The two-part case "The House of Tata: Governance Challenges" is based on one of India's oldest, renowned, and most internationalized business groups. The case provides an account of the evolution of the Tata Group with an emphasis on the developments in the last 30 years (the years following economic liberalization in 1991) and the legal tussle between Tata Sons (the Group's parent company) and its minority shareholder (SP Group). The legal battle has been keenly watched for its potential ramifications on the evolution of corporate governance in India, a country marked by controlling ownership of corporations and concerns over protection of the interests of minority shareholders. The first section of Part A of the case, Tata Group: Early History, traces the early years of the Tata Group, its management philosophy, the formation of Tata Trusts, the leadership years of its long-serving legendary chairman, JRD Tata and the emergence of SP Group as a minority shareholder in Tata Sons. The second section of Part A, Ratan Tata Years, begins with the elevation of Ratan Tata as chairman of the Group in 1991 and details the Group's transformation through the institutionalization of formal systems and processes, entry into new industries, bold global acquisitions, and radical innovations such as Tata Nano. Cyrus Mistry Years captures the key strategic choices made by the Group's next chairman, Cyrus Mistry, and his Vision 2025 for the Group. The next section, The October Shock, details the abrupt removal of Cyrus Mistry as executive chairman of Tata Sons and the subsequent controversies that culminated in him being removed as a director in all the group companies. The final section of Part A, Chandrasekaran Years, provides details of the Group strategy under its current chairman, Chandrasekaran.

The two-part case "The House of Tata: Governance Challenges" is based on one of India's oldest, renowned, and most internationalized business groups. The case provides an account of the evolution of the Tata Group with an emphasis on the developments in the last 30 years (the years following economic liberalization in 1991) and the legal tussle between Tata Sons (the Group's parent company) and its minority shareholder (SP Group). The legal battle has been keenly watched for its potential ramifications on the evolution of corporate governance in India, a country marked by controlling ownership of corporations and concerns over protection of the interests of minority shareholders. Part B of the case begins with a section titled The Legal Battle detailing the ensuing legal battle between Tata Sons and Cyrus Mistry at the company law tribunals - the NCLT (National Company Law Tribunal and the NCLAT (National Company Law Appellate Tribunal). This section also captures the disagreement between Cyrus Mistry and Tata Trusts regarding the former's performance as chairman, the role of the board and the role of the trusts in the governance of Tata Sons and Tata Group. The following two sections, The NCLT Order and The NCLAT Order, captures the salient aspects of the contrary rulings of NCLT (in favor of Tata Sons) and NCLAT (which supported the claims of Cyrus Mistry). The final section, Appeal to the Supreme Court, details the appeals filed with the Supreme Court of India, a new controversy between Tata Trusts and SP Group about the latter's ability to pledge their shares in Tata Sons, a settlement proposal by SP Group, and the final verdict by the Supreme Court of India in the legal battle between the two set of parties.

The Early years traces the genesis of the company as Imperial Tobacco Company and the consolidation of its manufacturing and marketing operations. The next five sections trace ITC's evolution under its five Indian chairmen. The Haksar Years begins with a description of Ajit Haksar's career at ITC, including his time at BAT, which shaped his beliefs about the role of professional management and his definition of his role as the company's first Indian chairman. The section outlines context in which BAT's stake in ITC was diluted, and ITC's eventual diversification into hotels and paperboards business. The Sapru Years describes the consolidation of market leadership in cigarettes business following a change in taxation regime and the company's foray into agri-business. The Chugh Years captures the tumultuous relationship between BAT and ITC, announcements of diversification into core sectors like power and the aborted takeover attempt by BAT. The Deveshwar Years traces Y C Deveshwar's initiatives to consolidate and strengthen the core businesses, venture into new businesses such as information technology and the company's growing focus on social imperatives. The company's foray into foods and personal care segment in line with its goal to become the #1 FMCG company in the country is also covered. The Puri Years details the developments in the company under the executive leadership of Sanjiv Puri. The section ends with Puri becoming executive chairman following the demise of Deveshwar. The final section, The Years Ahead, ends with details of challenges faced by Puri including pressure from ESG (environmental, social and governance) investors and questions on the company's continued engagement with the cigarette business.

