Finally a time has been set in the long awaited announcement. Tata Group is expected to get the successor of Ratan Tata by March next year. At least name of the person is going to be revealed by that time.

A panel has already been formed by the Tata Sons to decide upon the name just two days back. The group currently has sales of $71 billion and has 98 companies under its fold.

The successor is going to be chosen much ahead of Ratan Tata's retirement which is to take place in 2012. Such a time lag is important so that a smooth transition can be ensured.

Ratan Tata has literally become a legend in the conglomerate. It goes to his credit to buy out Corus along with Jaguar and Land Rover.

Nano too was his brain child and has been making headlines not only because of its low-price but also because of sales.

There are rumors that the same will be going to Noel Tata. He has been promoted as the head of international operations and is just 53 years of age.

Besides him, the other names are Arun Sarin and Nuslia Wadia.