 "A generational change")
According to an insider, the usual high minded banter which emanated from the lofty perch where senior Tata executives reviewed the rest of the country, gave way to a subject wholly unheard of in those hallowed corridors: babies, summer camps and PTA meets!
No, this was not an innovative delve into the business opportunities presented by India's unique demographic profile. Instead, for the first time in decades, one of the managers around that polished boardroom in Bombay House, historically occupied by august grandfathers, was a young dad of teenagers.
What was the House of Tata coming to? And what on earth would the childless JRD or (in fact his successor Ratan) be thinking?
This scene replayed itself in my mind when I read about the affable Mistry's first big organisational upheaval after his initiation as Chairman: the creation of a new 'group executive council' comprising, for now, three capable men, cherrypicked for their abilities. (No women yet - so still room for more upheaval.) Men so young that you would be forgiven for thinking they were fresh from celebrating their IIM graduations.
This teenage-like triumvirate represents an awesome leap forward for the Tatas: a generational shift from elderly, patrician, somewhat otherworldly statesmen to young talent and fresh blood. It is not only being viewed as a harbinger of things to come but as wholly in keeping with the demographics of India.
But, of course, given the thrall India's premier corporate house holds over the markets, minds and media watchers of this country, the question I asked myself (along with countless others I am sure) is this: will these relative youngsters be worthy custodians of "The Tata Conscience" while at the same time pushing ever further the boundaries of commerce?
Because, let's face it, the financial muscle of the Tata Group is only one half of its success story. For long, it has been the conscience keeper, the heart of corporate social responsibility and the benchmark of the moral high ground in India. (Not withstanding a few glitches likes Singur and NaMo, which so dismayed some of its admirers.)
Of course, generational change is generally at the heart of India's family model of capitalism. But the baby boomers running up and down the corridors of Bombay House are an altogether different and credible rendering of the generational change: this is meritocracy at play and big numbers are at stake on the Tata balance sheet.
In choosing youth over experience, Mr Mistry, a relative senior at 45, is perhaps voicing his biggest priority: moving the geriatric aristocracy out of the way and allowing newcomers - 30, 40 years younger - to flex their muscles, even while he emphatically and unequivocally announces a change of regime and indicates a shift in managerial approach.
Raw it may be, but like diapers and teenage puppy love, it has a soft side. It is quite common, for instance, to bump into the 'teenage talent' running Bombay House at weekend parties in Mumbai, where rock music and not Western- (Parsi selected) classical music rings the room.
In fact, I have to say, I can scarcely begin to comprehend that the cherubic-looking and fresh faced exuberant young man who greeted me on the dance floor at a sea-facing suburban home recently is the same young person commandeering affairs in the board room of Bombay House. Welcome to New India!
Malavika Sangghvi is a Mumbai-based writer malavikasangghvi@hotmail.com