Nusli Wadia

Chairman, Wadia Group

Birth DetailsFebruary 15, 1944 | Mumbai

NationalityIndian

LeagueBusiness Leader

Net Worth$3.8 billion (As of March 26, 2021)

Nusli Wadia's Assets:

Britannia Industries Limited
Bombay Burmah Trading Corporation
Bombay Dyeing & Manufacturing Corporation Limited
Go Airlines India Limited
Bombay Realty

Nusli Wadia's Journey so far ...

Nusli Wadia joined his family’s business group -- which was founded by Lovji Nusserwanjee Wadia in 1736 -- as the chairman of Bombay Dyeing & Mfg Co Ltd. in 1977
He became the chairman of Bombay Burmah Trading Corp in 1982
He took charge of Britannia Industries Ltd. as its chairman in 1993
He has also held board seats in several Tata Group companies including Tata Engineering & Locomotive (1998-2003), Tata Iron & Steel Co Ltd. (1979-2005), Tata Steel Ltd. (2005-2016), Tata Chemicals Ltd. (1981-2016) and Tata Motors Ltd. (1998-2016)
Wadia is also the chairman of GO Airlines India Pvt Ltd
Wadia was appointed to the Prime Minister's Council on Trade in 1998 where he served as a convener till 2004
Currently, he chairs the Wadia Group which has presence in various sectors including real estate, aviation, consumer products, plantations, chemicals and healthcare

Before you go ...

He is the grandson of Muhammad Ali Jinnah -- the founder of Pakistan
He has often been referred to as a corporate samurai because of the notable business battles he fought during the 1970s and 1980s; including with the likes of Dhirubhai Ambani and Ratan Tata
When he was 26, he saved Bombay Dyeing from being sold off to the Calcutta-based industrialist RP Goenka
Wadia is associated with various charitable and educational institutions and also plays a big role in the group's philanthropic efforts

