In its meeting held on Thursday, the Tata Trusts has stated that since Sir Ratan Tata Trust (SRTT) cannot participate in the meeting owing to the freeze by the Charity Commissioner, no joint representative can be elected for the AGM.

Further, the Tata Trusts is considering an urgent legal move to enable SRTT to be part of critical meetings as per the Trusts’ rules, as reported by the Economic Times.

Sir Ratan Tata Trust (SRTT) and Sir Dorabji Tata Trust (SDTT), the two principal Tata Trusts, have to jointly nominate three members to be part of the search committee that will help identify Chandrasekaran’s successor.

Tata Sons will now have to review the matter and decide whether the AGM should be held. The Tata Trusts board was scheduled to consider and approve accounts and other matters ahead of the Tata Sons annual general meeting on August 18.

SRTT is currently operating under restrictions imposed by the Charity Commissioner, limiting its ability to take certain decisions.

Earlier in the day, Tata Trusts held a meeting, coming a day after N Chandrasekaran announcement on not to continue with his re-appointment. The meeting was wrapped up swiftly as trustees considered their next steps.

In a statement released by the Tata Trusts, it said, “The Trustees of the Sir Dorabji Tata Trust have passed a resolution to initiate the setting up of a Selection Committee as soon as possible in accordance with the Articles of Association of Tata Sons, for the purpose of recommending a person for appointment as the new Chairman of the Board of Directors. We extend our full support to Tata Sons in ensuring a smooth, timely and orderly transition of leadership, consistent with the values and long-term interests of Tata Sons and the Tata group.”

N Chandrasekaran urges staff not to pay heed to “speculation and conspiracy theories”

N Chandrasekaran, the outgoing Chairman of Tata Sons outgoing Chairman, N Chandrasekaran, on Wednesday urged staff not to pay heed to “speculation and conspiracy theories” surrounding the leadership transition.

After his announcement in the morning over not to take the re-appointment as chairman, N Chandrasekaran addressed a town hall at Bombay House.

On Chandrasekaran’s move, the Trusts said, “The Sir Dorabji Tata Trust (SDTT) respects Mr. Chandrasekaran’s decision not to offer himself for reappointment. We place on record our deepest appreciation for his contribution and stewardship of Tata Sons and the Tata group over the past decade. We thank him for his immense contribution during a period of significant change, growth and transformation across the Group.”

Chandrasekaran said he had been touched with the love and affection of employees over the years and reflected on his four decades with the Tata Group.

“As you might have read or be aware, am not seeking reappointment after February 2027 as term comes to an end,” he told employees.