India, Aug. 14 -- Less than twenty-four hours after Tata Sons chairman N. Chandrasekaran resigned and said he won't continue beyond 20 February 2027, when his tenure ends, the largest shareholder of Tata Sons accepted his resignation and moved to begin the process of finding his replacement, even as procedural hurdles to the exercise remain.

In a statement on Thursday, Sir Dorabji Tata Trust (SDTT) thanked Chandrasekaran for his contribution to the Tata Group, and said its trustees have passed a resolution to initiate the setting up of a selection committee as soon as possible to appoint the new chairman.

"We extend our full support to Tata Sons in ensuring a smooth, timely and orderly transition of leadership, consistent with the value...