Tata Sons AGM called off due to lack of quorum

Mumbai, Aug. 18 -- The Annual General Meeting (AGM) of Tata Sons scheduled on Tuesday had to be called off due to lack of quorum, and due to a restriction involving the Sir Ratan Tata Trust (SRTT), according to an official statement.

Significantly, this is the first time that such a development has taken place in 109 years of existence of the Tata group.

The development comes against the backdrop of Tata Sons Chairman N Chandrasekaran deciding not to seek another term as Chairman of Tata Sons, which is the holding company of all Tata group companies.

Chandrasekaran's decision has set in motion the process of identifying his successor, and the Sir Dorabji Tata Trust (SDTT) initiated the process.

Tata Trusts, which control around 66% of T...