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Four clauses in its Articles of Association could decide</h1><div class="psContent"><div class="psArticleInfo"><div class="authorDesc"><span></span> <a href="https://www.livemint.com/authors/dipali-banka" target="_blank"><strong>Dipali Banka</strong></a>, <a href="https://www.livemint.com/authors/nehal-chaliawala" target="_blank"><strong>Nehal Chaliawala</strong></a><div><span class="metaTime">5<!-- --> min read</span><span>24 Sep 2026, 12:32 PM IST</span></div></div></div><div class="psContent psMobileWrap"><div class="storyEmbed"><div class="leadVideo"><img src="https://www.livemint.com/lm-img/img/2026/09/24/600x338/2-0-656144453-Bombay-House03-20120918-HM-0_1680252210692_1790231696077_4xoD_5e64ea94-770d-4204-8e99-41717de69116_U5rr.jpg" alt="Video thumbnail" width="655" height="368" class="" fetchpriority="high" loading="eager"/></div></div><div class="leadVideoFigCaption"><figcaption>Tata Trusts collectively hold 65.9% of Tata Sons and have special governance rights under the company’s Articles of Association.<strong>(<!-- -->Mint<!-- -->)</strong></figcaption></div><div class="synopsis"><div class="titleSummary">Summary</div><span class="h2Summary">Tata Sons’ board and Tata Trusts are at odds over N. Chandrasekaran’s reappointment. Here’s what the company’s Articles of Association say about the Trusts’ powers and the chairman’s appointment.</span></div><div class="giftArticle_giftCTAPair__jG24R lm-gift-cta-pair"><button class="giftArticle_giftAnArticle__fwRWm" id="gift-an-article" style="background-color:#f69d1c;color:#000"><span class="giftArticle_giftIconWrap__SXRso"><div class="lazy-loaded"></div></span><span class="giftArticle_giftCtaText__bxcLA">Gift this article</span></button><button class="giftArticle_giftAnArticle__fwRWm" id="social_btn" style="background-color:#1A202C;color:#fff"><span class="giftArticle_giftCtaText__bxcLA">Check your portfolio</span></button></div><div class="giftArticle_doubleGiftBox__hZSni" id="gift_redeemed_box" style="display:none"><div class="giftArticle_leftText__jMDyN"><p>This is a Mint Premium article gifted to you.<br/>Subscribe to enjoy similar stories.</p><button class="giftArticle_btnStyleGift__sjRiv">Subscribe now</button></div><div class="giftArticle_myicon___PNLv"><img width="24" height="24" src="https://www.livemint.com/lm-img/subscription/images/gift_article/gery_gift_iconsmall.svg" alt=""/><img width="49" height="49" src="https://www.livemint.com/lm-img/subscription/images/gift_article/grey_gift_icon.svg" alt=""/></div></div><div class="premium-article-body contentSec subscription"><div class="mainArea" id="mainArea"><div class="FirstEle"><div id="article-index-0" class="storyParagraph"><p>
1On 17 September, Tata Sons’ board <a class="backlink" target="_blank" href="https://www.livemint.com/companies/news/tata-sons-board-meeting-noel-tata-11789917014343.html" data-vars-page-type="story" data-vars-link-type="Manual" data-vars-anchor-text="overruled the opposition">overruled the opposition</a> of its majority shareholder, Tata Trusts, to a third five-year term for chairman Natarajan Chandrasekaran, marking a rare episode in corporate India where a company’s board has opposed the view of its controlling shareholder.</p></div></div><div class="paywall-slot" id="article-index-1" data-slot="1"><div id="article-index-1" class="storyParagraph"><p>Tata Trusts has called the board’s decision <a class="backlink" target="_blank" href="https://www.livemint.com/companies/natarajan-chandrasekaran-tata-sons-chairman-noel-tata-trusts-tata-sons-ipo-listing-11789642339116.html" data-vars-page-type="story" data-vars-link-type="Manual" data-vars-anchor-text="illegal">illegal</a>, bringing the Articles of Association (AoA) of Tata Sons—the holding company of the Tata Group—under scrutiny. The two sides differ over how the provisions apply to the chairman’s reappointment. <i>Mint </i>breaks down what each side claims and what the Articles say.</p></div></div><div class="paywall eventPaywall mask" id="paywall_11790219259343"><div class="paywall-slot" id="article-index-2" data-slot="2"><div class="paywall mask" id="paywall_11790232003907"></div></div><div class="paywall-slot" id="article-index-3" data-slot="3"><div id="article-index-3" class="storyParagraph"><h3><strong>What are Tata Sons’ Articles of Association?</strong></h3><p>The Articles of Association (AoA) are a company’s legal rulebook, setting out rules on matters such as the powers of the board, appointment of directors, conduct of board meetings and decision-making and how the company should conduct its business. Both private and public companies have AoAs. Private companies, however, can have more customised governance arrangements between shareholders, subject to the Companies Act and other applicable laws.</p></div></div><div class="paywall-slot" id="article-index-4" data-slot="4"><div id="article-index-4" class="storyParagraph"><p>Tata Sons is unusual because its AoA contains specific provisions protecting the interests of Tata Trusts, the charitable organisations that collectively own 65.9% of the company. The Supreme Court examined these provisions in its 2021 judgment on the ouster of Cyrus Mistry as Tata Sons chairman in 2016 and upheld the Trusts’ special rights.</p></div></div><div class="paywall-slot" id="article-index-5" data-slot="5"><div id="article-index-5" class="storyParagraph"><h3><strong>What special powers do the Trusts have?</strong></h3><p>As long as Tata Trusts collectively hold at least 40% of Tata Sons’ shares, Article 104B of the company’s AoA gives the Sir Dorabji Tata Trust (SDTT) and the Sir Ratan Tata Trust (SRTT) the right to jointly nominate one-third of Tata Sons’ board of directors. They can also remove a director.