AoA amended: AGM clears splitting Tata Sons, trusts top posts

Earlier in its annual report, Tata Sons said it had received a request from Sir Dorabji Tata Trust and Sir Ratan Tata Trust to make an amendment in its Articles of Association.

The shareholders cleared the motion at the company’s annual general meeting held Tuesday.

Tata Sons’ shareholders approved a resolution that prevents a person who is the chairman of either of its two trusts from being eligible to head the company’s board. The shareholders’ approval means that the trusts Sir Dorabji Tata Trust and Sir Ratan Tata Trust — the two controlling shareholders of the company — and Tata Sons (the holding company of all Tata Group firms) will have separate individuals as chairman.

The shareholders cleared the motion at the company’s annual general meeting held Tuesday.

Earlier in its annual report, Tata Sons said it had received a request from Sir Dorabji Tata Trust and Sir Ratan Tata Trust to make an amendment in its Articles of Association (AoA). The shareholders have asked to insert a clause that “a person who is the chairman of either of the trusts or of both will not concurrently be eligible to be the chairman of the company’s board”.

“Now this has become legally binding, and the trusts and Tata Sons will continue to be chaired by two different individuals,” a source in the know said.

(With FE)