Last Updated: 26/03/2021

Nusli Wadia News

Britannia ready to lose on margins to gain on volumesBritannia, the largest biscuit maker in India, is targeting double-digit volume growth despite potential price increases for wheat and sugar post-elections. The company is also focusing on expanding adjacent businesses and building its core biscuit portfolio. The company plans to align its service towards high-potential retail outlets, build AI-enabled predictive ordering, and upgrade salesforce automation.
Would be aiming for double digit volume growth; post elections it will be slight inflationary: Britannia's BerryBritannia's Varun Berry prepares for post-election commodity price surge, aiming for growth despite margin erosion. The firm focuses on market route project, service alignment, and salesforce automation to tackle regional competition and pandemic-led disruptions.
Britannia explores JVs to enter high-margin categories such as chocolates, fresh dairy and salty snacks"Chocolates is a big market but difficult to penetrate and therefore, it will only be through a JV if and when it is possible," he said. "We are present in multiple categories and want to get them larger before going to others. The go-to-market strategy with the help of Bain will help identify blank spaces more precisely to ensure improved distribution of its products across markets," Varun Berry, vice-chairman and MD, said.
Nusli Wadia blames P&W for grounding of Go First, alleges Rs 10,000 crore damage due to faulty enginesGo First bankruptcy: "Over the last two years, P&W's inaction and contractual defaults irreparably financially damaged Go First, putting at risk several thousand employees and a national asset serving millions of passengers," the reclusive Wadia Group chairman Nusli Wadia told ET in an exclusive interaction.
Wadia group looking for partners to bid for Go FirstThe resolution professional of Go First has invited Expression of Interest (EoI) in the company from investors. The EoI allows a company or a consortium to bid for the airline by August 9.
View: It’s bankruptcy that needs a rescue in IndiaThe 2016 insolvency law was crafted when the country was just starting to tackle what would eventually rank among the worst piles of bad loans anywhere in the world: a $200 billion-plus menace. With banks garnering bumper profits in the post-pandemic high interest-rate environment, that baggage is now much lighter, and the urgency to deal with it lower.
Go First: How Jeh Wadia built an airline and then pressed exitGo First blames faulty engines of Pratt & Whitney grounding its planes and plunging it into bankruptcy, but it also has had a troubled history including a father-son tussle and Jeh's dramatic exit.
Why airlines keep folding in India’s booming aviation marketIndian airlines have faced fierce competition amongst each other as they have ordered billions of dollars worth of planes for an emerging middle class wanting to travel. It is a difficult market due to a mix of low-cost fares, high taxes on fuel and competition, which has only worsened due to the pandemic.
Britannia watching Reliance's FMCG strides very closely, says Varun BerryIn his first interview since succeeding Nusli Wadia in October last year who is now chairman emeritus of the group, Berry said: "Reliance has very deep pockets, so we'll have to watch out. We'll have to treat this as a very, very dynamic and a very quick changing scenario and make sure we match our steps."
CBI court refuses to call Mukesh Ambani as witness in 1989 Nusli Wadia murder attempt caseIvan Sequeira, one of the accused in the more than 33-year-old case, had moved the special Central Bureau of Investigation (CBI) court last year seeking to examine Mukesh Ambani as a witness.
After turning around Britannia, Varun Berry to pilot Go First as ChairmanBerry, 61, who was a director at the carrier, will steer the company in a challenging environment for aviation ahead of plans to tap the capital market. He succeeds group promoter Nusli Wadia, 78, who becomes chairman emeritus. Ben Baldanza, former CEO of US carrier Spirit Airlines, will continue as vice chairman of GoAir, having come on board in March last year.
CBI opposes plea to call Mukesh Ambani as witness in 33-year-old Wadia murder conspiracy caseThe central probe agency, in its reply, said the accused had no right to seek further investigation at this stage of the case, and his application should be dismissed.
View: An attitudinal change can turn Go First's direction and future course quite rapidlyThe failure to retain top management ensured that Go First never grew at the pace it might have had it been in steadier hands. Although it started before IndiGo, Go Air remained in 'idling' position for a long time.
