Tata Group chairman Natarajan Chandrasekaran did not join the annual general meeting of Tata Consumer Projects Ltd (TCPL) on Wednesday, days after the crash of an Air India passenger aircraft in Ahmedabad.
Shareholders joining the virtual meeting of the company were informed that Chandrasekaran, who is chairman of the board of TCPL, was unable to attend the meeting because of “some exigencies”.
P.B. Balaji, a non-executive director of the company, presided over the AGM in the absence of Chandrasekaran.
Before starting the proceedings, Balaji expressed condolences for the Air India tragedy and observed silence in memory of the departed. During the meeting, shareholders offered their support to the Tata Group, which owns Air India.
Organic growth
TCPL will continue scouting for acquisition opportunities in the market while prioritising organic growth, the company said on Wednesday.
The company had acquired Capital Foods and Organic India a year ago for a combined enterprise value of ₹7,000 crore.
“We are always in the market. We have our antennas up, and if there is something sensible at the right price, and it fits in well with our portfolio, we will do that,” he said.