Two of the group’s businesses in Europe — Tata Steel Europe and Jaguar Land Rover — were disrupted due to the pandemic. Both group companies
had to shut down plants and furlough workers. Both companies
were in talks to take a bailout from the UK government.
The group’s airline and hotel businesses, facing the maximum brunt of the pandemic, may get additional funding from the parent. The group had invested additional money in Vistara in April this year, so that the airline could tide over the current crises. The group is also planning to make a bid for Air India.
The shareholders’ meeting comes against the backdrop of additional fund outgo of Rs 14,500 crore from the holding company to Tata Teleservices to pay the adjusted gross revenue dues, according to a Supreme Court order. The Tatas have appealed for additional time to pay the dues.
Insiders said the resolutions to be cleared at the e-AGM are routine. The Chairman of Tata Group N Chandrasekaran is likely to discuss ways to synergise the group’s operations in a post-Covid world.
The meeting will also discuss additional funding requirement of Tata Capital and Tata Motors.