Tata Trusts challenges Chandra's reappointment
Tata Trusts has argued that the company's Articles of Association require affirmative support from a majority of Trust-nominated directors and that a chairman's casting vote cannot override that condition.
The Tata Trusts has contested the validity of Tata Sons' decision to reappoint N Chandrasekaran as chairman, claiming the Articles of Association require affirmative support from a majority of Trust-nominated directors. The Trusts argue that a chairman's casting vote cannot override this condition. The Trusts, which hold about 66% of Tata Sons, voted against extending Chandrasekaran's tenure, while Venu Srinivasan supported the extension.
The Trusts say the overall board tally is irrelevant, as the Articles impose a separate requirement for Trust-nominated directors. They maintain the resolution was not validly passed and is legally void from the outset. Tata Sons proceeded as if the board had validly approved the reappointment.
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Also reported by 2 other outlets
- Tata Trusts challenge validity of Chandra reappointment, Chairman’s casting vote indianexpress.com
- Tata Trusts says Chandra reappointment invalid, invokes Mistry case business-standard.com
