A dispute in the boardroom of Tata Trusts has shaken the Indian corporate world — and its tremors have reached Delhi.
Tata Trusts is the philanthropic body that controls 66% of Tata Sons — the holding company of Tata Group’s 26 listed companies with a combined market cap of $368 billion.
On Tuesday night, television channels in India broadcast footage of Noel Tata, the chairman of Tata Trusts, meeting with Home Minister Amit Shah at his residence.
Local media reports said Finance Minister Nirmala Sitharaman, Tata Sons Chairman N Chandrasekaran, and trustees Darius Khambatta and Venu Srinivasan were also present at the meeting.
While Tata Sons and Tata Trusts have not issued any official statement on what transpired at the minister’s residence, it is widely reported that a power struggle is brewing inside one of India’s most powerful business empires.