</p></div></div><div class="paywall-slot" id="article-index-6" data-slot="6"><div id="article-index-6" class="storyParagraph"><p>SDTT and SRTT are the principal Tata Trusts, holding 27.98% and 23.56%, respectively, of Tata Sons. Presently, Tata Sons has six board members, of whom two are Trust nominees—<a class="backlink" target="_blank" href="https://www.livemint.com/companies/news/tata-sons-chairman-natarajan-chandrasekaran-reappointment-legal-11789891114906.html" data-vars-page-type="story" data-vars-link-type="Manual" data-vars-anchor-text="Noel Tata">Noel Tata</a> and <a class="backlink" target="_blank" href="https://www.livemint.com/companies/news/tat-sons-chandrasekaran-family-tvs-link-went-undisclosed-venu-srinivasan-judged-his-term-11790084628035.html" data-vars-page-type="story" data-vars-link-type="Manual" data-vars-anchor-text="Venu Srinivasan">Venu Srinivasan</a>.</p></div></div><div class="paywall-slot" id="article-index-7" data-slot="7"><div id="article-index-7" class="storyParagraph"><p>Further, Article 115 says a Tata Sons board meeting will not have the necessary quorum if a majority of the Tata Trusts’ nominees appointed under Article 104B are not present. Article 121 says the board cannot decide any matter tabled before it without the affirmative vote of a majority of such nominee directors.</p></div></div><div class="paywall-slot" id="article-index-8" data-slot="8"><div id="article-index-8" class="storyParagraph"><p>The AoA also sets out special rules for appointing the chairman of Tata Sons. As long as the Trusts hold a 40% stake in aggregate, a selection committee must be formed comprising three persons jointly nominated by SDTT and SRTT, one person nominated by the Tata S
1ons board from among its members, and one independent member, also nominated by the board. Any decision by this committee is also subject to the approval of a majority of the three Trust nominees, as per Article 121.</p></div></div><div class="paywall-slot" id="article-index-9" data-slot="9"><div id="article-index-9" class="alsoRead"><strong>Also Read</strong> <!-- -->|<!-- --> <a href="/companies/news/tata-sons-board-meeting-noel-tata-11789917014343.html">How five Tata Sons directors outflanked Noel Tata</a></div></div><div class="paywall-slot" id="article-index-10" data-slot="10"><div id="article-index-10" class="storyParagraph"><h3><strong>What is Tata Trusts’ argument?</strong></h3><p>Trust argues that the 4-1 board vote on 17 September approving Chandrasekaran’s reappointment as chairperson for a third five-year term was invalid. Chandrasekaran excused himself from the vote, while Noel Tata voted against it. The other four directors, including Srinivasan, voted in favour.</p></div></div><div class="paywall-slot" id="article-index-11" data-slot="11"><div id="article-index-11" class="storyParagraph"><p>The Trusts’ argument has two parts. First, a chairperson can be reappointed only when a majority of the Trusts’ representatives on the Tata Sons board vote in favour, as prescribed under Article 121. Since <a class="backlink" target="_blank" href="https://www.livemint.com/opinion/online-views/mint-quick-edit-tata-turbulence-why-venu-srinivasan-s-role-is-in-india-s-spotlight-11789907482709.html" data-vars-page-type="story" data-vars-link-type="Manual" data-vars-anchor-text="Srinivasan voted in favour and Noel Tata opposed">Srinivasan voted in favour and Noel Tata opposed</a>, there was no majority, the Trusts argue. The resolution was therefore invalid.</p></div></div><div class="paywall-slot" id="article-index-12" data-slot="12"><div id="article-index-12" class="storyParagraph"><p>Second, Tata Trusts says Chandrasekaran’s reappointment did not follow Article 118 of the AoA, which requires a five-member selection committee. Chandrasekaran’s reappointment in 2022 for a second five-year term followed this route, the Trusts claim, setting a precedent that should be followed.</p></div></div><div class="paywall-slot" id="article-index-13" data-slot="13"><div id="article-index-13" class="storyParagraph"><p>“Now, it fortunately doesn't require rocket science to decide that the majority of two is two, because the majority of two has to be more than one, and that is only two. Now, therefore, two have to decide in this case to go this way or that way jointly. The moment one of the two says no…there is no majority as per Article 121. The matter ends there,” senior Supreme Court advocate <a class="backlink" target="_blank" href="https://www.livemint.com/news/india/who-is-abhishek-manu-singhvi-the-lawyer-who-fought-for-tata-sons-against-mistry-is-now-fighting-against-it-11789970092458.html" data-vars-page-type="story" data-vars-link-type="Manual" data-vars-anchor-text="Abhishek Manu Singhvi">Abhishek Manu Singhvi</a>, who is counselling Tata Trusts, said in an interview to <i>CNN-News18</i> on Tuesday.</p></div></div><div class="paywall-slot" id="article-index-14" data-slot="14"><div id="article-index-14" class="alsoRead"><strong>Also Read</strong> <!-- -->|<!-- --> <a href="/opinion/online-views/tata-model-is-one-of-indias-unique-contributions-to-capitalism-why-it-mustn-t-get-undone-11789906191826.html">Ajit Ranade: Why the Tata Group’s inheritance is worth preserving</a></div></div><div class="paywall-slot" id="article-index-15" data-slot="15"><div id="article-index-15" class="storyParagraph"><h3><strong>What is Tata Sons’ argument?</strong></h3><p>Tata Sons’ position rests on a different interpretation of the same provisions. First, the company points to a provision under Article 121 that provides for a chairman’s casting vote when the Trust nominees are split, as they were on 17 September.</p></div></div><div class="paywall-slot" id="article-index-16" data-slot="16"><div id="article-index-16" class="storyParagraph"><p>Harish Manwani, an independent director on the board and chair of Tata Sons’ nomination and remuneration committee, cast the deciding vote in favour of Chandrasekaran. Tata Sons argues that this was permitted under the company’s AoA. The company obtained this view from Kolkata-based veteran lawyer <a class="backlink" target="_blank" href="https://www.livemint.com/companies/news/tata-sons-chairman-reappointment-legal-dispute-sudipto-sarkar-dy-chandrachud-11789896528257.html" data-vars-page-type="story" data-vars-link-type="Manual" data-vars-anchor-text="Sudipto Sarkar">Sudipto Sarkar</a>.</p></div></div><div class="paywall-slot" id="article-index-17" data-slot="17"><div id="article-index-17" class="storyParagraph"><p>Second, Tata Sons says Article 118 applies to the appointment of a “new chairman”, not the reappointment of an existing one. Since Chandrasekaran was already chairman, the company argues that the selection committee mechanism was unnecessary and that his reappointment could instead be approved by board resolution.</p></div></div><div class="paywall-slot" id="article-index-18" data-slot="18"><div id="article-index-18" class="storyParagraph"><p>Importantly, Tata Sons also contests Noel Tata’s claim that Article 121, rather than Article 118, was followed in Chandrasekaran’s 2022 reappointment.</p></div></div><div class="paywall-slot" id="article-index-19" data-slot="19"><div id="article-index-19" class="storyParagraph"><p><i>Mint</i>
