Tata Sons chairman N Chandrasekaran and Tata Trusts chairman Noel Tata met on Oct 25 to address differences concerning the conglomerate's leadership, but the discussions ended without a resolution, The Economic Times reported on Friday.
Former Tata Group veteran NA Soonawala reportedly facilitated the meeting, which focused on several matters involving the group's holding company.
These included a potential listing of Tata Sons, a proposed acquisition of the Shapoorji Pallonji (SP) Group's shareholding and Chandrasekaran's continuation as chairman.
The reported discussions followed differences over governance and leadership decisions at Tata Sons.
In a letter dated Oct 26, Noel Tata questioned the procedures adopted for approving Chandrasekaran's reappointment, particularly the voting requirements and possible conflicts of interest.
He also requested access to recordings of the relevant board meeting, its final minutes and voting records.
The issues surrounding Chandrasekaran's tenure remain unresolved, according to the report.
The proposed listing of Tata Sons and the possibility of buying out the SP Group's stake were also among the matters discussed.
However, the report did not indicate that the parties had reached an agreement on any of these proposals.
Separately, Noel Tata is scheduled to step down from the boards of six Tata Group companies on Nov 12, when he turns 70.
The move follows the conglomerate's retirement policy for non-executive directors.
He currently serves as non-executive chairman of Trent, Voltas, Tata Investment Corporation, Tata International, Trent Hypermarket Private Limited and Dubai-based Tata International West Asia DMCC.
Despite these departures, Noel Tata will continue as a Tata Trusts nominee director on the board of Tata Sons.
He also holds the position of non-executive vice-chairman at Tata Steel and Titan Company.
Additionally, he serves as a director of Inditex Trent Retail India Private Limited, a joint venture associated with Spanish fashion retailer Inditex.
The board departures come amid continuing discussions over Tata Sons' governance and leadership arrangements.
