MAM
Noel Tata succeeds Ratan Tata as chairman of Tata Trusts
Mumbai: With heartfelt condolences, India bids farewell to Ratan Tata, a visionary leader who dedicated his life to building an organisation that has contributed nearly $103 billion to society. His passing marks the end of an era, but his legacy of service and philanthropy lives on. In the wake of this monumental loss, Noel Tata has been appointed chairman of Tata Trusts, one of the country’s largest philanthropic entities, signalling a significant leadership shift during this poignant time. Succeeding the iconic Ratan Tata, Noel will now steer the Trusts’ charitable and social welfare activities, continuing the Tata legacy of corporate philanthropy. This appointment places Noel at the helm of a $165 billion group that plays a significant role in Tata Sons and its subsidiaries.
The decision to appoint Noel as chairman came after much speculation following Ratan Tata’s long-anticipated departure from the role. Ratan Tata, the revered former chairman of Tata Sons, remains a pivotal figure in the group’s history. Noel’s promotion underscores the Trusts’ commitment to continuity while paving the way for a new chapter.
Noel Tata, a name that resonates within the Tata family, has steadily climbed the corporate ranks. Known for his expertise in retail and international business, he successfully transformed Trent Ltd., Tata Group’s retail arm, into a Rs 1000 crore company. His vision and leadership have been instrumental in expanding Trent’s operations across India. He is also married to Aloo Mistry, the daughter of Pallonji Mistry, making him a key figure linking the Tata and Mistry families.
Under his leadership, Tata Trusts is expected to continue its robust philanthropic efforts, which include contributions to education, healthcare, and rural development. Given his business acumen and family ties, Noel Tata’s appointment is seen as a strategic move to further the Trusts’ growth while safeguarding its values.
Speaking about his appointment, Noel said, “I am honoured to take on this role and contribute to the legacy of the Tata family in fostering social change and corporate responsibility.”
This shift comes at a time when Tata Trusts plays an even larger role in the corporate governance of Tata Sons, holding a significant shareholding. As chairman, Noel is expected to work closely with the board of Tata Sons, ensuring alignment between the Trusts’ objectives and the group’s corporate goals.
The larger implications of Noel’s leadership will likely ripple across the Tata Group’s various businesses, from Tata Steel to Tata Consultancy Services (TCS). Industry experts are optimistic about the fresh yet familiar approach he will bring, given his deep-rooted understanding of the group’s dynamics and the legacy of philanthropic excellence embedded in Tata Trusts.
With this transition, Tata Trusts has signalled its intention to balance tradition with modernity, ensuring the group’s ethical framework remains strong while adapting to the evolving needs of Indian society.
PICTURE courtesy Trent Annual Report
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