No substitute for price hike says Britannia's Varun BerryThe country's biggest biscuits maker said inflation during the current year is higher than the past six years combined, led by palm oil that increased 54% and industrial fuel and packaging material prices which surged 30-35%.
GoAir and its promoter spar over trademark amid IPO planAfter flying for 17 years as ‘GoAir’, owner Nusli Wadia, in an abrupt move, changed the carrier’s brand to ‘Go First’. The rebranding was initiated ahead of taking his company Go Airlines public.
The Britannia Way: Wadias to forsake executive roles, remain shareholdersWhile shares of Britannia, the flagship company led by a non-family professional, have given a return of 42% in the last three years, the other three companies of the group have given a negative return.
Jeh Wadia quits as Bombay Dyeing MDIn a regulatory filing, Bombay Dyeing said Jeh will not be renewing his contract as MD of the company that expired on March 31. The 47-year-old Jeh, the second son of group chairman Nusli Wadia, took over as the MD of Bombay Dyeing on April 1, 2011.
Bombay Dyeing and Manufacturing MD Jeh Wadia steps down"In keeping with the objective of professionalisation of the management, Jeh Wadia, MD of The Bombay Dyeing and Manufacturing Company Ltd has stepped down and will not be renewing his contract as Managing Director of the company which has expired on March 31, 2021,” the company said in a regulatory filing.
Jeh Wadia steps down as MD; Ben Baldanza appointed vice chairman amidst IPO buzzThe appointment of Ben Baldanza is a part of GoAir's long-term plans as it looks into the next phase of growth, the airline said in a release.
Nusli Wadia to withdraw defamation cases against Ratan TataNusli Wadia accepted a statement made by the Tata Group in the top court that there had been no “intent to defame” in the letters removing him as independent director. Through senior advocate CA Sundaram, Wadia said he was “willing” and “ready” to withdraw the cases.
Ratan Tata and Nusli Wadia should 'talk it out' says SC in defamation caseThe Supreme Court Monday asked Bombay Dyeing chairman Nusli Wadia and Ratan Tata, chairman emeritus of Tata Sons, to sit together and resolve their differences in a defamation case.
Cyrus Mistry's ouster was a vindictive act of one person: Nusli Wadia"I am proud that I was the only independent director who believed in Cyrus and was opposed to his unjust removal," Wadia said.
India's 10 richest people: How much they lost and gained in the past one yearDid you know that Mukesh Ambani's networth is equal to 2.1% of India's GDP? And even after losing 10% of his networth, Lakshmi Mittal is still worth $12.4 billion? Read on to see how much India's 10 richest men gained and lost in the past year.
GoAir plans to add one aircraft a month: Jeh WadiaThe airline plans to start operation to its eighth international and 25th domestic destination--Singapore and Aizwal, subject to regulatory approvals.
Won't slowdown, building a Britannia for the future: Nusli WadiaBritannia wants to set up a new plant in the East and step up presence in Northeast, Wadia said.
D-Street lost Rs 6 lakh cr year to date; but these billionaires still made billionsWadia Group Chairman Nusli Wadia's wealth dropped by about $1.44 billion to $5.86 billion.
Bombay HC allows Ratan Tata's plea to quash defamation suit in lower courtIn March, Ratan Tata and other members of Tata Group had moved the Bombay HC to quash the two-year-old criminal defamation case filed by Nusli Wadia in a trial court.
'Outsiders’ in Bombay: Lisa Ray reveals why she bonded with Maureen Wadia in the ‘90sMaureen, the wife of industrialist Nusli Wadia, played a pivotal role in launching Ray.
Ness to stay on board of Wadia group cos after favourable legal viewIndependent directors had sought an external legal view on the issue amid Ness’ conviction in Japan for possessing drugs.
Britannia Industries seeks legal advice on Ness Wadia's roleThere’s still no consensus on the effect the drug conviction will have on Ness’ role in the family-run Group.
Business magnate's son Ness Wadia is no stranger to controversyUnlike others in his illustrious family, headlines tend to chase Ness Wadia for the wrong reasons. The elder son of Wadia Group chairman Nusli Wadia, and great-grandson of Pakistan’s founding father Mohammad Ali Jinnah
Japanese ruling not to hit Ness Wadia’s board roleNess, 47, first joined the board of Bombay Dyeing in 2001 and later other Wadia companies.
Wadia Group shares plunge up to 17% on Ness Wadia's sentencing in JapanNess, who is the co-owner of Kings XI Punjab team, is the eldest son of Nusli Wadia and and heir to the Wadia group.
Ness Wadia given jail term in Japan on drug chargesA Japanese court sentenced the elder son of industrialist Nusli Wadia to two years in jail for possession of 25 gm of cannabis resin last month.
GoAir sees exodus of 15 senior executives in past nine monthsThe Wadia group-promoted budget carrier does not have a CEO since the departure of Cornellis Vriewijk in February.
