Mumbai, Oct 26 Tata Trusts chairman Noel Tata on Monday challenged the resolution to reappoint N Chandrasekaran as the chairman of Tata Sons, which was passed at the September 17 board meeting of the holding company of the country’s largest conglomerate.
Noel Tata wrote to Tata Sons’ company secretary Suprakash Mukhopadhyay on Monday, challenging the resolution for the reappointment of Chandrasekaran beyond February 2027 as well, which brought the ruptures inside the over-century-old conglomerate’s board out in the open.
Sources privy to the development said Noel has termed the reappointment for five years as void, basing his argument on a slew of factors, including notice and the agenda for the meeting.
Noel contended that the reappointment was taken out of turn and it was not on the agenda at all for the meeting, the sources said, adding that it was limited to a debriefing from the nomination and remuneration committee.
Emails sent to Tata Sons and Tata Trusts seeking comments on the matter did not elicit an immediate response.
Noel, who heads the Tata Trusts that own two-thirds of Tata Sons, had opposed Chandrasekaran’s reappointment when it had been put to vote. Venu Srinivasan, the second of the Tata Trusts’ directors on the board of Tata Sons, sided with the majority in favour of the reappointment.
Other directors who had voted in favour of Chandrasekaran’s reappointment at the meeting included Anita George, Harish Manwani, and Saurabh Agarwal.
As per Tata Sons’ Articles of Association, Tata Trusts’ nominee directors have to give their affirmative vote for a resolution to be passed, Noel contended.
In the letter, Noel also sought an unedited video recording of the board meeting, according to the sources.
(PTI News)
