Tata Sons Board Backs Chandrasekaran Despite Trusts Rift

Tata Sons' board, meeting in Mumbai on September 17, approved a fresh five-year term for chairman N. Chandrasekaran. His current tenure was set to end in February 2027. In August he had said he would not seek a third term after failing to get unanimous board support. Noel Tata opposed the reappointment; Venu Srinivasan reportedly supported it. Tata Trusts own about 66% of Tata Sons, so the proposal still needs AGM ratification. That meeting was adjourned after it failed to meet quorum. Separately, the RBI rejected Tata Sons' bid to surrender its core investment company registration, keeping the firm in the upper-layer NBFC framework and reviving a stock-market listing requirement. Reports differ on whether the board passed a formal listing resolution. The moves leave ratification and any listing path unresolved amid disagreement over governance and capital allocation.