HC stays Wadia defamation plea hearing against Ratan Tata, othersNusli Wadia had filed the case in 2016 after he was voted out of the boards of some Tata Group companies.
Market Movers: Massive farm loan waiver in MP, LIC stock purchases under radar & S&P warning over RBI spatS&P Global Ratings said the circumstances that led up to the recent resignation of Urjit Patel as RBI governor were credit negative for the country.
Wadia defamation case: Court issues notices to Tata, othersThe notices were issued by the Esplanade court of Additional Chief Metropolitan Magistrate MI Lokwani last Saturday and posted the matter for further hearing on March 25, 2019.
Jinnah House row: Bombay HC allows Nusli Wadia to replace his mother as petitionerIn yesterday's order, the high court had said it is keeping this issue open, and it can be raised at the time of the hearing of the main petition about Jinnah House's ownership.
Nusli Wadia’s ghost presence on Tata Motors board creates buzz at AGMWadia was removed from the boards of 3 Tata Group companies on December 22, 2016.
Nusli Wadia hints he may exit Britannia board soonBritannia’s board includes Nusli Wadia, MD Varun Berry, and three promoter directors — Ness Wadia, Jeh Wadia and AK Hirjee.
GoAir names former easyJet executive Cornelis Vrieswijk as CEOIn a statement, the airline said he will be reporting to the “Chairman (Nusli Wadia), Managing Director (Jeh Wadia) and the Board of Directors of GoAir.
Nusli Wadia richest newcomer on Forbes India Rich ListThough there has been a significant rise in the number of billionaires, but only six could make the cut in the top 100 club on the Forbes India Rich List 2017.
Britannia to spend Rs 1000 crore at Ranjangaon plantWadia said that the company was also planning to set up a diary project at the food park with a capacity of seven lakh litres per day.
Tata Steel MD TV Narendran took home Rs 8.17 crore salary in FY17Company Secretary Parvatheesam K received a hike of 24.98 per cent with his remuneration rising to Rs 1.53 crore last fiscal, as compared to Rs 1.22 crore in the preceding fiscal.
Why removal of independent directors is not an ordinary affairThe Companies Act prescribes the criteria for an individual to be eligible for appointment as an independent director.
Sebi seeks changes in Companies Act; independent directors’ ouster may get tougher nowThis comes in the wake of Nusli Wadia’s removal by Tatas from 3 listed cos — Tata Chemicals, Tata Motors and Tata Steel — following a boardroom battle.
Wadias to buy out Solvay’s 25% stake in National PeroxideWadia Grp has agreed to acquire a 25% stake held by Belgium’s Solvay Chemicals in National Peroxide in a deal that will mark the end of a 45-year-old partnership.
Suit by Tata Group minority shareholders adjourned to March 7The matter was listed on board but did not reach for hearing. Justice S J Kathawala adjourned it till March 7.
Natarajan Chandrasekaran has plenty of legal stuff on his plateWadia’s contention was that a special notice seeking his removal as independent director of three Tata group companies contained allegedly defamatory statements.
Sebi seeks detailed explanations from Tata firms on Mistry, Wadia allegationsThe regulator has been keeping a close watch on the developments related to the group and has already carried out a preliminary inquiry into the allegations.
Sebi seeks explanation from Tata group companies"We have sought responses based on the letters we have examined raising insider trading and corporate governance issues," said a senior Sebi official.
Nature of defamation case stumps Nusli Wadia’s witnessesWadia, who’s been removed as independent director from Tata Steel and Tata Motors, has filed a criminal defamation case against Ratan Tata, Tata Sons and its board of directors.
Nusli Wadia voted out of Tata ChemicalsTata Chemicals also said the shareholders have approved a resolution to appoint Bhaskar Bhat as a director of the company with 79.26 per cent of votes going in his favour.
These days are very lonely and painful, says Ratan Tata"And these days are very lonely because the newspapers are full of attacks, most of them unsubstantiated but nevertheless very painful," he said.
Nusli Wadia terms his removal from Tata Motors as costly victory for TatasHis reasoning being almost half of the institutional and retail shareholders voted in his favour, as they voted against the resolution.
Tata Motors shareholders vote to oust Nusli Wadia from boardOut of 293.8 crore shareholders, 205.45 crore or 69.93 per cent participated in the voting on the resolution, according to a regulatory filing by the company.
Nusli Wadia files defamation case against Tata Sons, Ratan TataWadia, a long time associate of Ratan Tata, had earlier condemned the sudden decision of firing Cyrus Mistry from the post of chairman on October 24.
