Deals
Tata Forces India Inc. to Pick Sides at $100-Billion Empire
- Ratan Tata replaced Mistry at Tata Sons in October board coup
- Mistry’s efforts to stay chairman at key units has fueled row
Ratan Tata.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
The brawl atop India’s largest conglomerate isn’t just splitting the $100-billion Tata Group, it’s also forcing the nation’s business community to pick sides.
That’s because many of India’s industry captains are board members at Tata’s dozens of units. They include the heads of the nation’s oldest conglomerate -- the Wadia Group -- top mortgage provider Housing Development Finance Corporation Ltd. and even the dean of Harvard Business School. Given the inter-linkages in the nation’s corporate sector, the repercussions of this fight may be felt for years.