non-profit nes controlling almost 65% of Mumbai: Cyrus Mistry on karan attended the Tata Sons organisation, a For Engines, Transmissions domestic skies, it is now the Thursday skipped two crucial board meet chaired by Ratan gradual return to a turn of foreign low-cost carri- board meetings, of Tata Sons Tata that lasted for nearly two normal life after Pankaj.Doval Tata Motors beyond the ers (LCC) with wide-body pla- and Tata Consul- hours. This was Chandraseka- completing a two- @timesgroup.com Ranjangaon joint venture nes to eye the lucrative long- tancy Services ran’s first board meet as a Tata year prison term (signed by parent Fiat- haul traffic to-and-from India. (TCS), his first such Sons director. on insider trading charges. Los Angeles: Iconic Ame- Chrysler ) that produces Singapore Airlines’ (SIA) absence since he Mistry had informed Tata Gupta, 67, is chairman of rican SUV brand Jeep is vehicles for both the long-haul LCC Scoot wants to was ousted as cha- Sons and TCS that he be granted the WHEELS Global Founda- planning a sub Rs 10-lakh companies. “Our rela- operate its Boeing 787 Dream- irman from both companies. ‘leave of absence’, sources said. tion (WGF), a nonprofit organi- global off-roader for India to tionship with Tata Motors liners on Singapore-India-Eu- The board of directors of Ta- Before the formal board mee- sation focused on applying take on the likes of Ford Eco is good… I would be very rope/Gulf routes under so- ta Sons did not discuss issues ting, Ratan Tata had called an technology to uplift rural com- Sport and Renault Duster. It open to discussions with mething known as “fifth free- linked to Mistry, Tata executi- informal board meeting of Tata munities and provide techno- is also looking at a partners- Tata about opportunities dom” of aviation. Under this ves said. However, at the TCS Sons directors where Mistry logical solutions to global chal- hip with Tata Motors for where collectively we co- freedom, an airline can fly meeting, which was chaired by was not invited. This, sources lenges in six areas; water, he- engines, transmissions and uld win,” Manley told TOI from its home country to a se- Ishaat Hussain, it was decided said, prompted Mistry to skip alth, education, energy, lifesty- possibly new products. when asked about possible cond nation and take passeng- that the company will convene the crucial board meeting in the les, and sustainability. Mike Manley, head of joint product-develop- ers from there to a third count- an extraordinary meeting afternoon. Vijay Singh, a Tata The non-profit was founded the Jeep brand, which is ment and vehicle platform ry and same on return. (EGM) on December 13 to remo- Ratan Tata (left) outside Bombay House, and TCS chairman Ishaat Sons director, denied to PTI any in 2013 by a group of alumni part of the Fiat-Chrysler strategies. ve Mistry as a director from its Hussain at the company’s headquarters in Mumbai on Thursday such meeting, jokingly saying Automobiles’ (FCA) stable, SIA’s long-haul LCC board. On November 10, Tata that all board meets are them- The non-profit, said India is one of the FUELLING COMPETITION Scoot wants to Sons had said Hussain will re- Mistry’s continuance as chair- man, ICan Advisors. Singhvi selves “informal”. WHEELS Global “most critical” markets for operate its Boeing place Mistry as TCS chairman. man while in Tata Steel, the six wondered how directors who Besides Mistry, two other Foundation, was the company as it looks at a 787s on Singapore- TCS is the first company independent directors were di- had come on board recently and directors, Farida Khambata founded in 2013 by a greater and stronger push from the Tata Group to fix the vided for and against him. It were yet to acquaint themselves and Ralf Speth, too skipped group of alumni from into emerging countries, India-Europe/Gulf EGM date. In the next few we- remains to be seen how share- with the group’s businesses, the Tata Sons board meet. including Brazil and China. routes eks, boards of Tata Steel, Tata holders factor in the views of had agreed to go along with the A Tata executive said the Ta- IIT, all prominent The mini SUV, which is Motors, Indian Hotels and Ta- these directors. decision to replace Mistry. ta Sons board meeting was a ro- entrepreneurs and