Noel Tata and N Chandrasekaran reportedly met over the weekend, ending a three-month communication gap between the chairmen of Tata Trusts and Tata Sons amid differences within the top rung of the group. The meeting took place ahead of the Tata Sons board meeting scheduled for May 26.
According to a report in Business Standard, the meeting is believed to have been a courtesy call to set the agenda for the upcoming board meeting, which is expected to continue discussions left unresolved at the February 24 meeting. Neither Tata Trusts nor Tata Sons officially confirmed the meeting between Noel Tata and Chandrasekaran.
At the February meeting, Noel Tata, chairman of Tata Trusts which holds around 66 per cent in Tata Sons, raised concerns over the financials of group companies including Air India, Tata Digital and Tata Electronics, as per the report. He also reportedly linked the profitability of several Tata entities to Chandrasekaran securing a third term as chairman.
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Noel Tata also expressed that Tata Sons should remain unlisted. The May 26 meeting is significant as it is expected to influence the Tata group’s future leadership, especially as the conglomerate focuses on capital-intensive sectors like artificial intelligence, defence, electronics, manufacturing and semiconductors.
Differences between key Tata trustees have been hard to miss. Noel Tata and Venu Srinivasan, chairman emeritus of TVS Motor, have held opposing views on the listing of Tata Sons. Recently, Noel Tata did not support Srinivasan’s continuation as a trustee on Tata Education and Development Trust.
This development is important as the Maharashtra Public Trusts (Amendment) Ordinance, 2025 requires unanimous approval for appointments and reappointments, replacing the earlier majority approval. Two key reappointments, those of Srinivasan and former Defence Secretary Vijay Singh, were due but did not go through at Tata Education and Development Trust.
One-third of the Tata Sons board consists of Tata Trust nominees. Noel Tata and Srinivasan are among them, and failure to secure Srinivasan’s reappointment on May 16 could have created challenges. Sir Ratan Tata Trust and Sir Dorabji Tata Trust together hold over 51 per cent in Tata Sons.
A complaint filed by advocate Katyayani Agarwal stated that three of the six trustees at Sir Ratan Tata Trust are permanent, which contravenes Section 30A(2) of the Maharashtra Public Trusts Act, 1950, now limiting permanent trustees to one-fourth. The complaint requested intervention from the Charity Commissioner and was limited to Sir Ratan Tata Trust.
Published on: May 25, 2026 9:44 AM IST
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