But Yusuff Ali’s big break came through in 1990 amid the Gulf War.
As many packed their bags to leave the emirate, Ali decided to invest and open a “big hypermarket” in Abu Dhabi, a move that caught the attention of Sheikh Zayed, the ruler there.
“He asked me, how do you have the energy when everybody is abandoning the country,” Ali says. “I told him we are here to stay and that I learnt my business in Abu Dhabi and was not willing to run away from the problem.”
An impressed Zayed called his son, the current ruler, and told him to take care of Ali.
“That relationship continues to this date,” Ali says. “They treat me like family. Even when PM Narendra Modi was visiting, I was seated with the royal family. They treat me like their own.”
When FC Kohli, the founding chief executive of Tata Consultancy Services (TCS) suffered his first cardiac attack, Ratan Tata proposed to JRD Tata that they should sell the company to IBM, reveals the statement released by the office of Cyrus P Mistry.
“When one talks about vision and near death experiences, it is worth recounting a little known fact. Midway during the TCS journey to date, Mr FC Kohli was suffering from a cardiac condition. Mr Ratan Tata was then heading Tata Industries’ joint venture with IBM and approached Mr JRD Tata with a proposal from IBM to buyout TCS. Mr JRD Tata refused to discuss the deal because Mr FC Kohli was still recovering in the hospital from his setback. On his return, Mr Kohli assured JRD that TCS had a bright future and the group should not sell the company. JRD Tata turned down the offer, demonstrating true vision. But, it was also a near death experience for TCS at the hands of Mr Ratan Tata,” the statement says.-from MoneyLife
I remember being asked after I had completed a valuation of Tata Motors a few years ago whether I would buy its stock and shocking my audience by saying that I would never buy a Tata company for my portfolio.
When pushed for my rationale, I said that buying a family group company is like getting married and having your entire set of in-laws move into the bedroom with you;
in investment terms, if I invest in Tata Motors, I will (unwillingly) also be investing in many other Tata Group companies, because about 30-40% of the value of Tata Motors comes from its holdings in other Tata companies.
–wrote Aswath Damodaran,Professor of Finance,New York University
Answer: Make him a Director on a Tata Company Board !
Bhaskar Bhat,MD of Titan, is hugely respected in the industry for his professionalism and integrity.
He also serves on the Board of Tata Chemicals where the following incident took place:
Tata Chemicals Board Meeting appears to have been a dramatic affair. A handwritten note was circulated by Bhaskar Bhat, a director on the board of Tata Chem, asking Mistry not to chair the board meeting.
Bhat instead asked Wadia to chair it. “Bhat was asked by the board to move a formal resolution for removal of Mistry since he was appointed by the board. Bhat refused. He insisted his note be taken on record. But he refused to sign the handwritten note,” said a person close to an independent director.
“The directors told him, ‘This is an unsigned piece of paper dictated to you. You (Bhat) are just the stenographer. If you feel so strongly about what you have submitted, then move a resolution’,” said the person quoted earlier.-from ET