TCS chief Chandrasekaran named Tata Sons Chairman

January 12, 2017

Mumbai, Jan 12: Over two months after the unceremonious sacking of Cyrus Mistry, USD 103-billion Tata Group today named TCS chief N Chandrasekaran as the new Executive Chairman of Tata Sons that saw a lot of bad blood recently in the country's most bitter boardroom battle.

Chandrasekaran pti

Popularly known as 'Chandra', the 54-year-old will take charge at the helm of Tata Sons, the main holding company of the salt-to-software conglomerate from February 21.

"The Board of Directors of Tata Sons, at its meeting today, appointed N Chandrasekaran as Executive Chairman. This is as per the unanimous recommendation of the Selection Committee," the company said in a statement.

He was chosen to step into the shoes of interim Chairman Ratan Tata, who took over on October 24 last year after the removal of Mistry. The announcement did not mention Chandrasekaran's tenure at the top. It also had no word on what role the group would give to Ratan Tata, who was made interim chairman after Mistry's ouster.

At TCS, Chandrasekaran would be succeeded by Rajesh Gopinathan, currently the company's chief financial officer. Announcing his appointment, Tata Sons board said: "Mr Chandrasekaran has demonstrated exemplary leadership as the Chief Executive Officer and Managing Director of Tata Consultancy Services.

"We believe he will now inspire the entire Tata group to realise its potential acting as leaders in their respective businesses, always in keeping with our value system and ethics and adhering with the practices of the Tata group which have stood it in good stead."

Chandrasekaran was the CEO and MD of Tata Consultancy Services, the cash-cow for the group, since 2009. A Tata lifer, he had joined the company in 1987. He was appointed as a Director on the board of Tata Sons on October 25, 2016, just a day after Mistry's removal.

The decision to appoint him followed a five-member search committee comprising Ratan Tata, TVS Group head Venu Srinivasan, Amit Chandra of Bain Capital, former diplomat Ronen Sen and Lord Kumar Bhattacharya zeroing in on Chandrasekaran.

The search panel was given four months to find the new head of the promoter company of the major operating firms of the conglomerate, but the decision has been reached even before that.

Chandrasekaran's appointment as Tata Sons Chairman comes at a time when the company is fighting a legal battle at the National Company Law Tribunal with Mistry, who has challenged his ouster.

Yesterday, Mistry family-owned two investment firms had filed a contempt application at NCLT against move by Tata Sons to remove him as director and sought an order to restrain the company from going ahead with its planned EGM on February 6 called to remove him.

In one of the biggest board room battles in history of India Inc, Tata Sons board had removed Mistry as Chairman citing loss of faith in his leadership and for the good of the future of the group, while his predecessor Ratan Tata was brought back as an interim Chairman.

Mistry, on the other hand, had alleged that Tata and other trustees of the Tata Trusts ran alternate power centre and he was reduced to a "lame duck Chairman".

Chandrasekaran had joined TCS after completing Masters in Computer Applications from Regional Engineering College, Trichy, Tamil Nadu.

Under his leadership, TCS generated consolidated revenues of USD 16.5 billion in 2015-16. The company remains the most valuable company in India as of 2015-16 with a market capitalisation of over USD 70 billion.

Outside his profession, Chandrasekaran is an avid photographer besides being a passionate long-distance runner who has completed several marathons around the world, including Amsterdam, Boston, Chicago, Berlin, Mumbai, New York, Prague, Stockholm, Salzburg and Tokyo.

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News Network
April 22,2024

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The BJP has opened its account in the ongoing Lok Sabha elections. The party's candidate from Gujarat's Surat constituency, Mukesh Dalal, has won the polls as all his opponents are now out of the fray.

BJP's Mukesh Dalal elected unopposed from the Surat Lok Sabha seat after all other candidates withdrew from the contest, the party's Gujarat unit chief CR Paatil said today. Today was the deadline for withdrawing nominations.

The nominations of the Congress party's Surat candidate and his substitute were rejected by the returning officer over alleged discrepancies in paperwork, a development that the Congress called an attempt at "match-fixing".

"Surat has presented the first lotus to Prime Minister Narendra Modi. I congratulate our candidate for Surat Lok Sabha seat Mukesh Dalal for getting elected unopposed," Mr Paatil posted on the microblogging website X, referring to the BJP's election symbol.

Eight candidates - seven of them independents - and Pyarelal Bharti of the Bahujan Samaj Party (BSP) withdrew their papers.