Majority of shareholders voted to remove Nusli Wadia from Tata Steel boardOf the 32.995 crore non promoter shareholders who voted, 82.5% voted in favour of the resolution, while 17.5% voted against the resolution.
Wadia skips Tata Motors EGM; shareholders spar over his ousterThe outcome of the voting at the extra-ordinary general meeting (EGM), called specifically to remove Wadia from the company's board as an independent director, is awaited.
Tata Steel plunges over 3% post Wadia's ouster from company's boardIndependent director Nusli Wadia was removed from the company's board, with 90.8 per cent of shareholders present at yesterday's EGM voting in the favour.
Vote with your conscience, Nusli Wadia tells Tata Motors ShareholdersNusli Wadia said what is at stake now is not whether he is removed or not but the fate of the very institution of the independent director that has been created in law and by SEBI to safeguard the interests of all stakeholders.
Over 70 per cent Tata Motors shareholders vote in favour of resolution to remove Nusli WadiaWhile the mood at the EGM was strongly in favour of Ratan Tata amongst 840 shareholders or their proxies attending the meeting, there were a few voice of concerns asking for specific reason for the ouster of Nusli Wadia.
Nusli Wadia stays away from Tata Steel EGMWadia, however, asked the shareholders to vote against the proposal and continued his scathing attack on Tata Sons and criticised the group's continued steel investments in Europe.
Tata Steel EGM to decide on Nusli Wadia todayTata Steel had called an EGM to remove Cyrus Mistry and an independent director Nusli Wadia from their board. Mistry on Monday resigned from the boards of six listed Tata companies.
Nusli Wadia met Sebi Chairman UK Sinha on November 24 on Tata Group issuesA Sebi official confirmed receiving Wadia's letter raising concerns about corporate governance issues at Tata group companies and said it will examine them.
Nusli Wadia not to back down in fight against TatasShareholders of three companies -- Tata Steel, Tata Motors and Tata Chemicals -- are scheduled to vote on resolutions moved by Tata Sons to remove Wadia, who is an independent director, from their boards on December 21-23.
Even if Nusli Wadia’s voted out, don’t fill seat till further orders: HCThe court has allowed Tata Motors, Tata Chemicals and Tata Steel to go ahead with its scheduled EGMs and to act upon the results of the voting.
Nusli Wadia accuses Tatas of violating insider trade rules, urges Sebi to probeIn 2015, Ratan Tata and Soonawala had insisted that the board of directors of these companies pass resolutions to permit the management to legally pass information to the board of directors of Tata Sons.
Tata firms to proceed with EGMs on Wadia removal as HC doesn't restrain promoters from votingThe three Tata companies, on a direction of Tata Sons, the Group's holding company, have called EGMs to remove Wadia from their boards under section 169 of the Act.
Bombay High Court to hear suit against Nusli Wadia's removal today"The notice of the motion will be on board for ad-interim relief before... Honourable Justice S J Kathawala on December 16," Tata Steel said in a BSE filing.
Nusli Wadia files defamation case, seeks Rs 3,000 crore in damages from TatasWadia claimed compensation against his childhood friend Ratan Tata and India's oldest business house Tata Sons for various accusations hurled at him.
Nusli Wadia attacks acquisitions made by Tata ChemicalsTata Chemicals called an extraordinary general meeting (EGM) on December 23 to seek shareholders' approval for removing Cyrus Mistry and Wadia as directors.
No reason to review independent director norms: UK SinhaThe comments come in the back drop of heated debate on the role of independent directors in the Tata-Cyrus Mistry row wherein the conglomerate has moved a proposal to remove Nusli Wadia, an independent director.
Tata row: Suit filed in High Court against proposed removal of Nusli WadiaIndependent directors cannot be equated with non-independent directors and cannot be removed under section 169 of the Companies Act, 2013, the suit said.
Angry Nusli Wadia shoots off letter to Tata Motors shareholdersWadia said that he had tremendous respect for the company and expressed disappointment at Ratan Tata's role in the entire episode involving Cyrsu Mistry's ouster as Group Chairman.
Tata shareholders move High Court against rule on removing independent directorsThe three Tata companies, on the direction of Tata Sons, have called an extraordinary general meeting (EGM) next week to remove independent director Nusli Wadia from their boards.
Corporate samurai: Has Nusli Wadia been on Tata boards for too long?Wadia’s battles have become part of Indian corporate lore. Sometimes, just as when he stood by Ratan Tata, the wars were not Wadia’s wars. And yet he fought them.