1 could not independently verify which article was relied upon when Chandrasekaran was reappointed in 2022.</p></div></div><div class="paywall-slot" id="article-index-20" data-slot="20"><div id="article-index-20" class="alsoRead"><strong>Also Read</strong> <!-- -->|<!-- --> <a href="/companies/news/tata-sons-board-meeting-ipo-listing-chairman-natarajan-chandrasekaran-tata-trusts-noel-tata-11789804829713.html">Inside the 24 hours that laid bare Tata’s brutal power struggle</a></div></div></div></div></div><div class="paywallHiddenContent"><div class="giftArticle_giftCTAPair__jG24R lm-gift-cta-pair"><button class="giftArticle_giftAnArticle__fwRWm" id="gift-an-article" style="background-color:#f69d1c;color:#000"><span class="giftArticle_giftIconWrap__SXRso"><div class="lazy-loaded"></div></span><span class="giftArticle_giftCtaText__bxcLA">Gift this article</span></button><button class="giftArticle_giftAnArticle__fwRWm" id="social_btn" style="background-color:#1A202C;color:#fff"><span class="giftArticle_giftCtaText__bxcLA">Check your portfolio</span></button></div><div class="premiumStoryAuthor"><div class="jsx-1b25593f38d19b66 abtAuthor"><h3 class="jsx-1b25593f38d19b66">About the Authors</h3><div class="jsx-1b25593f38d19b66 abtAuthorWrap"><div class="jsx-1b25593f38d19b66 abtAuthorSlideItem"><a href="https://www.livemint.com/authors/dipali-banka" class="jsx-1b25593f38d19b66 story-author"><span class="jsx-1b25593f38d19b66 story-author-img"><div class="lazy-loaded"></div></span><div class="jsx-1b25593f38d19b66 story-author-info"><span class="jsx-1b25593f38d19b66 story-author-name">Dipali Banka</span></div></a><p class="jsx-1b25593f38d19b66 abtAuthorInfo">Dipali Banka is a Mumbai-based journalist who treats corporate reporting less like a beat and more like a puzzle to be solved. This invariably means she has to read through annual reports and speak with leaders and analysts. She tracks policies, deals, and the pulse of industries spanning metals, mining, paints, and cement, alongside aviation. She started out as an intern at The Statesman and then completed her postgraduate diploma in journalism from Asian College of Journ
1alism, Chennai, in 2025. Relentlessly curious at heart, Dipali is driven by the simple urge to understand how things work and who they impact. Armed with an enduring fascination for steel and aeroplanes, she moves through the churn of daily news with focus, turning complexity into clarity without losing the story. She is particularly committed to shaping numbers into objective narratives, having little appetite for vagueness that gets in her way.&lt;br&gt;&lt;br&gt;Outside the newsroom, Dipali is an unapologetically loud presence who values long conversations and longer walks to unwind. She devours books of all kinds and can often be found indulging in the lyrical sway of contemporary ghazals. She ardently believes that her relationship with her bylines is more sacred than it would ever be with anyone across the human race.</p></div><div class="jsx-1b25593f38d19b66 abtAuthorSlideItem"><a href="https://www.livemint.com/authors/nehal-chaliawala" class="jsx-1b25593f38d19b66 story-author"><span class="jsx-1b25593f38d19b66 story-author-img"><div class="lazy-loaded"></div></span><div class="jsx-1b25593f38d19b66 story-author-info"><span class="jsx-1b25593f38d19b66 story-author-name">Nehal Chaliawala</span></div></a><p class="jsx-1b25593f38d19b66 abtAuthorInfo">Nehal chronicles India’s top conglomerates for Mint. From navigating the complexities of big-bang mergers and large-scale fundraises to decoding high-profile recruitments and seemingly inexplicable corporate pivots, Nehal focuses on unpacking the long-term strategies of the country’s most influential business houses. He aims to provide readers with a clear-eyed view of how these corporate titans shape the broader Indian economy.&lt;br&gt;&lt;br&gt;His professional journey began at The Economic Times in 2018, where he spent over five years before joining Mint in 2023. Over his career, he has tracked diverse sectors like automobiles, metals, cement, power, infrastructure, and renewable energy. He also keeps a close watch on the intricacies of corporate finance and corporate governance. This wide-ranging sectoral experience allows him to better understand India’s large conglomerates that sit at the confluence of these vital industries.&lt;br&gt;&lt;br&gt;Nehal studied mechanical engineering from the Pune University and graduated with distinction in 2017. Driven by a passion for storytelling, he pivoted to journalism immediately after, attending the Asian College of Journ
