Tata Trusts has challenged Tata Sons' September 17 decision to reappoint N Chandrasekaran as executive chairman for a third five-year term, arguing the resolution is invalid because the Articles of Association require affirmative support from a majority of Trust-nominated directors. The board voted 4-1 in favour, with Trusts chairman Noel Tata opposing and Venu Srinivasan supporting. The Trusts rejected claims of a deadlock, saying the casting vote cannot override the AoA.
Tata Trusts Challenge Chandrasekaran Reappointment, Threaten Legal Battle
Source: Telegraph India