The Tata Trusts panel was formed at a time when records of correspondence between Ratan Tata and Cyrus Mistry showed a widening rift between Tata Sons and Tata Trusts, which culminated in Mistry’s sacking. Savaksha and Taraporevala are, respectively, secretary and chief financial officer of the Sir Dorabji Tata Trust and Sir Ratan Tata Trust. Spokespersons at Tata Trusts, the largest shareholders in Tata Sons, and Mistry’s office declined to comment. According to Subramanian, the Tata Sons chairman will continue to be “pulled in all directions till there is a framework in place”. The committee was formed at a time when records of correspondence between Ratan Tata and Mistry showed a widening rift between Tata Sons and Tata Trusts, which culminated in Mistry’s sacking .

Source: Mint February 27, 2017 20:37 UTC