1alism in Chennai. While his time in the newsroom has made him a healthy sceptic, his engineering roots keep him perpetually inquisitive about how things work—and why they fail.&lt;br&gt;&lt;br&gt;He actively encourages readers to reach out for feedback, collaboration, or news tips. Nehal can be reached via LinkedIn or directly at [email protected].</p></div></div></div></div><div class="seoTxtContainer   "><div class="seoTxt seoText" id="seoText"><p>Catch all the <a href="https://www.livemint.com/" target="_blank">Business News </a>, <a href="https://www.livemint.com/companies" target="_blank"> Corporate news </a>, <a href="https://www.livemint.com/news" target="_blank">Breaking News </a>Events and <a href="https://www.livemint.com/latest-news" target="_blank">Latest News </a> Updates on Live Mint. Download The <a href="https://www.livemint.com/apps" target="_blank">Mint News App </a> to get Daily Market Updates.</p><span class="more">More</span></div></div><div class="pTopic_premiumTopic__cV8bu"><h2>Topics</h2><ul class="pTopic_topicLists__ouHON"><li class="pTopic_topicItem__IvP5q"><a href="https://www.livemint.com/topic/tata-sons">#<!-- -->Tata sons</a></li></ul></div></div></div></div></article></section> </div><div class="rightPanel"></div></div>
1<script type="application/ld+json">{"@context":"https://schema.org","@type":"NewsArticle","mainEntityOfPage":{"@type":"WebPage","@id":"https://www.livemint.com/companies/news/tata-sons-chandrasekaran-reappointment-tata-trusts-articles-of-association-11790219259343.html","speakable":{"@type":"SpeakableSpecification","cssSelector":[".mainSec h1",".h2Summary"]}},"inLanguage":"en","headline":"Who runs Tata Sons? Four clauses in its Articles of Association could decide","wordCount":1168,"description":"Tata Sons’ board and Tata Trusts are at odds over N. Chandrasekaran’s reappointment. Here’s what the company’s Articles of Association say about the Trusts’ powers and the chairman’s appointment.","url":"https://www.livemint.com/companies/news/tata-sons-chandrasekaran-reappointment-tata-trusts-articles-of-association-11790219259343.html","datePublished":"2026-09-24T12:09:46+05:30","dateModified":"2026-09-24T12:32:33+05:30","alternativeHeadline":"Who runs Tata Sons? Four clauses in its Articles of Association could decide","articleBody":"On 17 September, Tata Sons’ board overruled the opposition of its majority shareholder, Tata Trusts, to a third five-year term for chairman Natarajan Chandrasekaran, marking a rare episode in corporate India where a company’s board has opposed the view of its controlling shareholder.","author":{"@type":"Person","name":"Dipali Banka, Nehal Chaliawala","url":"https://www.livemint.com/authors/dipali-banka, https://www.livemint.com/authors/nehal-chaliawala"},"publisher":{"@type":"NewsMediaOrganization","name":"mint","url":"https://www.livemint.com","logo":{"@type":"ImageObject","url":"https://www.livemint.com/lm-img/newschemalogo.png","width":600,"height":60}},"image":{"@type":"ImageObject","url":"https://www.livemint.com/lm-img/img/2026/09/24/1600x900/logo/2-0-656144453-Bombay-House03-20120918-HM-0_1680252210692_1790231696077_4xoD_5e64ea94-770d-4204-8e99-41717de69116_U5rr.jpg","height":900,"width":1600},"keywords":["Tata Sons","Tata Trusts","N Chandrasekaran","Tata Sons chairman","Noel Tata","Tata Sons board","Venu Srinivasan","Harish Manwani","Anita George","The Tata Tussl","The Tata Tussle"],"isAccessibleForFree":"False","hasPart":{"@type":"WebPageElement","isAccessibleForFree":"False","cssSelector":".paywall","value":"Tata Trusts has called the board’s decision illegal, bringing the Articles of Association (AoA) of Tata Sons—the holding company of the Tata Group—under scrutiny. The two sides differ over how the provisions apply to the chairman’s reappointment. Mint breaks down what each side claims and what the Articles say.What are Tata Sons’ Articles of Association?The Articles of Association (AoA) are a company’s legal rulebook, setting out rules on matters such as the powers of the board, appointment of directors, conduct of board meetings and decision-making and how the company should conduct its business. Both private and public companies have AoAs. Private companies, however, can have more customised governance arrangements between shareholders, subject to the Companies Act and other applicable laws.Tata Sons is unusual because its AoA contains specific provisions protecting the interests of Tata Trusts, the charitable organisations that collectively own 65.9% of the company. The Supreme Court examined these provisions in its 2021 judgment on the ouster of Cyrus Mistry as Tata Sons chairman in 2016 and upheld the Trusts’ special rights.What special powers do the Trusts have?As long as Tata Trusts collectively hold at least 40% of Tata Sons’ shares, Article 104B of the company’s AoA gives the Sir Dorabji Tata Trust (SDTT) and the Sir Ratan Tata Trust (SRTT) the right to jointly nominate one-third of Tata Sons’ board of directors. They can also remove a director.SDTT and SRTT are the principal Tata Trusts, holding 27.98% and 23.56%, respectively, of Tata Sons. Presently, Tata Sons has six board members, of whom two are Trust nominees—Noel Tata and Venu Srinivasan.Further, Article 115 says a Tata Sons board meeting will not have the necessary quorum if a majority of the Tata Trusts’ nominees appointed under Article 104B are not present. Article 121 says the board cannot decide any matter tabled before it without the affirmative vote of a majority of such nominee directors.The AoA also sets out special rules for appointing the chairman of Tata Sons. As long as the Trusts hold a 40% stake in aggregate, a selection committee must be formed comprising three persons jointly nominated by SDTT and SRTT, one person nominated by the Tata S
