The Tata Sons annual general meeting scheduled for August 18 may not take place after Sir Ratan Tata Trust, a key shareholder in the holding company of the Tata Group, was unable to nominate a representative due to a regulatory restriction imposed by Maharashtra’s Charity Commissioner, people familiar with the matter said.
The meeting is scheduled to consider, among other matters, the directorship of Tata Sons Chairman N Chandrasekaran, who has decided not to seek another term when his current tenure ends in February.
Tata Sons has not communicated any change in the scheduled AGM date to shareholders, the people said.
Latest indications are that the company plans to proceed with the meeting but could adjourn it if the required quorum is not achieved.
The problem stems from the inability of the Sir Ratan Tata Trust (SRTT) – which holds a 23.56 per cent stake in Tata Sons – to hold a board meeting because of an order issued by the Maharashtra Charity Commissioner in May pending an ..
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