Noel Tata steps down from Tata Investment
What's the story
Noel Tata has stepped down as the chairman of Tata Investment Corporation, a position he held for 16 years. The decision comes in line with the retirement age prescribed under the Tata Group's governance policy for non-executive, non-independent directors. Bahram N Vakil, co-founder of law firm AZB & Partners, will succeed him.
Legacy
Noel's legacy at Tata Investment Corporation
Noel joined the board of Tata Investment Corporation in 2004 and became its chairman in 2010. He also served as Managing Director of Tata International Limited from 2010 to 2021, growing its revenue significantly.
After his retirement, he will be appointed Chairman Emeritus of Tata Investment Corporation for his contribution to the company.
He will also continue as chairman of Tata Trusts and a nominee director on the board of Tata Sons.
New appointment
Who is Bahram N Vakil?
Vakil, a prominent Indian corporate lawyer, is the co-founder of AZB & Partners.
He has extensive experience in corporate restructuring, insolvency, bankruptcy, infrastructure, and project finance.
He holds an LLM degree from Columbia University and is qualified to practice law in India as well as New York.
His expertise includes complex corporate restructuring and insolvency matters where he has advised distressed funds, insolvency professionals as well as domestic and international banks.
Career trajectory
His career before AZB & Partners
Before establishing himself in India's corporate legal sector, Vakil worked as an associate at Debevoise & Plimpton and later at McCutchen, Doyle, Brown & Enersen in the San Francisco Bay Area.
He was a partner at Mumbai-based law firm Little & Co from 1991 to 2001 before co-founding AZB & Partners.
His practice focused on corporate restructuring, infrastructure, project finance, and insolvency matters.
Regulatory roles
His contributions to financial regulation and policy-making
In 2010, Vakil was a member of the UK Sinha Committee's Working Group on Foreign Investment in India.
He also served on the SEBI Advisory Group in 2011 and the Financial Sector Legislative Reforms Committee. These positions highlight his contribution to financial regulation and policy-making.
He was also part of RBI's Task Force on Development of Secondary Market for Corporate Loans, working on reforms related to insolvency, bankruptcy, financial regulation, and foreign investment.