1ons board from among its members, and one independent member, also nominated by the board. Any decision by this committee is also subject to the approval of a majority of the three Trust nominees, as per Article 121.What is Tata Trusts’ argument?Trust argues that the 4-1 board vote on 17 September approving Chandrasekaran’s reappointment as chairperson for a third five-year term was invalid. Chandrasekaran excused himself from the vote, while Noel Tata voted against it. The other four directors, including Srinivasan, voted in favour.The Trusts’ argument has two parts. First, a chairperson can be reappointed only when a majority of the Trusts’ representatives on the Tata Sons board vote in favour, as prescribed under Article 121. Since Srinivasan voted in favour and Noel Tata opposed, there was no majority, the Trusts argue. The resolution was therefore invalid.Second, Tata Trusts says Chandrasekaran’s reappointment did not follow Article 118 of the AoA, which requires a five-member selection committee. Chandrasekaran’s reappointment in 2022 for a second five-year term followed this route, the Trusts claim, setting a precedent that should be followed.“Now, it fortunately doesn't require rocket science to decide that the majority of two is two, because the majority of two has to be more than one, and that is only two. Now, therefore, two have to decide in this case to go this way or that way jointly. The moment one of the two says no…there is no majority as per Article 121. The matter ends there,” senior Supreme Court advocate Abhishek Manu Singhvi, who is counselling Tata Trusts, said in an interview to CNN-News18 on Tuesday.What is Tata Sons’ argument?Tata Sons’ position rests on a different interpretation of the same provisions. First, the company points to a provision under Article 121 that provides for a chairman’s casting vote when the Trust nominees are split, as they were on 17 September.Harish Manwani, an independent director on the board and chair of Tata Sons’ nomination and remuneration committee, cast the deciding vote in favour of Chandrasekaran. Tata Sons argues that this was permitted under the company’s AoA. The company obtained this view from Kolkata-based veteran lawyer Sudipto Sarkar.Second, Tata Sons says Article 118 applies to the appointment of a “new chairman”, not the reappointment of an existing one. Since Chandrasekaran was already chairman, the company argues that the selection committee mechanism was unnecessary and that his reappointment could instead be approved by board resolution.Importantly, Tata Sons also contests Noel Tata’s claim that Article 121, rather than Article 118, was followed in Chandrasekaran’s 2022 reappointment.Mint could not independently verify which article was relied upon when Chandrasekaran was reappointed in 2022."},"isPartOf":{"@type":["CreativeWork","Product"],"name":"mint","productID":"livemint.com:premium"}}</script>
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1<script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"pageName":"story","pageType":"premstory","templateType":"premstory","sectionName":"Companies","subSectionName":"News","pageUrl":"/story","storyDetails":{"id":11790219259343,"oldUuid":"","domainId":"5aeab8eefc36f218b0e0866b","mgOldUuid":null,"title":"Who runs Tata Sons? Four clauses in its Articles of Association could decide","articleType":"story","createdBy":"Dipali Banka","firstPublishedDate":"2026-09-24T06:39:46+0000","lastPublishedDate":"2026-09-24T07:02:33+0000","lastModifiedDate":"2026-09-24T07:40:15+0000","metadata":{"url":"/companies/news/tata-sons-chandrasekaran-reappointment-tata-trusts-articles-of-association-11790219259343.html","authors":["Dipali Banka","Nehal Chaliawala"],"agency":"","status":"PUBLISHED","tags":[],"keywords":["Tata Sons","Tata Trusts","N Chandrasekaran","Tata Sons chairman","Noel Tata","Tata Sons board","Venu Srinivasan","Harish Manwani","Anita George","The Tata Tussl","The Tata Tussle"],"section":"Companies","column":"","subSection":"News","topic":["Tata sons"],"topicUrls":["/topic/tata-sons"],"alternateSection":[],"location":[],"markUnimportant":false,"breakingNews":false,"sponsored":false,"editedBy":[],"writtenBy":[],"reportedBy":[],"agencyByLine":[],"bigStory":false,"redirectUrl":"","dynamicMeta":null,"alternateUrls":[],"externalUrl":"","subSectionL2":"","canonicalUrl":"https://www.livemint.com/companies/news/tata-sons-chandrasekaran-reappointment-tata-trusts-articles-of-association-11790219259343.html","killed":false,"audioSourceUrl":"https://s3.ap-south-1.amazonaws.com/htcms-prod-images/mint/mp3/11790219259343.mp3","disclaimer":"","sponsoredTitle":"","storyType":"PRINT","syndicationFeed":false,"premiumStory":true,"premiumSubBrand":"News","metaTitle":"Who runs Tata Sons? Four clauses in its Articles of Association could decide","metaDescription":"Tata Sons’ board and Tata Trusts are at odds over N. Chandrasekaran’s reappointment. Here’s what the company’s Articles of Association say about the Trusts’ powers and the chairman’s appointment.","handpicked":false,"audienceTags":null,"autoBackLinked":true,"aiContent":false,"aiContentType":"","removeAds":false,"contextualKeyword":"DematInvestmentKey,Investmentkey,BfsiAxisMuCapFund,bfsi_ai,BFSI_Stocks_ai,investment_ai,entrepreneur1_ai","embedAmazonCount":0,"embedCromaCount":0,"embedFlipkartCount":0,"embedSnapdealCount":0,"embedFlipkart25Count":0,"embedD2CBrandsCount":0,"tableOfContentsHeading":[],"performanceArticleType":null,"prContextualKeywords":"plc1,pfpl0804,stoxokey,AutoKeywords,DematInvestmentKey,Investmentkey,BfsiAxisMuCapFund,bfsi_ai,BFSI_Stocks_ai,investment_ai,entrepreneur1_ai","sectionId":1544079234425,"subSectionId":1544684604185,"typeOfFormat":"","crawledWidgetType":"","crawledWidgetData":null,"selectedStream":null,"productWidgetData":null,"collapseArticle":false,"removeTimestamp":false,"disclaimerMap":[],"authorsList":[{"id":11747734473338,"name":"Dipali Banka","slugName":null,"userTypes":null,"twitter":"https://x.com/DipaliBanka","image":"https://www.livemint.com/lm-img/img/2025/07/08/original/Dipali_Banka_1751970355621.jpg","email":"[email protected]","bio":"Dipali Banka is a Mumbai-based journalist who treats corporate reporting less like a beat and more like a puzzle to be solved. This invariably means she has to read through annual reports and speak with leaders and analysts. She tracks policies, deals, and the pulse of industries spanning metals, mining, paints, and cement, alongside aviation. She started out as an intern at The Statesman and then completed her postgraduate diploma in journalism from Asian College of Journ
