A high-level meeting was held at the residence of Home Minister Amit Shah in New Delhi, attended by prominent figures including Noel Tata, Chairman of Tata Sons N Chandrasekaran, Vice Chairman of Tata Trusts Venu Srinivasan, and trustee Darius Khambata. The meeting, which also included Finance Minister Nirmala Sitharaman, was reportedly convened to address the escalating power struggle within Tata Trusts. The Indian government has taken note of the situation, recognizing its potential to disrupt operations at Tata Sons, the holding company of the $180 billion Tata Group.
The crisis revolves around four trustees – Khambata, Jehangir HC Jehangir, Pramit Jhaveri, and Mehli Mistry – who are seeking greater control over key appointments and board oversight at Tata Sons. This includes approval rights for independent directors and access to sensitive board meeting minutes, a move that some insiders believe undermines the autonomy of the holding company. The rift has intensified since Noel Tata succeeded Ratan Tata as chairman of Tata Trusts in October 2024.
The issue is expected to be a major point of discussion at the upcoming Tata Trusts board meeting scheduled for October 10. Meanwhile, Tata Consultancy Services (TCS), the crown jewel of the group, has reportedly decided to skip its usual press conference after releasing its second-quarter earnings. Although the reason for this decision is unclear, it marks an unusual break from tradition.
The government’s involvement in the matter underscores its concern about the potential implications of the power struggle on the operations of Tata Sons and the broader Indian economy. As the situation continues to unfold, it remains to be seen how the conflict will be resolved and what impact it will have on the Tata Group’s future. The meeting with the government ministers suggests that the authorities are closely monitoring the situation and may intervene if necessary to ensure stability and continuity at the conglomerate.