Bengaluru/Mumbai, 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 values and long-term interests of Tata Sons and the Tata group," the statement said. Despite the start of this formal process, the formation of a selection panel to find a successor to Chandrasekaran remains stalled because another important Trust, Sir Ratan Tata Trust (SRTT), cannot conduct any business and did not meet on Thursday. A Maharashtra charity commissioner order dated 15 May currently prevents SRTT from holding board meetings or making decisions, following allegations by two of its trustees and a third complainant of wrongdoing in the Trust's composition. Tata Sons is majority owned by SDTT and SRTT, which hold 27.98% and 23.56% stake, respectively. The wider Tata Trusts, including SDTT and SRTT, own 65.9% of the Tata Group holding company. Thursday saw a series of separate meetings for the boards of SDTT and seven smaller trusts affiliated with it. The meetings started at 9:30am and the last meeting ended at 6pm, according to an executive familiar with the matter. SDTT has six trustees-Tata Trusts chairman Noel Tata, his son Neville Noel Tata, former Titan Company chief executive officer (CEO) Bhaskar Bhat, TVS Motor Corp chairman emeritus Venu Srinivasan, former defence secretary Vijay Singh, and Mumbai-based lawyer Darius Khambata. Srinivasan and Singh attended the meeting virtually, according to the executive. Srinivasan recused himself from the other Trust meetings after the SDTT meeting. "Chandrasekaran's announcement yesterday not to seek a renewal changed the nature of the meeting," the executive said, requesting anonymity. SRTT's board members include Noel Tata, Venu Srinivasan, Ratan Tata's younger brother Jimmy Tata; Khambata; and Pune-based businessman and philanthropist Jehangir H.C. Jehangir. Singh stepped down from its board earlier this week. Under Tata Sons' articles of association, the next chairman will be appointed by a five-member selection committee. Three members are jointly nominated by SDTT and SRTT. One is nominated by the Tata Sons board, and one independent member is selected by Tata Sons. The chairman of the selection committee is chosen by SDTT and SRTT from among their three nominees. "One option available for the Tata Trusts to fast-track this entire process is to file a writ petition before the Bombay High Court asking to intervene and direct the charity commissioner to allow them to go ahead with the setting up of a selection committee," said senior Supreme Court lawyer H.P. Ranina. Another Tata Group executive acknowledged that the option of seeking a legal route has not been exercised yet, as it remains hopeful of getting a favourable verdict from the Maharashtra charity commissioner....