The Tata Trusts, which own more than 60 per cent of Tata Sons, has been in the news for the past few days due to reported internal fighting over governance. Now, a proposed funding plan for Tata International Ltd (TIL) has emerged as the key issue that deepened the rift, reported Moneycontrol. The loss-making Tata International is chaired by Noel Tata, who has led the firm since 2010. There was a Rs 1,000 crore capital infusion plan for the firm.

The funding proposal

The funding proposal was cleared at a Tata Trusts board meeting held on September 11. It triggered allegations of inadequate consultation and potential breach of Article 121A of Tata Sons’ Articles of Association, which mandates prior approval from the Trusts for major financial commitments.

"The issue is not whether TIL ne

See Full Page