Maharashtra clears 1 Tata trust for Tata Sons chair search
Tata Trusts just got a major boost in its leadership search.
After restrictions due to a complaint related to a 1989 share transfer, the Maharashtra charity commissioner has cleared the way for one of the trusts to hold internal meetings again.
This means they can now focus on choosing a new Tata Sons chairman, following Natarajan Chandrasekaran's unexpected decision to step down as chairman of Tata Sons Pvt. Ltd.
Sir Ratan Tata Trust previously barred
The big hurdle was that Sir Ratan Tata Trust (one of 13 under Tata Trusts) couldn't even nominate someone for the search panel because of those restrictions.
With the complaint resolved as of September 2, one of the trusts can now potentially resume internal meetings and move ahead with picking their next leader, not a definitive end to every obstacle.