Cyrus Mistry, a Tata in all but name

Mistry, who received unanimous backing from the selection committee, becomes Tata`s deputy chairman immediately and will work alongside Ratan Tata for the next 12 months before taking the reins of the Group in December 2012.

Corporates can fund parties in a transparent way: Tata Sons

Making a pitch for "transparent" corporate financing to political parties during elections, a top Tata official said any outfit needed to have a minimum of 3% seats in the Lok Sabha in order to get funds from the company.