Tata Sons and Tata Trusts seek insurance amid boardroom dispute
Business
Tata Sons and Tata Trusts are both shopping for insurance to protect themselves as their boardroom drama gets messier.
After a tense September 17 meeting, where Noel Tata (from the Trusts) pushed back against making Tata Sons public and reappointing Natarajan Chandrasekaran as chairman, the two sides are preparing for possible legal battles, including possible claims from minority shareholders or regulatory action.
Tata Trusts call chairman reappointment illegal
Tata AIG has already issued policies, but no one has filed a claim yet.
Tata Trusts have called Chandrasekaran's reappointment "illegal," saying it hurts their philanthropic work and makes the group more vulnerable in the market.
With top lawyers now involved on both sides, this leadership rift could spill into court.