Noel Tata faces fresh challenge as two Tata Trusts vice-chairmen question restructuring plan, governance process
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- ✓Noel Tata faces a new challenge as two vice-chairmen of the Sir Dorabji Tata Trust questioned his restructuring plan.
- ✓In a 30 September letter, they said, "The institutional position of SDTT must be distinguished from the views of any individual trustee." They also flagged governance issues to a provincial regulator.
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- India Economy
Noel Tata is finding himself in a new problem in the midst of the Tata Sons boardroom battle, with two vice-chairmen of the Sir Dorabji Tata Trust claiming that he advanced a restructuring plan without any consultation, Bloomberg reported based on a letter the duo sent to the trustees of 30 September.
In their letter, they wrote, "No meeting of the Trustees of SDTT was held," and added that the communication that was issued regarding the restructuring was done in the Trust's name but cannot be considered as the collective decision of the institution.
Srinivasan and Singh also approached a provincial regulator in order to flag their issues with the SDTT governance, as per a petition filed in Maharashtra, the Economic Times reported on Thursday.
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