Tata Trusts put SP Group Rs 25,000 cr plan

The Tata Trusts have officially stated that the decision of N. Chandrasekaran, Chairman of Tata Sons, not to seek reappointment upon the completion of his current term on February 20, 2027, is final and has been accepted. On August 12, 2026, Chandrasekaran communicated his own decision not to run for reappointment, which was made independently and without prior notice to shareholders or discussions with the company's leadership.

The Tata Trusts formally acknowledged this decision the following day and urged Tata Sons to commence the process of establishing a Selection Committee to select a successor, as per the company's Articles of Association.

The Trusts maintain their stance as a majority shareholder's considered judgment, and this position was reaffirmed during today's board meeting. A proposal to reappoint Chandrasekaran on the board received votes from four directors, while Tata Trusts' Chairman Noel Tata opposed it. According to the Tata Trusts, the process for appointing a chairman requires a majority of Trusts' nominee directors to vote in favor, which was not met in this instance.

Therefore, the resolution was deemed legally null and void. Noel Tata provided a legal opinion from Justice Dr. DY Chandrachud (a former Chief Justice of India) supporting the Trusts' stance, but the board did not consider it. The Tata Trusts emphasize their commitment to an orderly and timely leadership transition in the best interests of Tata Sons and the Tata Group.