New Delhi, October 10 (IANS). India’s veteran businessman Ratan Tata died late on Wednesday night at the age of 86. There is an atmosphere of mourning in the entire country along with the industry due to his demise. Apart from being a businessman, he is also known as a philanthropist.
He leaves behind a great legacy. In such a situation, the question is arising that after his departure, who will be his successor and who will take charge of Tata Trust, which operates Tata Sons, the holding company of the billion-dollar Tata Group.
Ratan Tata had not made any person his successor. In such a situation, now only one person from among their trust trustees will be elected for the post of president. The Tata Group has two main trusts, which include the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. These two trusts together hold about 52 percent stake in Tata Sons, the promoter company of the Tata Group.
Tata group companies are operated by this company. The group handles portfolios ranging from aviation to FMCC. There are a total of 13 trustees in both the trusts. Some of these people are acting as trustees in both the trusts, including Ratan Tata’s half-brother and Trent Chairman Noel Tata, former Defense Secretary Vijay Singh, automobile veteran Venu Srinivasan, businessman Mehli Mistry and lawyer Darius Khambata. Are.
The head of Tata Trust is elected on the basis of majority vote among the trustees. At present Vijay Singh and Venu Srinivas are the vice-chairmen of both these trusts, but the chances of any one of them being elected as the head are relatively less.
67 year old Noel Tata is most likely to be made the head of Tata Trust. The Parsi community will also be happy with Noel’s appointment. Ratan Tata was a Parsi. This will also ensure that the group is led by a Parsi only. This trust had donated more than Rs 470 crore in the financial year 2023.
–IANS
ABS/ABM