still in the drawing stage, “There is a market for long- ta Chemicals will also consi- Mistry’s dismissal as Tata Singhvi’s reference was to Venu utine meet “with discussions will be the smallest in the haul LCCs to come into India or financial executives hJeep plans to take on Ford der convening similar EGMs. Sons chairman and attempts Srinivasan, Ajay Piramal and revolving around company’s ac- company’s line-up and In- Eco Sport and Renault Duster be based here. If allowed, our Despite opposition from pa- to remove him from other group Amit Chandra who had joined counts, administrative matters, from IIT, all prominent entre- dia could be a global manu- with mini SUV fare (basic, with everything el- rent company Tata Sons, Mist- companies has raised questions Tata Sons months before Mist- assessment of business and the preneurs and financial executi- facturing hub for right- se like baggage check-in, me- hIconic American SUV brand ry remains chairman in these about governance practices ry’s removal. way ahead.” The executive also ves. A source said Gupta assu- hand drive markets. The will also launch Compass SUV als, beverages and Wi-Fi cos- four group firms. To remove at the Tata Group. “It’s (the Barring Mistry, Thursda- added that there was a revamp med the role of chairman in country is expected to take ting extra) could be Rs5,000 and Mistry from boards of listed TCS EGM) the most regrettable y’s board meeting, which was of the audit committee. Earlier, October this year. Gupta’s na- a lead as Jeep is targeting a hJeep made India debut in Rs10,000 on Delhi-London and August this year through Tata companies, a majority of step by the Tatas and murder of Hussain’s first as chairman of the audit committee, during me appears among WGF’s bo- sub four-metre version, Wrangler and Grand Delhi-New York, respectively, shareholders have to agree. In corporate governance as till da- TCS, was attended by all the di- Mistry’s chairmanship, was he- ard of directors with the title of which attracts lower exci- Cherokee, priced upwards one-way,” said Bharath Maha- Tata Motors, Indian Hotels te they have not spelt out why rectors with Ron Sommer and aded by Ronen Sen, with Farida chairman on WGF’s web page. se tax and thus can be pri- of 70 lakh devan, India head of Scoot. The and Tata Chemicals, indepen- Cyrus was replaced as chair- Clayton Christensen joining Khambata and Vijay Singh as According to his profile on the ced more aggressively. LCC flies from Amritsar, Jai- dent directors have supported man,” said Anil Singhvi, chair- in via videoconference. other members. website, he “serves on its board Manley said at the Los Jeep will be launching pur and Chennai to Singapore. as a key strategist in defining Angeles Motor Show that a new SUV Compass in a It will soon merge SIA’s short- direction and focus of the non- the vehicle will be positio- few months and this will haul LCC Tiger into it and then profit organisation”. It said ned “on top of the Eco be the first vehicle manu- fly from eight Indian cities to Banks cut FD Cash flow woes to raise Gupta brings his “considerable Sport” and will be “very factured from its factory at Singapore. skills to WGF, along with his le- close” to the Ford vehicle. Ranjangaon. While Com- However, airlines from adership associations and ad- Manley said that a pass is likely to be positio- Singapore have used up the bi- rates by visory roles to many other non- partnership with Tata Mo- ned at Rs 15-20 lakh, Man- lateral (flying rights) with In- profits such as the Bill & Melin- tors could be explored, but ley said the company may dia, while Indian carriers are up to 100 bps dues in microfin sector da Gates Foundation and The did not answer queries on launch a locally-built Re- still using about half of their Global Fund to Fight AIDS, Tu- whether he was eyeing a negade off-roader below share. So, an increase in bila- New Delhi: Taking advantage TIMES NEWS NETWORK berculosis and Malaria”. tie-up with the Indian com- Compass. teral that could enable Scoot of the surge in deposits follo- Growth may fall 1 percentage pt: HSBC Gupta was one of the hig- pany’s British SUV brand to have low-cost flights to Eu- wing demonetisation, several Mumbai: Microfinance insti- hest-profile defendants convic- Land Rover.