DIVYA DELHI : A fresh power struggle has emerged at the top of the Tata Group after the Tata Sons board approved a five-year extension for Chairman N. Chandrasekaran despite opposition from Tata Trusts Chairman Noel Tata. The board has also decided to move ahead with the potential listing of Tata Sons following regulatory pressure from the Reserve Bank of India (RBI). At the centre of the dispute are two key issues — leadership and the future ownership structure of Tata Sons. Tata Trusts hold about 66% of Tata Sons, giving them significant influence over major decisions. Noel Tata has opposed Chandrasekaran’s continuation and has argued that Tata Sons should remain unlisted. The Tata Sons board, however, backed Chandrasekaran’s continuation by a majority vote. Another Tata Trusts nominee, Venu Srinivasan, supported the board’s decisions. The Trusts have questioned the validity of the reappointment, citing provisions in Tata Sons’ Articles of Association. The dispute is now likely to move to the shareholders’ meeting, where Tata Trusts’ 66% stake could play a crucial role. The outcome could shape Tata Sons’ leadership, governance and listing plans in the months ahead.
