Ratan Tata remained unfazed even in the face of crisis
Ratan Tata Birthday Anniversary : There are many stories related to the life of Ratan Tata, one of the country’s biggest industrialists, that reveal his honesty and responsibility. Born on December 28th, on Ratan Tata’s 88th birthday today, we are remembering those historic decisions of his. We are going to tell you about one such old incident from the year 2001. At that time, Tata Finance, a Tata Group company, was in deep trouble. Some company officials had committed misdeeds. In fact, they invested investors’ money in questionable shares and distributed loans worth more than 500 crore rupees to their subsidiary companies. This was a major fraud at that time. When this matter came to light, SEBI (Securities and Exchange Board of India) launched an investigation.
In April 2001, investigating officer Shankar Sharma leveled serious allegations against the company’s managing director, Dilip Pendse, and the entire company. The investigation revealed that a total of ₹875 crore belonging to approximately 400,000 small investors was stuck. The company was on the verge of bankruptcy and in no position to repay the money. Thousands of people were worried because their hard-earned money was about to be lost. Ratan Tata was the chairman of the Tata Group at the time. When he saw this matter, he decided that not a single investor penny would be lost. He always maintained that morality was above the law.
Ford hurt itself and then bought JLR.
The largest and most significant of these is the acquisition of luxury car company Jaguar Land Rover (JLR), which was made by Tata Motors, led by Ratan Tata, from Ford Motor in 2008 for $2.3 billion.
This is considered Ratan Tata’s revenge against Ford Motors, as Ford Motors had refused to acquire Tata Motors’ passenger vehicle segment in 1999. During this time, a Ford executive told Ratan Tata, “Why did you enter this segment when you had no knowledge of the car business? If we buy it, it would be a favor to you.”
This deeply hurt Ratan Tata, and he worked to improve his car. Nine years later, in 2008, when Ford Motor was facing financial difficulties, Tata Motors acquired Jaguar Land Rover from Ford Motor. At that time, Ford said, “By purchasing JLR, you have given us relief.”
Air India returns to Tata Group
Under Ratan Tata’s guidance, the Tata Group acquired the state-owned airline Air India in 2012. This acquisition was made for ₹18,000 crore. The Tata Group has given Air India a new lease of life. Currently, Air India Group has a market share of around 27% in the aviation market. It is the second-largest airline in the country. Currently, the Tata Group’s aviation company has placed orders for more than 500 aircraft with airline companies like Boeing and Airbus.
dream of a lakhtakaiya car
Ratan Tata is considered the father of the country’s most affordable car, the Nano. The idea for the Nano, designed to make cars accessible to the common man, also came from Ratan Tata. Tata launched the Nano in 2008 at a price of just ₹100,000. However, the car was not particularly successful. Its peak sales were 74,527 units in 2012. Due to low sales, production was discontinued in 2018.
Entry into telecom and defence sectors
Under Ratan Tata’s leadership, the Tata Group entered consumer telecommunications. His company, Tata Teleservices, and the Japanese company NTT DoCoMo jointly launched Tata DoCoMo in November 2008. Tata DoCoMo quickly gained popularity in the Indian market due to its low tariffs.
However, persistent losses led NTT DoCoMo to exit the joint venture. The company then ceased operations in 2017, and the business was acquired by Bharti Airtel.
The Tata Group, led by Ratan Tata, entered the defense sector in 2007 through Tata Advanced Systems Limited (TASL). It was one of the first private companies to enter the defense sector.
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