Tata v Tata: What’s behind India’s big boardroom brawl?
India's most famous conglomerate is knee-deep in feuds over who gets to decide the Tata Group's future.
New Delhi, India – An unprecedented power struggle has erupted at the top of one of India’s largest conglomerates, pitting the board of its holding company Tata Sons against its majority shareholder Tata Trusts.
Last week, Tata Sons extended Chairman N Chandrasekaran’s term and said it would consider publicly listing the holding company, flying in the face of the family charity that controls the 158-year-old Tata Group.
Extending Chandrasekaran’s chairmanship and taking Tata public is at the heart of the family-linked feud – and its outcome will not be limited merely to the group’s headquarters at Bombay House.
The Shapoorji Pallonji Group holds an 18.4 percent stake in Tata Sons and is its second-largest shareholder.