The Tata Trusts, holding a 66% stake in Tata Sons, are involved in a leadership struggle that elevate questions about governance and transparency. Subsequent to Noel Tata succeeded Ratan Tata as Chairman of the Trusts in October 2024, pressure have grown among trustees. Four trustees allegedly oppose the incomplete set of information shared by Tata Trusts’ nominated directors on the Tata Sons board, leading to serious concerns over the process of decision making.
The tenure of Ratan Tata was marked by strong personal influence, which confirmed alignment between Tata Trusts along with Tata Sons. Noel Tata, in spite of his family ties and unimpeded appointment, has yet to achieve parallel authority. Particularly, Mehli Mistry, related to the Shapoorji Pallonji family holding 18.37% of Tata Sons, has expressed displeasure over exclusion from key decisions, developing divisions within the Trusts.
A key source of dispute is the nomination of new directors on the Tata Sons board. Noel Tata has proposed candidates including Uday Kotak, lawyer Behram Vakil, and Tata Steel MD T.V.
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Narendran. It remains unclear whether these nominees have undisputed support within the Trusts or from Tata Sons Chairman N. Chandrasekaran.
The pending issue of Tata Sons’ public listing adds complexity. The RBI mandates the listing because of Tata Sons’ classification as a systemically critical core investment firm.
Though, the company lost the September 30, 2025 deadline, and the RBI’s choice on its application to surrender the registration is incomplete. The financially worried Shapoorji Pallonji Group is reportedly pressing for listing to unlock value from its pledged stake.
Tata Trusts board meeting is scheduled for October 10, the outcomes will influence governance restructurings, board recommendations, and Tata Sons’ strategic direction. Given Tata Group’s wide reach, with 26 listed companies valued at $328 billion, the stakes are high for investors and the Indian corporate.
Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
He is committed to entrenched data, facts, research, solutions, and a dedication to value-based journalism. He has covered trade tariff wars, international alliances, corporate policies, government initiatives, regulatory developments, along with micro- and macroeconomic shifts impacting global fiscal dynamics.
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