In a statement, a Tata Sons spokesperson dubbed as "untrue and baseless" the reports that the group was holding joint venture talks with the Brazilian firm for production of aircraft.

Earlier, a report from Rio De Janerio in Brazil had quoted sources close to the development as saying that Tatas had offered setting up of a joint venture with the aircraft giant Embraer, which is the only manufacturing firm that makes commercial 120-seater jets.

The talks are in infancy stage but Tata Group, with its expertise in various fields, is considered as a serious contender for the joint venture, the report had said.