Tata group in able hands, says Ratan Tata

New Delhi: Eminent industrialist Ratan Tata on Wednesday exuded confidence in new Tata Sons Chairman N Chandrasekaran, saying the group is in "very able hands" and expressed hope that the group would always remain ethical.

"I feel the group is in very able hands with Chandra," the Tata group chairman emeritus said while talking to Suhel Seth on CNBC-TV18.

Seth, who runs reputation management firm Counselage, is said to have helped Tata in his personal capacity during the bitter boardroom battle that broke out with the ouster of Cyrus Mistry last year.

The chairman emeritus said the face of the Tatas may change over the years, but he would be proud if it operates with ethical standards.

Almost a year ago, the closely-held company, Tata Sons Ltd had ousted Mistry as chairman of the USD 105-billion cars-to-software group, triggering a bitter boardroom tussle. He was eventually replaced by Chandrasekaran.

Highlighting the ethical values of the group, Tata said: "Some group companies will die, new ones will be born, but the group must always be ethical."

"The group may change and may look different in the next 30 years, but it should embody the same value and same ethical standards that it has had," he added.

The Tata patriarch further said earnings of the salt-to- software conglomerate are used majorly for philanthropic activities and the common good of mankind.

The group, he suggested, "should never forget that most of its earnings go to philanthropy and not into the pockets of the founders and leaders and then it's doing something for the common good of mankind".

On the current government and its policies, Tata made the point that the country would prosper under Prime Minister Narendra Modi.

"I, for one, am optimistic that with Narendra Modi's leadership, India will be that new India he has promised," he said, adding that "we need to give him that opportunity to offer that to the country".

Asked about the group reaching the milestone of 150 years next year, Tata said: "I am very happy to see that we have held together for that period of time although many companies disintegrated in that period and we should do everything to preserve it and continue."