A board meeting of Tata Sons, the holding company of the Tata Group, concluded in Mumbai on Tuesday amid reports of discussions around leadership and concerns over the performance of some group businesses, according to PTI. Directors, including Tata Trusts chairman Noel Tata, arrived at the group's headquarters, Bombay House, in the morning and left in the late afternoon.
No Comment from Chairman
N Chandrasekaran, chairman of Tata Sons, did not comment on the meeting's discussions or decisions while leaving the South Mumbai headquarters. According to reports, a discussion on Chandrasekaran's reappointment was unlikely during the board meeting, which comes amid rising friction within the group.
Weekend Meeting and Financial Losses
Chandrasekaran and Noel Tata, who is a nominee director on the Tata Sons board, are understood to have met over the weekend to discuss the performance of group companies. Reports suggest Tata Group's unlisted businesses posted losses of Rs 10,905 crore in FY25, which could rise to Rs 29,000 crore.
The Tata Group, in which Tata Trusts owns nearly two-thirds of Tata Sons, has recently witnessed a series of top-level differences, including reports of attempts to remove certain members and a delay in taking a decision on Chandrasekaran's continuation as chairman. According to reports, Noel Tata has concerns over rising losses at Tata Sons, particularly in newer businesses launched during Chandrasekaran's tenure, including Tata Digital, electronics ventures and Air India, which the group acquired from the government.
Listing and Succession Issues
Reports also said Noel Tata is reluctant to pursue a public listing for Tata Sons. The company, classified by the RBI among the top-15 non-banking finance companies (NBFCs), falls under norms requiring listing. Neville Tata, son of Noel Tata, has already been inducted into some trusts and foundations associated with the group.
Ready to Make a Smarter Property Decision? Build Your Legacy with TOI Homes. About the Author: TOI Business Desk - The TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
