Noel Tata stepped down as chairman of Tata Investment Corporation on Wednesday and has been appointed chairman emeritus, marking a change at the helm of the Tata Group's investment arm. Bahram Vakil has been named his successor as the company's new chairman.
A stock exchange filing stated that Tata's appointment as chairman emeritus will take effect from November 12, 2026.
Under the Tata Group's governance framework, the prescribed retirement age for Non-Executive, Non-Independent Directors is 70 years.
Who Is Bahram N Vakil?
Bahram N Vakil is an established corporate lawyer and co-founder of AZB & Partners, among India's leading law firms. His areas of specialisation include corporate restructuring, infrastructure, project finance and insolvency-related matters.
As one of the firm's founding partners, Vakil has represented distressed investment funds, insolvency professionals, and Indian and overseas banks in complex financial and corporate transactions. He has also advised on several major stressed accounts referred by the Reserve Bank of India (RBI) for insolvency proceedings.
His work in restructuring and project finance has received recognition from prominent international legal publications.
Bahram N Vakil's Education And Legal Background
Vakil earned a Master of Laws (LL.M.) degree from Columbia University in the United States. He is also enrolled as a member of the New York State Bar.
Apart from his legal practice, he has held several advisory and institutional positions associated with India's financial system, regulatory framework and policy reforms.
Vakil's Role In India's Insolvency And Financial Reforms
Over the years, Vakil has contributed to various committees and initiatives dealing with insolvency legislation, financial restructuring and regulatory reforms.
Some of his notable institutional associations include:
Insolvency Law Academy: Was part of its Thought Committee on Bank Insolvency in 2023.
ASSOCHAM: Headed the National Council on Insolvency & Bankruptcy Code and Valuation in 2023.
Arbitration law reforms: Served on an expert panel constituted to propose reforms to arbitration legislation.
RBI: Participated in the Task Force on the Development of the Secondary Market for Corporate Loans.
Financial sector reforms: Was associated with the Financial Sector Legislative Reforms Committee.
SEBI: Served on the Securities and Exchange Board of India's Advisory Group in 2011.
Foreign investment: Was a member of the UK Sinha Committee's Working Group on Foreign Investment in India in 2010.
Vakil's Association With The Tata Group
Vakil's involvement with the Tata Group has grown over the past few years. In March 2025, he became vice-chairman and an independent director on the board of Tata Investment Corporation.
His latest appointment as chairman marks a further expansion of his responsibilities within the Tata Group.
