New Delhi, Aug. 12 -- N. Chandrasekaran, the chair of Tata Sons, which is the principal investment holding company of the Tata Group, a $400-billion conglomerate, has stepped down amid tensions with its largest shareholder, Tata Sons, CNBCTV18 reported.

The report says that Chandrasekaran will complete his current term, after which he will not seek reappointment.

A resolution on extending Chandrasekaran's chairmanship in July 2025 had set two conditions for the same - Tata Sons had to remain unlisted while a solution had to be found for the Shapoorji Pallonji Group's share in the company, which needed liquidity, the report also revealed.

This is a developing story. Check back later for more updates.

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