Tata Group stocks fall 8% as Tata Trusts calls Chandrasekaran’s extension illegal
Tata stocks took a notable hit following the declaration by Tata Trusts that Chandrasekaran's reappointment was illegal.
The Reserve Bank of India also denied Tata Sons' plea to maintain private status.
With Tata Trusts holding a majority of shares and opposing the IPO, Noel Tata has proposed looking into structural alternatives to appease the regulator.
The upcoming Annual General Meeting is now critical for Chandrasekaran's role on the board.
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on economictimes.indiatimes.com — the content belongs to The Economic Times.