The nomination papers of the Congress's Surat candidate Nilesh Kumbhani was rejected on Sunday after the district returning officer Saurabh Parghi found discrepancies in the signatures of the proposers.

The nomination form of Suresh Padsala, the Congress's substitute candidate from Surat, was also found invalid.

The returning officer had said the four nomination forms submitted by the two Congress candidates did not appear genuine. The proposers, in their affidavits, had said they had not signed the forms themselves, the returning officer said in the order.

Congress lawyer Babu Mangukiya said the party will approach the high court and the Supreme Court for relief.

Congress leader Jairam Ramesh in a post on X said the Surat developments indicate "democracy is under threat". "Our elections, our democracy, Babasaheb Ambedkar's Constitution - all are under a generational threat. This is the most important election of our lifetime," Mr Ramesh said.

Mr Ramesh alleged the "distress" of micro, small and medium enterprise (MSME) owners and the business community in PM Modi's "Anyay Kaal" and their anger have "spooked the BJP so badly that they are attempting to match-fix the Surat Lok Sabha polls, which they have won consistently since the 1984 Lok Sabha elections."

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News Network
April 29,2024

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In yet another setback to the Congress party amid the ongoing Lok Sabha elections, its candidate from Indore Akshay Kanti Bam withdrew his nomination on Monday, April 29, days before voting.

Interestingly, he had reached the Collector's office with BJP MLA Ramesh Mendola to withdraw his nomination. He also reportedly joined BJP. 

Senior BJP leader and state cabinet minister Kailash Vijayvargiya in a post on X said Bam was welcome to join the BJP.

"Congress Lok Sabha candidate from Indore Akshay Kanti Bam is welcome in the BJP under the leadership of Prime Minister Narendra Modi, party national president J P Nadda, Chief Minister Mohan Yadav and state president VD Sharma," he said in the post.

The Congress had fielded Bam against sitting BJP MP Shankar Lalwani from the Indore Lok Sabha seat, where polling will be held on May 13.

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News Network
April 26,2024

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The Supreme Court of India on Friday, April 26, rejected pleas seeking 100% cross-verification of votes cast using EVMs with a Voter Verifiable Paper Audit Trail (VVPAT) and said “blindly distrusting” any aspect of the system can breed unwarranted scepticism.

A bench of Justices Sanjiv Khanna and Dipankar Datta delivered two concurring verdicts. It dismissed all the pleas in the matter, including those seeking to go back to ballot papers in elections.

An EVM comprises three units – the ballot unit, the control unit and the VVPAT. All three are embedded with microcontrollers with a burnt memory from the manufacturer. Currently, VVPATs are used in five booths per assembly constituency.

EVM VVPAT case: Supreme Court issues two directives

1.    Justice Khanna directed the Election Commission of India to seal and store units used to load symbols for 45 days after the symbols have been loaded to electronic voting machines in strong rooms.

2.    The Supreme Court also allowed engineers of the EVM manufacturers to verify the microcontroller of the machines after the declaration of the results at the request of candidates who stood second and third. The top court said the request for the verification of the microcontroller can be made within seven days of the declaration of the results after payment of fees.

Option for candidates to seek verification of EVM programmes

•    Candidates who secure second and third position in the results can request for the verification of burnt memory semicontroller in 5% of the EVMs per assembly segment in a Parliamentary constituency. The written request to be made within seven days of the declaration of the results.

•    *On receiving such a written request, the EVMs shall be checked and verified by a team of engineers from the manufacturer of the EVMs.

•    Candidates should identify the EVMs to be checked by a serial number of the polling booth.

•    Candidates and their representatives can be present at the time of the verification.

•    After verification, the district electoral officer should notify the authenticity of the burnt memory.

•    Expenses for the verification process, as notified by the ECI, should be borne by the candidate making the request.
What did the Supreme Court say?

•    "If EVM is found tampered during verification, fees paid by the candidates will be refunded," the bench said.

•    "While maintaining a balanced perspective is crucial in evaluating systems or institutions, blindly distrusting any aspect of the system can breed unwarranted scepticism...," Justice Datta said.

Who filed the petitions?

NGO Association for Democratic Reforms, one of the petitioners, had sought to reverse the poll panel's 2017 decision to replace the transparent glass on VVPAT machines with an opaque glass through which a voter can see the slip only when the light is on for seven seconds.

The petitioners have also sought the court's direction to revert to the old system of ballot papers.

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