Reducing cross-holdings among the 150-year-old conglomerate has been one of the top priorities of the chairman since he took charge on February 21. In order to achieve the objective of simplification, Tata Sons will explore all options from consolidation to reducing subsidiaries as it seeks to create value. This was in line with the 'One Tata' focus by Chandra. Read more
Its 50:50 joint venture with ThyssenKrupp will form Europe's second largest firm, after ArcelorMittal. Tata Steel has said it would shift 2.5 billion euros of its debt to the new entity. ThyssenKrupp would also be shifting its liabilities worth 3.6 billion euros that it had gathered from its pension schemes.This partnership will give a financial boost to Tata Steel and will help to create a strong, clean balance sheet. "We have delinked the Indian and European operations of Tata Steel," Chandra said. Read more
Talking of the loss-making telecom arm, Tata Teleservices, he said that it needed urgent attention. However, in order to be revived, it would require an investment of Rs 50,000-60,000 cr. This he believed would make little sense. Read more
In an interview with CNBC-TV18, excerpts of which were released on Monday, he also expressed the group's interest into the Air India disinvestment.
He promised to scrutinise capital allocation to a Tata company, rigorously. "Unless we are fully convinced, we will be stingy with capital. I think for the right project we will find money."
Extending the One Tata concept to the workforce, he said they were working towards building a new team. Talking about changes in the composition of the board, he said, "With the right set of people and collaboration, you can do it."