Mumbai: N Chandrasekaran’s appointment as Tata Sons chairman comes at a time when the holding company of Tata firms has been engaged in a legal battle with ousted chairman Cyrus Mistry.
Chandrasekaran known as Chandra in corporate world will require closely-knit ties with Tata Trusts and group patriarch Ratan Tata as they have grasp and fully understand the issue Mistry brought to the tribunal.
Cyrus Investments Ltd and Sterling Investment, two Mistry family-owned firms, have appealed to the National Company Law Tribunal to stay and block Mistry’s ouster as chairman. The plea also seeks NCLT to disband entire Tata Sons board and declare it void.
Mistry invoked section 241 of the Companies Act to level allegation against Tata Sons and claimed “mismanagement and oppression” at the holding compnay of group firms.
Chandra already has is hands full with important tasks to complete even as he looks at top ‘corner office’ job at the iconic Bombay House in South Mumbai. He will have to figure out along with Tata group veterans next course of action on the litigation with Cyrus Mistry.
