Tata Sons Boardroom Rift Escalates as Listing Looms Amid Leadership Dispute
India’s Tata Sons faces a severe governance crisis after its board reappointed N Chandrasekaran as chairman, a move Tata Trusts, the 66% majority shareholder, declared illegal. The dispute centers on Chandrasekaran’s push for a public listing to fund capital-intensive ventures like Air India and semiconductors, versus the Trusts’ desire to maintain private control and charitable funding. With the Reserve Bank of India rejecting an exemption from mandatory listing rules, the group faces a potential 'mother of all IPOs' or a prolonged legal deadlock that could stall critical investments.