Tata Chemicals, Tata Investment Corp shares fall up to 3% as boardroom battle likely to reach court
The dispute between Tata Trusts and Tata Sons over N Chandrasekaran’s reappointment escalated, with the matter potentially heading to court. Tata Sons recently approved a fresh five-year extension for Chandrasekaran and began preparations for its IPO, triggering sharp moves in group stocks. However, shares fell on Friday after Tata Trusts chairman Noel Tata challenged the validity of the appointment, objecting to the manner in which the decision was taken.
Having worked closely with Ratan Tata earlier, being aware of his legacy and not only knowing personally all the principal actors on both sides in the current so called Tata dispute but also having deep, genuine and abiding respect for and excellent equations with all of them,…
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