1alism, Chennai, in 2025. Relentlessly curious at heart, Dipali is driven by the simple urge to understand how things work and who they impact. Armed with an enduring fascination for steel and aeroplanes, she moves through the churn of daily news with focus, turning complexity into clarity without losing the story. She is particularly committed to shaping numbers into objective narratives, having little appetite for vagueness that gets in her way.\u003cbr\u003e\u003cbr\u003eOutside the newsroom, Dipali is an unapologetically loud presence who values long conversations and longer walks to unwind. She devours books of all kinds and can often be found indulging in the lyrical sway of contemporary ghazals. She ardently believes that her relationship with her bylines is more sacred than it would ever be with anyone across the human race.","specializationList":[]},{"id":11702606250919,"name":"Nehal Chaliawala","slugName":null,"userTypes":null,"twitter":"https://x.com/NehalChaliawala","image":"https://www.livemint.com/lm-img/img/2026/03/30/500x500/Nehal_professional_1774905597216_1774905600687.png","email":"[email protected]","bio":"Nehal chronicles India’s top conglomerates for Mint. From navigating the complexities of big-bang mergers and large-scale fundraises to decoding high-profile recruitments and seemingly inexplicable corporate pivots, Nehal focuses on unpacking the long-term strategies of the country’s most influential business houses. He aims to provide readers with a clear-eyed view of how these corporate titans shape the broader Indian economy.\u003cbr\u003e\u003cbr\u003eHis professional journey began at The Economic Times in 2018, where he spent over five years before joining Mint in 2023. Over his career, he has tracked diverse sectors like automobiles, metals, cement, power, infrastructure, and renewable energy. He also keeps a close watch on the intricacies of corporate finance and corporate governance. This wide-ranging sectoral experience allows him to better understand India’s large conglomerates that sit at the confluence of these vital industries.\u003cbr\u003e\u003cbr\u003eNehal studied mechanical engineering from the Pune University and graduated with distinction in 2017. Driven by a passion for storytelling, he pivoted to journalism immediately after, attending the Asian College of Journ
1alism in Chennai. While his time in the newsroom has made him a healthy sceptic, his engineering roots keep him perpetually inquisitive about how things work—and why they fail.\u003cbr\u003e\u003cbr\u003eHe actively encourages readers to reach out for feedback, collaboration, or news tips. Nehal can be reached via LinkedIn or directly at [email protected].","specializationList":[]}],"disableEcho":false,"disableEchoPoweredPopup":false,"disableMidArticleEchoWidget":false,"iabTagging":"80","adKeywordsList":[],"premiumStoryWeb":true,"premiumStoryApp":false,"wallOfWeb":"Paywall","wordCount":1168,"paywallQuiz":true},"isDeleted":0,"expiryDate":null,"listRelatedStories":null,"type":"story","relatedStories":null,"elementCount":9,"listElement":[{"id":11790231815196,"articleType":"element","name":"paragraph","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:40:03+0000","paragraph":{"body":"\u003cp\u003eOn 17 September, Tata Sons’ board \u003ca class=\"backlink\" target=\"_blank\" href=\"https://www.livemint.com/companies/news/tata-sons-board-meeting-noel-tata-11789917014343.html\" data-vars-page-type=\"story\" data-vars-link-type=\"Manual\" data-vars-anchor-text=\"overruled the opposition\"\u003eoverruled the opposition\u003c/a\u003e of its majority shareholder, Tata Trusts, to a third five-year term for chairman Natarajan Chandrasekaran, marking a rare episode in corporate India where a company’s board has opposed the view of its controlling shareholder.\u003c/p\u003e"},"bgParaColor":{"name":"","code":""},"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790231815196,"articleType":"element","name":"paragraph","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:40:03+0000","paragraph":{"body":"\u003cp\u003eTata Trusts has called the board’s decision \u003ca class=\"backlink\" target=\"_blank\" href=\"https://www.livemint.com/companies/natarajan-chandrasekaran-tata-sons-chairman-noel-tata-trusts-tata-sons-ipo-listing-11789642339116.html\" data-vars-page-type=\"story\" data-vars-link-type=\"Manual\" data-vars-anchor-text=\"illegal\"\u003eillegal\u003c/a\u003e, bringing the Articles of Association (AoA) of Tata Sons—the holding company of the Tata Group—under scrutiny. The two sides differ over how the provisions apply to the chairman’s reappointment. \u003ci\u003eMint \u003c/i\u003ebreaks down what each side claims and what the Articles say.\u003c/p\u003e"},"bgParaColor":{"name":"","code":""},"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790232003907,"articleType":"element","name":"","title":"","type":"paywall","subType":"","paywallElement":true,"firstPublishedDate":"2026-09-24T06:40:04+0000"},{"id":11790232003962,"articleType":"element","name":"","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:40:18+0000","paragraph":{"body":"\u003ch3\u003e\u003cstrong\u003eWhat are Tata Sons’ Articles of Association?\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003eThe Articles of Association (AoA) are a company’s legal rulebook, setting out rules on matters such as the powers of the board, appointment of directors, conduct of board meetings and decision-making and how the company should conduct its business. Both private and public companies have AoAs. Private companies, however, can have more customised governance arrangements between shareholders, subject to the Companies Act and other applicable laws.\u003c/p\u003e"},"bgParaColor":null,"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790232003962,"articleType":"element","name":"","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:40:18+0000","paragraph":{"body":"\u003cp\u003eTata Sons is unusual because its AoA contains specific provisions protecting the interests of Tata Trusts, the charitable organisations that collectively own 65.9% of the company. The Supreme Court examined these provisions in its 2021 judgment on the ouster of Cyrus Mistry as Tata Sons chairman in 2016 and upheld the Trusts’ special rights.