business ⚖️ Tata boardroom fight: Who covers the legal costs?
A legal battle is brewing between Noel Tata and N Chandrasekaran over the Tata Sons boardroom. Mehli Mistry, a TEDT trustee, objected to using trust funds for the legal expenses in this dispute. The conflict stems from Tata Trusts challenging the board's approval of Chandrasekaran's five-year term on September 17. The core issue involves Tata Sons' Articles of Association and the rights of the Trusts, which hold about 66% of Tata Sons. This raises questions about who should bear the substantial litigation costs moving forward. ⚖️