Mumbai: A key annual general meeting of Tata Sons, the holding company of the salt-to-software conglomerate, had to be adjourned Tuesday due to lack of quorum, sources said.
The meeting had to be adjourned because Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust (SRTT), which jointly nominate a representative, could not be present, they said.
Tata Trusts hold nearly two-thirds of Tata Sons, and the SDTT and the SRTT are two of the most important bodies within the string of non-profits that make up the wider Tata Trusts.
The SRTT is under restrictions due to orders issued by the Maharashtra Charities Commissioner, which has asked the body not to make any major decisions or hold meetings.
The AGM was considered key because it comes within a week of current Tata Sons chairman N Chandrasekaran opting out of reappointment after his term ends next February.
Among the Tata Sons directors, Chandrasekaran and Anita George were present in Bombay House, the group headquarters in South Mumbai, while Tata Trusts’ chairman Noel Tata and Venu Srinivasan joined the meeting virtually, the sources said.
PTI