Mumbai27 minutes ago
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A very important and high-profile board meeting of Tata Sons was held today i.e. on 26th May at Bombay House in Mumbai. According to ANI, in this first major meeting held after the death of Ratan Tata, the group’s new corporate governance blueprint and future strategy were discussed in detail. In the meeting, along with the controversial issue of bringing IPO of Tata Sons, the performance of unlisted companies was also reviewed.
All 6 board members including Noel Tata and Chandrasekaran were present.
All 6 members of the Board of Directors of Tata Sons attended this important meeting. These include Tata Sons Executive Chairman N. Chandrasekaran, vice chairman and head of Tata Trusts Noel Tata and non-executive director Venu Srinivasan were present.
Apart from these, Executive Director and Group CFO Saurabh Aggarwal along with Independent Directors Harish Manwani and Anita Marangoli George also attended the meeting.
Tata Sons Chairman N. Chandrasekaran leaving Bombay House after attending a meeting of Tata Sons Group in Mumbai.
Discussion on bringing IPO of Tata Sons
The main agenda of the board meeting was the listing and IPO of Tata Sons. There has been a debate going on for a long time regarding Tata Sons whether the company should be listed in the stock market or not.
The company has paid off the loan to avoid RBI rules
According to the upper-layer NBFC rules of RBI, it is necessary for some companies to be listed on the stock exchange. To avoid these regulatory rules, Tata Sons had paid off its debt in full, so that it would not necessarily have to be listed.
However, some factions and large shareholders of Tata Trusts believe that the company’s IPO should come. His argument is that this will give an accurate idea of the market valuation and will also bring stability in the dividend stream.
Directors remained silent after the meeting
After coming out of the Bombay House headquarters, all the directors and members who attended the meeting maintained distance from the media. No member clearly refused to comment on what decisions were taken or which proposal was approved in the board meeting. The company is keeping this entire matter completely confidential.
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