Business

Take a look at N Chandrasekaran's vision list for Tata Group's board meet

Updated : June 25, 2018 01:35 PM IST

N Chandrasekaran, Tata Sons chairman, will present his five-year vision plan for the conglomerate's larger listed companies.

The Tata Teleservices and Bharti Airtel merger along with its financial implications, will also be discussed.

The board is also likely to be briefed about the CBI ongoing investigation into AirAsia India.

Take a look at N Chandrasekaran's vision list for Tata Group's board meet

Tata Sons Chairman N Chandrasekaran will present his five-year vision plan for the conglomerate's larger listed companies on Tuesday in London.

The vision presentation, the first by Chandrasekaran, is likely to focus on Bharti Airtel-Tata Teleservices merger, possible returns for Tata Steel from Bhushan acquisition, ongoing investigation into AirAsia, The Economic Times reported on Monday.

“Chandra is expected to present his vision plan to the board ... it will be a long haul meet,” sources told ET.

The financial implications of Tata Teleservices and Bharti Airtel merger are likely to be discussed in the meet, the report said citing unidentified sources.

This will be the last board meet for Vijay Singh, the current Tata Trusts nominee director. Singh, a former union defence secretary, will retire and will be replaced by S Jaishankar, former foreign secretary.

The board may also take up the proposal of buying 50 additional planes to expand the fleet of Vistara airline, an equal joint venture between Tata Sons and Singapore Airlines.

The board could also be briefed about the Central Bureau of Investigation's ongoing investigation into AirAsia India, sources told the newspaper.

R Venkataramanan, Tata Trusts managing trustee, who holds 1.5 percent stake in AirAsia India, has been booked by the CBI for allegedly bribing government officials to waive off some of the conditions for local airlines to fly overseas.

The vision statement by the chairman is critical for the future plans of the group as Tata Sons is the largest financial supporter of the group companies and in some cases, stands as the guarantor to loans availed from lenders, added the report.

Have you signed up for Primo, our daily newsletter?

It has all the stories and data on the market, business, economy and tech that you need to know.

To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more