Tata Sons Board Meeting On November 26: Noel Tata Seeks 2 Key Resolutions; Rs 25,000 Crore SP Group Proposal In Focus

Tata Trusts' Chairman Noel Tata (File Photo)

Tata Sons is scheduled to hold its next board meeting on November 26, with two major proposals likely to come up for consideration following a request from Tata Trusts Chairman Noel Tata. Sources told ET Now that Noel Tata has sought the inclusion of two additional matters in the meeting's agenda, invoking Article 121B of the company's Articles of Association.

The proposed resolutions concern a major restructuring of Tata Sons and a liquidity arrangement worth Rs 25,000 crore for the Shapoorji Pallonji (SP) Group. Both developments could have important implications for the holding company, its ownership structure and its relationship with the SP Group.

Tata Trusts holds approximately 66 per cent equity in Tata Sons, making its position significant in decisions concerning the group's holding company.

Noel Tata Seeks Two Additional Agenda Items For November 26 Meeting

Sources indicate that Noel Tata has requested the inclusion of two resolutions in the agenda for the upcoming Tata Sons board meeting. The request has been made under Article 121B of the company's Articles of Association.

Article 121B provides directors with the right to give at least 15 days' notice for placing a resolution before the…

Original source: https://www.timesnownews.com/business-economy