00:00Well, now we have some breaking news coming in. This is about Tata Sun's board and now they have
00:05approved the reappointment of N. Chandra Sekharan as chairman of the Tata group for another five
00:10year term, sources told ANI. And the reappointment of Chandra Sekharan was approved at a meeting of
00:15the Tata Sun's board held in Mumbai on Thursday. Now, as per sources, the Tata Sun's board approved
00:22Chandra's reappointment. Remember, he was also trying to quit. His term was coming to an end.
00:26But now, N. Chandra will continue as Tata Sun's chairman. Chandra gets another five year term
00:32added to his existing term. The board has approved Chandra's reappointment for the next five years
00:38now. And N. Chandra will lead Tata Sun for another five years. All the board members voted in favor
00:44of N. Chandra continuing. But Noel Tata, in fact, voted against the resolution. For more on that,
00:50we have Krishna Gopalian joining us. Krishna, now we are getting the news that Tata Sun's
00:56chairman's position is going to be of N. Chandra for at least the next five years as well. But
01:01before this, he was, his term was coming to an end. So, why this reappointment of N. Chandra
01:06now again for the next five years?
01:09Well, I think it's very clear that it's an all-out war in the boardroom of Tata Sun's.
01:15If Noel Tata has not given his go-ahead, it obviously means the AGM becomes supercritical.
01:21Because Chandra's reappointment at AGM is most important. And if you go by the current
01:25set of developments, for that to take place is anything but a formality. Where the board
01:30of Tata Sun's has said they want Chandra back as chairman of Tata Sun's, nothing can move
01:36till it's approved at AGM. The bigger problem is the fact that the Sir Ratan Tata Trust,
01:41the board meeting of that has not been conveyed. So, the moment that takes place, the issue then
01:45gets a little more complicated. So, much as Chandra's appointment has been clear with
01:49the board of Tata Sun's, the AGM is now going to be most important. Till the time that goes
01:54through this appointment, we have to wait.
01:57Right. Also shed light on Noel Tata's opposition to this. So, when before this, had he expressed
02:04his opposition to his reappointment? Why was that? And what is he saying now?
02:09Exactly. The consequence in terms of it being a split boardroom because it's now almost clear
02:15that it's Noel versus the rest. So, and in the essence of good spirit, any big ticket
02:20appointment will have to be taken place to complete unanimity. So, where the board has
02:25approved it, Noel Tata's dissent will be taken very seriously. And I don't see a scenario
02:31where he's likely to give his go-ahead for the reappointment of Chandra. And just to go
02:36back in time, we all know Noel Tata did raise objections about Chandra's performance as far
02:42as Air India and Tata Digital Electronics were concerned. So, it is quite likely the same
02:46issues will now come up for consideration at the board meeting of Tata Sun's.
02:49Right. So, we're learning that and Chandra, despite Noel Tata's opposition, is likely to
02:54get another five-year terms ahead of his term was going to end in February. But now we're
03:01seeing that in fact his appointment has now been confirmed for the next five years. It's
03:07the Tata Sun's board which met and the meeting was underway today. And now they have decided
03:12to keep N. Chandra who is now going to continue as Tata Sun's chairman. And the board has approved
03:19his reappointment as we have learned as well. And this was after the meeting was approved by
03:26the Tata Sun's board which was held in Mumbai today.
Comments