UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
For the Month of February 2015
Commission File Number: 001-32294
TATA MOTORS LIMITED
(Translation of registrant’s name into English)
BOMBAY HOUSE
24, HOMI MODY STREET,
MUMBAI 400 001, MAHARASHTRA, INDIA
Telephone # 91 22 6665 8282 Fax # 91 22 6665 7799
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ¨ No x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes ¨ No x
Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
Yes ¨ No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g 3-2(b): Not Applicable
| TABLE OF CONTENTS | |
| Item 1: | Form 6-K dated February 27, 2015 along with the Press Release. |
| SIGNATURE | |
|
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly
authorised. | |
| Tata Motors Limited By: /s/ Hoshang K Sethna Name: Hoshang K Sethna Title: Company Secretary Dated:February 27, 2015 | |
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| TATA MOTORS LIMITED | |||||||
| Bombay House 24, Homi Mody Street, Mumbai 400 001, Maharashtra, India |
Tata Motors announces initiatives for enhancing competitiveness
Mumbai, February 27, 2015: In continuation of its steps to respond to an increasingly competitive business environment and macro-economic pressures that have resulted in depressed growth of the commercial vehicle and passenger car businesses in India, Tata Motors today announced new initiatives designed to enhance the Company's competitiveness. The people initiatives will extend to all categories of employees, including workmen and the managerial cadres. Key focus areas will include productivity benchmarking, cost optimization and job enrichment, for a more effective and efficient organizational structure aligned to market demand.
As a part of these initiatives, the Company has announced a Voluntary Retirement Scheme (VRS), presently intended for the workmen. In keeping with Tata Motors' practices, a generous benefits package will be offered to employees who opt for the scheme, including a monthly payout (Basic + DA) that begins at the date of separation till the employee turns 60 years of age, thus ensuring an assured monthly income as opposed to just a one-time payment of a single amount. A unique feature of the offer is also the provision of a medical insurance cover for a period of 10 years post separation. These are in addition to normal retiral benefits such as PF, gratuity, superannuation (if applicable), encashment of unavailed leaves, LTA due but not claimed, etc.
The Company's people initiatives will complement the strong product portfolio it has announced till 2020, including the launch every year of two new products for its passenger vehicle business, and several new products and variants for its commercial vehicles business. The Company is determined to meet these plans by creating a strong, robust, global and customer-centric organization that is able to compete effectively while ensuring a strong future for its people.
About Tata Motors
Tata Motors Limited is India's largest automobile company, with consolidated revenues of INR 2,32,834 crores (USD 38.9 billion) in 2013-14. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 8 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles and among the top in passenger vehicles. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, CIS and Russia.
(www.tatamotors.com ; also follow us on Twitter: https://twitter.com/TataMotors)
Safe Harbor: Statements included herein may constitute "forward-looking statements". Forward-looking statements are based on expectations, forecasts and assumptions by management and involve risks, uncertainties, and other factors that may cause our actual results, performance or achievements to materially differ from those stated. We cannot be certain that any expectation, forecast or assumption made by management in preparing these forward-looking statements will prove accurate, or that any projection will be realized. More detailed information about these and other factors that could affect future results is contained in our annual reports and filings with the Securities and Exchange Commission. Our forward-looking statements pertain to the date of their initial issuance, and we do not undertake to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.