- The TATA Group is in shambles!
- 'Chandrasekaran's appointment has not been proposed'
- Noel Tata Aggressive; Requested recording of board meetings
Tata Sons Board Conflict : The scam going on in the Tata Trusts is no longer hidden. The internal dispute has now come to a head. The controversy in Tata Trust has now taken a new turn. Noel Tata, Chairman of the Trust, held the N. Chandrasekaran's re-appointment as president has been questioned. So now this controversy has flared up again. He has raised the issue in a letter to the board of directors of Tata Sons. This information has been given by sources related to this matter. Let us know in detail what is actually happening in Tata Trust. (Tata Sons Board Conflict)
Petrol Diesel Price Hike : Big blow… petrol-diesel prices suddenly increased! Petrol is expensive by ₹5 and diesel by ₹3
According to reports, Noel Tata demanded video recording of the board meeting. He has also raised questions about the legal opinion taken and why exactly it was taken. In an email dated September 30, Noel said Chandrasekaran's reappointment was not on the agenda of the meeting, but the issue was raised under the 'Information from NRC' section. He had earlier denied that any resolution was passed in the September 17 board meeting.
Noel's vote against reappointment
Tata Trusts, the group's largest shareholder, termed the board's proposal to reappoint Chandrasekaran for a third term as “illegal” and “legally invalid”. A strongly worded statement from the trust said Noel, a nominee director on the board of Tata Sons, voted against the reappointment during the meeting.
The judge held that the resolution was properly passed
Tata Sons N. Former Chief Justice of India Uday Umesh Lalit and former Supreme Court judge B. N. Cited the legal views of Shri Krishna. According to reports, both judges deemed the resolution “properly approved”. Because the directors appointed under section 104(b) were divided by equal votes, a casting vote satisfied the requirements of section 121.
This is the main reason for the controversy
Tata Trusts argued that both the nominee directors were required to support the reappointment and in support of its stand former Chief Justice D. Y. Evidence of Chandrachud's opinion was given. Tata Sons' constitution, particularly the rules regarding the casting vote of nominee directors and chairman, was a major source of contention.
Tata Trusts' other director nominee, Venu Srinivasan, supported Chandrasekaran's reappointment, while Chandrasekaran himself stayed away from the process and independent director Harish Manwani chaired the discussions. The resolution was approved by the casting vote of the President.
UPI Payment Decline : MDR charges taken a blow? Reduction in UPI payments even before implementation! So what will happen from October 15?