Nusli Wadia hits back at Tatas proposal to remove him as directorIn a letter to the shareholders of Tata Steel, Wadia said several allegations levelled against him were false, unsubstantiated and baseless.
Global proxy advisory ISS asks shareholders to vote for Cyrus MistryTCS, which contributes a close to bulk of the group revenue and close to 85 per cent of profit, was the first one where Tata Sons replaced the chairman by removing Mistry.
Tata group's boardroom battles trending on Twitter in India's first corporate social faceoffThousands of tweets with hashtags such as #WadiaTruthsTataLies, #CyrusMistryforGovernance and #RaTantrum are trending.
Nusli Wadia writes to Bharat Vasani of Tata Sons Limited slamming the special notice issued to himHe further said in the letter that, far from supplying me with the material which would justify the per se defamatory allegations made against me.
Nusli Wadia to go ahead with defamation cases against TatasWadia also said that as an independent on the board of Tata Steel, Tata Motors and Tata Chemicals, he has no fiduciary duty towards the "undefined Tata Group or Tata companies".
Tata-Mistry spat failed to dent MF confidence; funds bought Tata Steel, TTMT in Oct crashDespite a sharp fall in Tata group stocks in the last week of October, data showed that MF houses bought 42.14 lakh shares of Tata Steel during the month.
Tatas asks Nusli Wadia to withdraw legal noticeIt said Wadia's relationship with JRD Tata and Ratan Tata, who was made interim head, is a personal matter.
Cyrus Mistry, Nusli Wadia to contest removal from Tata Motors at EGMTata Motors said it has called extraordinary general meeting on Dec 22 to consider resolutions moved by their holding company, Tata Sons, seeking removal of Mistry and Wadia.
Cyrus Mistry, Nusli Wadia likely to address shareholders at Tata Steel EGMBoth Mistry and Wadia want to make written and oral representation to the firm's shareholders in respect of their removal, Tata Steel said today.
Tata Steel replaces Cyrus Mistry with OP Bhatt as interim chairmanThe company said this decision was taken to also ensure stability in the larger interest of Tata Steel’s stakeholders including employees and trading partners.
Tata Motors to hold EGM next month to remove Cyrus Mistry, Nusli Wadia from boardThe board of directors of Tata Sons by its resolution dated November 9, 2016, has resolved to propose the removal of Mistry as the director of TCS.
From Ratan Tata & Nusli Wadia to Larry Page & Sergey Brin, friendships that didn't stand the test of timeWhen friends become business partners, even a small disagreement can spell doom for the relationship.
Fourteen stocks in focus on Thursday, 24 November 2016Domestic equity markets are likely to open lower on Thursday following SGX Nifty and mixed global cues.
Tata Motors calls EGM to remove Cyrus Mistry, Nusli Wadia as directorsTata Motors informed that the company's Board of an EGM "to consider and to pass a resolution for removal of C P Mistry, Nusli Wadia as directors".
Nusli Wadia calls Tata Sons’ charges baseless, threatens legal actionIndustrialist Nusli Wadia has sent another defamation notice to Tata Sons and its directors seeking withdrawal of "allegations" against him in an EGM notice to shareholders of Tata Chemicals.
Share details of my complicity with Cyrus Mistry, Nusli Wadia writes to Tata SonsWadia group chairman seeks withdrawal of allegations, says will initiate proceedings against co if it fails to prove charges.
'Independent directors must be free to exercise their judgement'Wadia's decision to go against the Tata group and back Mistry's bid to remain chairman of Tata Chemicals had surprised markets.
Tata Motors meet: Some independent directors may favour Cyrus Mistry while others likely to go with Tata SonsWadia, an independent director is likely to take the lead in endorsing Cyrus Mistry’s role so far. But this time, it may not get unanimous support from the others.
Tata Sons asks Tata Chemicals to call EGM against Cyrus MistryThe move comes a day after Tata Chemicals issued a statement stating that its independent directors on board reposed faith in leadership of Mistry.
Tata Sons calls for EGM for removal of Cyrus Mistry and Nusli Wadia from Board of Tata MotorsWadia and Tata go back many decades and is an independent director in many of Tata companies like Tata Chemical and Tata Motors.
Ratan Tata or Cyrus Mistry: Who will Nusli Wadia back?Wadia has been an independent director of Tata Chemicals since June 1981, Tata Steel since August 1979 and Tata Motors since December 1998.
Nusli Wadia deposes before courtWadia told the special judge during his deposition that during 1987-89, when his son was studying in HP, he was informed one day that his son faced a risk of getting abducted.
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