Tata Sons vs Tata Trusts: Chandrasekaran's third term gets legal backing from former SC judges
New Delhi, Sept. 24 -- Legal opinions obtained by Tata Sons have backed the validity of N Chandrasekaran's reappointment as chairman for a third five-year term, arguing that the company's Articles of Association require a Selection Committee for appointing a new chairman and not for extending or reappointing an incumbent.
The opinions of former Supreme Court judges Justice BN Srikrishna and Justice Uday U Lalit, also support the validity of the casting vote used by the chairman during the September 17 board resolution approving Chandrasekaran's third term.
The development comes after Tata Trusts, which owns about 66% of Tata Sons, challenged the resolution. The Trusts has argued that the Articles require affirmative support from a major...
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