A recent governance dispute may have started tensions among members of Tata Trusts, but there is another issue, a proposed funding plan for Tata International Ltd (TIL) that has deepened the rift, reported Moneycontrol.
The Rs 1,000 crore capital infusion plans for the loss-making Tata International, chaired by Noel Tata, has turned into the latest flashpoint in the widening divide within one of India’s most powerful charitable trusts.
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The disagreement centres on the way the funding proposal was cleared at a Tata Trusts board meeting held on September 11. Some trustees allege that the decision bypassed proper consultation and may have breached Article 121A of Tata Sons’ Articles of Association, which requires prior approval from the Trus
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