New Delhi, Aug. 20 -- Noel Tata finds himself at the centre of the Tata Group at a particularly awkward moment. The first sign of trouble came when Tata Sons Pvt. Ltd.'s annual general meeting had to be adjourned for lack of quorum, as Sir Ratan Tata Trust could not nominate a representative because of regulatory restrictions.

But the bigger challenge is what he inherits from N. Chandrasekaran. After taking charge of Tata Sons in 2017, Chandrasekaran built a more centralised and ambitious group, backing big bets in areas such as digital to electronics and aviation. The result is a more powerful Tata Sons, but also unfinished and capital-intensive bets.

Noel Tata, who took over as chairman of Tata Trusts after Ratan Tata's death, increas...