EXPLAINER — Tata Group's boardroom clash rocks India's most storied conglomerate
By Jayshree P Upadhyay and Arpan Chaturvedi MUMBAI, Sept 18 (Reuters) — India's Tata Group, which owns Jaguar Land Rover and Air India, is facing its worst crisis in years, pitting the board of its holding company against its controlling charity arm and raising questions about the future of the 158-year-old conglomerate. Here is an explainer on the complex dispute that has embroiled the salt-to-aviation group, which has annual revenues of over $180 billion. What Is The Tussle About? Tata Sons and its controlling charity arm, Tata Trusts, have been at odds for months over issues including a potential listing of Tata Sons, Air India's mounting losses and a planned exit of a minority shareholder. The board of Tata Sons, the group's holding company, reappointed Natarajan Chandrasekaran as its chairman for another five years on Thursday, despite opposition from the head of Tata Trusts. After the decision, Tata Trusts publicly protested against Chandrasekaran's reappointment, calling it in breach of internal rules, and also opposing any stock market listing of Tata Sons, warning it would "destroy" the character of a group majority-owned by charities. Who Runs Powerful Tata Trusts And Wha
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