\u003c/p\u003e"},"bgParaColor":null,"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790232003964,"articleType":"element","name":"","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:40:18+0000","paragraph":{"body":"\u003ch3\u003e\u003cstrong\u003eWhat special powers do the Trusts have?\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003eAs long as Tata Trusts collectively hold at least 40% of Tata Sons’ shares, Article 104B of the company’s AoA gives the Sir Dorabji Tata Trust (SDTT) and the Sir Ratan Tata Trust (SRTT) the right to jointly nominate one-third of Tata Sons’ board of directors. They can also remove a director.\u003c/p\u003e"},"bgParaColor":null,"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790232003964,"articleType":"element","name":"","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:40:18+0000","paragraph":{"body":"\u003cp\u003eSDTT and SRTT are the principal Tata Trusts, holding 27.98% and 23.56%, respectively, of Tata Sons. Presently, Tata Sons has six board members, of whom two are Trust nominees—\u003ca class=\"backlink\" target=\"_blank\" href=\"https://www.livemint.com/companies/news/tata-sons-chairman-natarajan-chandrasekaran-reappointment-legal-11789891114906.html\" data-vars-page-type=\"story\" data-vars-link-type=\"Manual\" data-vars-anchor-text=\"Noel Tata\"\u003eNoel Tata\u003c/a\u003e and \u003ca class=\"backlink\" target=\"_blank\" href=\"https://www.livemint.com/companies/news/tat-sons-chandrasekaran-family-tvs-link-went-undisclosed-venu-srinivasan-judged-his-term-11790084628035.html\" data-vars-page-type=\"story\" data-vars-link-type=\"Manual\" data-vars-anchor-text=\"Venu Srinivasan\"\u003eVenu Srinivasan\u003c/a\u003e.\u003c/p\u003e"},"bgParaColor":null,"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790232003964,"articleType":"element","name":"","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:40:18+0000","paragraph":{"body":"\u003cp\u003eFurther, Article 115 says a Tata Sons board meeting will not have the necessary quorum if a majority of the Tata Trusts’ nominees appointed under Article 104B are not present. Article 121 says the board cannot decide any matter tabled before it without the affirmative vote of a majority of such nominee directors.\u003c/p\u003e"},"bgParaColor":null,"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790232003964,"articleType":"element","name":"","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:40:18+0000","paragraph":{"body":"\u003cp\u003eThe AoA also sets out special rules for appointing the chairman of Tata Sons. As long as the Trusts hold a 40% stake in aggregate, a selection committee must be formed comprising three persons jointly nominated by SDTT and SRTT, one person nominated by the Tata S
1ons board from among its members, and one independent member, also nominated by the board. Any decision by this committee is also subject to the approval of a majority of the three Trust nominees, as per Article 121.\u003c/p\u003e"},"bgParaColor":null,"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790231814942,"articleType":"element","name":"","title":"","type":"alsoread","subType":"","paywallElement":false,"firstPublishedDate":"2026-09-24T06:39:50+0000","alsoReadStories":{"11789917014343":"How five Tata Sons directors outflanked Noel Tata"},"alsoReadStoryIdList":[11789917014343],"alsoReadStoriesUrl":{"11789917014343":"/companies/news/tata-sons-board-meeting-noel-tata-11789917014343.html"}},{"id":11790231864894,"articleType":"element","name":"paragraph","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:39:50+0000","paragraph":{"body":"\u003ch3\u003e\u003cstrong\u003eWhat is Tata Trusts’ argument?\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003eTrust argues that the 4-1 board vote on 17 September approving Chandrasekaran’s reappointment as chairperson for a third five-year term was invali
1d. Chandrasekaran excused himself from the vote, while Noel Tata voted against it. The other four directors, including Srinivasan, voted in favour.\u003c/p\u003e"},"bgParaColor":{"name":"","code":""},"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790231864894,"articleType":"element","name":"paragraph","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:39:50+0000","paragraph":{"body":"\u003cp\u003eThe Trusts’ argument has two parts. First, a chairperson can be reappointed only when a majority of the Trusts’ representatives on the Tata Sons board vote in favour, as prescribed under Article 121. Since \u003ca class=\"backlink\" target=\"_blank\" href=\"https://www.livemint.com/opinion/online-views/mint-quick-edit-tata-turbulence-why-venu-srinivasan-s-role-is-in-india-s-spotlight-11789907482709.html\" data-vars-page-type=\"story\" data-vars-link-type=\"Manual\" data-vars-anchor-text=\"Srinivasan voted in favour and Noel Tata opposed\"\u003eSrinivasan voted in favour and Noel Tata opposed\u003c/a\u003e, there was no majority, the Trusts argue. The resolution was therefore invalid.\u003c/p\u003e"},"bgParaColor":{"name":"","code":""},"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790231864894,"articleType":"element","name":"paragraph","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:39:50+0000","paragraph":{"body":"\u003cp\u003eSecond, Tata Trusts says Chandrasekaran’s reappointment did not follow Article 118 of the AoA, which requires a five-member selection committee. Chandrasekaran’s reappointment in 2022 for a second five-year term followed this route, the Trusts claim, setting a precedent that should be followed.\u003c/p\u003e"},"bgParaColor":{"name":"","code":""},"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790231864894,"articleType":"element","name":"paragraph","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:39:50+0000","paragraph":{"body":"\u003cp\u003e“Now, it fortunately doesn't require rocket science to decide that the majority of two is two, because the majority of two has to be more than one, and that is only two. Now, therefore, two have to decide in this case to go this way or that way jointly. The moment one of the two says no…there is no majority as per Article 121. The matter ends there,” senior Supreme Court advocate \u003ca class=\"backlink\" target=\"_blank\" href=\"https://www.livemint.com/news/india/who-is-abhishek-manu-singhvi-the-lawyer-who-fought-for-tata-sons-against-mistry-is-now-fighting-against-it-11789970092458.html\" data-vars-page-type=\"story\" data-vars-link-type=\"Manual\" data-vars-anchor-text=\"Abhishek Manu Singhvi\"\u003eAbhishek Manu Singhvi\u003c/a\u003e, who is counselling Tata Trusts, said in an interview to \u003ci\u003eCNN-News18\u003c/i\u003e on Tuesday.