Tata Sons board is set to meet again on Friday to take the assessment and review of the COVID-19 situation forward, sources told CNBC-TV18. The meeting comes a month after it held its first meeting in June to assess the performance of the group and group companies.

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According to the sources, who did not want to be named, the board will take stock of developments across the group amidst the crisis and assess the impact on individual companies. With many states unlocking, it is important to discuss operations across group companies and the plan of action for states that are undergoing more lockdowns.

Another key point on the anvil is fund infusion into group companies after assessing the requirements, said the sources. The two companies to keep a close watch on this are Tata Steel and JLR.

The UK government has been analysing infusing additional liquidity into companies like Tata Steel UK and Jaguar Land Rover. Tata Sons has been in talks with the UK government for this but the government is largely keen on infusing liquidity in exchange for equity in the companies, a condition that Tata Group is not okay with, confirmed sources.

It will also assess the debt reduction plan for companies as it wants to deleverage and reduce risks across the group. A long-term strategy for businesses like aviation, consumer, and IT may also be on the agenda.

The group may also look at fast-tracking merger of businesses with a similar business focus, something that has been on the agenda for some time. Reports have also indicated that Tata Sons is the only company in the race for Air India assets. The strategy for bidding for the aviation major may also be on the agenda.

First Published:Jul 17, 2020 10:02 AM IST