Sitharaman urges Tata Sons and Tata Trusts to resolve dispute privately

Business · First reported 2 Nov, 16:18 · Updated 16:25

Finance Minister Nirmala Sitharaman called for an amicable, swift resolution and declined to say whether the government should intervene.

Sitharaman described the differences between Tata Sons and Tata Trusts as delicate and urged the sides to settle them amicably rather than in public.
Asked about government intervention, she declined to comment on whether it should bring the sides to the negotiating table.
The report says Tata Sons’ board proceeded with a listing in line with an RBI mandate and reappointed N. Chandrasekaran as chairman; Noel Tata was the sole director to oppose those decisions.

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Key facts

Speaker: Finance Minister Nirmala Sitharaman
Disputing parties: Tata Sons and Tata Trusts
Board meeting: September 17
Board decision: Proceed with a listing in line with the RBI mandate and reappoint N. Chandrasekaran as chairman
Vote: Noel Tata was the only director reported to vote against the decisions