\u003c/p\u003e"},"bgParaColor":{"name":"","code":""},"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790231864362,"articleType":"element","name":"","title":"","type":"alsoread","subType":"","paywallElement":false,"firstPublishedDate":"2026-09-24T06:39:50+0000","alsoReadStories":{"11789906191826":"Ajit Ranade: Why the Tata Group’s inheritance is worth preserving"},"alsoReadStoryIdList":[11789906191826],"alsoReadStoriesUrl":{"11789906191826":"/opinion/online-views/tata-model-is-one-of-indias-unique-contributions-to-capitalism-why-it-mustn-t-get-undone-11789906191826.html"}},{"id":11790219267686,"articleType":"element","name":"paragraph","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:39:50+0000","paragraph":{"body":"\u003ch3\u003e\u003cstrong\u003eWhat is Tata Sons’ argument?\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003eTata S
1ons’ position rests on a different interpretation of the same provisions. First, the company points to a provision under Article 121 that provides for a chairman’s casting vote when the Trust nominees are split, as they were on 17 September.\u003c/p\u003e"},"bgParaColor":{"name":"","code":""},"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790219267686,"articleType":"element","name":"paragraph","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:39:50+0000","paragraph":{"body":"\u003cp\u003eHarish Manwani, an independent director on the board and chair of Tata Sons’ nomination and remuneration committee, cast the deciding vote in favour of Chandrasekaran. Tata Sons argues that this was permitted under the company’s AoA. The company obtained this view from Kolkata-based veteran lawyer \u003ca class=\"backlink\" target=\"_blank\" href=\"https://www.livemint.com/companies/news/tata-sons-chairman-reappointment-legal-dispute-sudipto-sarkar-dy-chandrachud-11789896528257.html\" data-vars-page-type=\"story\" data-vars-link-type=\"Manual\" data-vars-anchor-text=\"Sudipto Sarkar\"\u003eSudipto Sarkar\u003c/a\u003e.\u003c/p\u003e"},"bgParaColor":{"name":"","code":""},"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790219267686,"articleType":"element","name":"paragraph","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:39:50+0000","paragraph":{"body":"\u003cp\u003eSecond, Tata Sons says Article 118 applies to the appointment of a “new chairman”, not the reappointment of an existing one. Since Chandrasekaran was already chairman, the company argues that the selection committee mechanism was unnecessary and that his reappointment could instead be approved by board resolution.\u003c/p\u003e"},"bgParaColor":{"name":"","code":""},"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790219267686,"articleType":"element","name":"paragraph","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:39:50+0000","paragraph":{"body":"\u003cp\u003eImportantly, Tata Sons also contests Noel Tata’s claim that Article 121, rather than Article 118, was followed in Chandrasekaran’s 2022 reappointment.\u003c/p\u003e"},"bgParaColor":{"name":"","code":""},"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790219267686,"articleType":"element","name":"paragraph","title":"","type":"paragraph","subType":null,"paywallElement":false,"firstPublishedDate":"2026-09-24T06:39:50+0000","paragraph":{"body":"\u003cp\u003e\u003ci\u003eMint\u003c/i\u003e could not independently verify which article was relied upon when Chandrasekaran was reappointed in 2022.\u003c/p\u003e"},"bgParaColor":{"name":"","code":""},"amazonAds":null,"flipkartAds":null,"cromaAds":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":false},{"id":11790232815433,"articleType":"element","name":"","title":"","type":"alsoread","subType":"","paywallElement":false,"firstPublishedDate":"2026-09-24T06:56:04+0000","alsoReadStories":{"11789804829713":"Inside the 24 hours that laid bare Tata’s brutal power struggle"},"alsoReadStoryIdList":[11789804829713],"alsoReadStoriesUrl":{"11789804829713":"/companies/news/tata-sons-board-meeting-ipo-listing-chairman-natarajan-chandrasekaran-tata-trusts-noel-tata-11789804829713.html"}}],"amazonAds":null,"flipkartAds":null,"cromaAds":null,"flipkartAds25":null,"containAffiliateEmbed":false,"affiliateEmbedHeadline":true,"headline":"Who runs Tata Sons? Four clauses in its Articles of Association could decide","summary":"Tata Sons’ board and Tata Trusts are at odds over N. Chandrasekaran’s reappointment. Here’s what the company’s Articles of Association say about the Trusts’ powers and the chairman’s appointment.","quickReadSummary":"Tata S
1ons defends N. Chandrasekaran's reappointment despite Tata Trusts' objections, citing Articles 121 and 118 of its Articles of Association (AoA) to argue a casting vote was valid and that he was not a \"new chairman.\" Tata Trusts contends the decision lacked majority support, asserting that proper procedures were overlooked. The AoA establishes the Trusts’ special rights in governance.","mobileHeadline":"Who runs Tata Sons? Four clauses in its AoA could 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Trusts collectively hold 65.9% of Tata Sons and have special governance rights under the company’s Articles of Association.","name":"","alternateText":"","imageCredit":"Mint","overImage":false,"verticalImage":false,"width":2452,"height":1701,"imageUrl":null},"video":{"url":"","body":"\u003ciframe width=\"560\" height=\"315\" src=\"https://www.youtube.com/embed/26kzdPllEEw\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" 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Tata 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