Rahul Gandhi, the leader of India's Congress party, has accused the Union government of procedural irregularities in the reappointment process of N Chandrasekaran as the executive chairman of Tata Sons. The allegations come amid a dispute within the leadership of Tata Sons over the proposed listing of the holding company on the stock market.
Congress leader Rahul Gandhi has accused the Union government of procedural irregularities in the reappointment process of N Chandrasekaran as the executive chairman of Tata Sons. According to Gandhi, no business leader has dared to speak out and he questioned how long they would remain silent. He stated that Indian business is not a 'plaything' of Prime Minister Narendra Modi and Union Home Minister Amit Shah.
The allegations were made on social media on Wednesday. The dispute within the leadership of Tata Sons, which serves as the holding entity for the conglomerate’s companies, revolves around the reappointment of Chandrasekaran as the executive chairman and the proposed listing of the holding company on the stock market.
Noel Tata, who heads Tata Trusts, a group of philanthropic entities that holds a 66% stake in Tata Sons, has challenged the validity of a resolution passed by the Tata Sons board on September 17. In a letter written to the company secretary and the group’s corporate secretary on Monday, Noel Tata stated that the agenda circulated for the September 17 board meeting had not specified Chandrasekaran’s reappointment. He also alleged that despite repeated requests, the company had not given him the meeting’s audio and video recordings, final minutes or a certified copy of the resolution, as reported by ANI.
Tata Trusts have argued that the support of their nominees on the Tata Sons board was required under the holding company’s Articles of Association to adopt resolutions. The Tata Group has not yet commented on the remarks made by Gandhi.
Source:
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