A power struggle escalates at the top of Tata Sons as Noel Tata makes a countermove following the Reserve Bank of India mandate on listing. Tata Trusts have proposed merging Tata Electronic Solutions and Tata Consulting Engineers into Tata Sons to shed its non-banking financial company status and avoid a public listing. The Tata Sons board had previously approved the listing recommended by the central bank, which Noel Tata opposed. The friction follows the approval and ratification of N. Chandrasekaran’s five-year reappointment as chairman of Tata Sons, marking an ongoing tussle between the board and Tata Trusts over corporate restructuring.