This two-part case traces the evolution of the Tata Group, one of India's largest and well-known business groups, from inception until date. The first case principally focuses on Ratan Tata's leadership of the Tata Group, from 1991 to 2012. Tata Group History, the first section of the case, traces the early years of the Tata Group, its management philosophy, the leadership years of its legendary chairman, JRD Tata and ends with the elevation of Ratan Tata as chairman of the group in 1991. Leading Change details the group's transformation under Ratan Tata's leadership. Passing the Baton describes the succession process that led to the appointment of Cyrus Mistry as chairman of the group in late 2012. The second case describes Cyrus Mistry's leadership of the group until it ended abruptly with his sudden removal as chairman of Tata Sons on October 24, 2016, and the reinstatement of Ratan Tata as interim chairman.

Supplement to case IMB597. This two-part case traces the evolution of the Tata Group, one of India's largest and well-known business groups, from inception until date. The first case principally focuses on Ratan Tata's leadership of the Tata Group, from 1991 to 2012. Tata Group History, the first section of the case, traces the early years of the Tata Group, its management philosophy, the leadership years of its legendary chairman, JRD Tata and ends with the elevation of Ratan Tata as chairman of the group in 1991. Leading Change details the group's transformation under Ratan Tata's leadership. Passing the Baton describes the succession process that led to the appointment of Cyrus Mistry as chairman of the group in late 2012. The second case describes Cyrus Mistry's leadership of the group until it ended abruptly with his sudden removal as chairman of Tata Sons on October 24, 2016, and the reinstatement of Ratan Tata as interim chairman.

Conglomerates once dominated the U.S. business world. But by the 1980s, they'd been laid low by poor performance, inspiring the belief that focused corporations created more shareholder value. Today conglomerates are largely considered dinosaurs--except, that is, in emerging markets, where diversified business groups, comprising numerous unrelated enterprises, are flourishing. The authors, who studied Indian business groups for five years, believe that the key to these organizations' success is their structure. Unlike corporate divisions, a group's affiliate companies are legally independent. That allows them to raise capital, set strategies, and create incentives more effectively. Affiliates don't report directly to the leaders of the business group but are overseen by the group center, a management layer in the group chairperson's office. It coordinates the identity work that unites and inspires affiliates' employees, and helps affiliates spot and seize opportunities, share resources and talent, and collaborate on strategic activities. Business groups using this model are not only profitable; they also outperform other companies in their markets.

The case traces the evolution of ITC Limited (ITC) from its inception as a marketing subsidiary of British American Tobacco (BAT) in 1910 to one of India's most valued diversified corporations. Remarkably, despite being a dominant market leader in the socially undesirable tobacco business, ITC is regarded as a responsible corporate citizen. Even more significantly, ITC which regards itself as an "Indian" company in which BAT, its ''erstwhile parent'' is a large and important ''shareholder'', can be held out as an exemplar of the India Way - looking beyond stockholders' interests to public mission and national purpose - articulated by Professor Peter Cappelli and his colleagues at Wharton. The century long story is captured in five sections. While first section traces the early years of the company, the next four sections present ITC's evolution under its four Indian chairmen. The "Haksar Era" outlines the strong nationalist context in which BAT's stake in ITC was diluted, and the company's diversification into hotels and paperboards businesses. "The Sapru Era" describes the consolidation of market leadership in cigarettes and the company's foray into agri-business. "The Chugh Era" captures the tumultuous relationship between BAT and ITC, and the aborted takeover attempt by BAT. "The Deveshwar Era" traces his initiatives to strengthen the core businesses, diversify into new areas and embed a strong focus on social imperatives. The case concludes with questions on the company's goal to become the No. 1 FMCG (fast-moving consumer goods) company in the country, and the succession challenges faced by Deveshwar.