Noel Tata opposes N Chandrasekaran reappointment at Tata Sons AGM
Big week for the Tata Group: Tata Sons is holding a key vote at the upcoming AGM to decide if N Chandrasekaran stays on as director.
The twist? Noel Tata, who heads Tata Trusts, isn't on board with his reappointment.
This puts major group companies like Tata Motors and Tata Steel, with about 10 operating companies collectively owning 12.86% in Tata Sons, in an awkward spot.
Tata Sons may seek NCLT help
Chandrasekaran's future as executive chairman hangs on this vote: he's been leading since January 2017, but without shareholder approval, he could lose the top job and it might shake up how things run at Tata Sons.
The AGM itself was already delayed because of attendance issues linked to trust representatives, so now they might even need help from the National Company Law Tribunal to let the AGM proceed despite the unresolved issue over representation of the Tata Trusts.