New Delhi, September 20 (Daily Kiran) : Abhishek Manu Singhvi, the lawyer for Tata Trusts, addressed the ongoing dispute within the Tata Group regarding the listing of Tata Sons and N. Chandrasekaran’s reappointment as chairman. Speaking in New Delhi, he asserted that the fundamental rights of shareholders cannot be disregarded. He warned that undermining these rights could lead to serious implications for corporate governance across countless companies in India.
In an interview, Singhvi expressed his disappointment, citing his long-standing collaboration with Ratan Tata and his deep respect for both the Tata Group’s legacy and its key figures. He stated, “As I take on the role of legal counsel for one side, I must emphasize that the rights of owners and shareholders are foundational and cannot be dismissed in this manner.”
Singhvi further criticized the sudden and mysterious orders from the Charity Commissioner that impede the operations of trusts, preventing them from holding meetings to discuss future actions. He described this as a tactic to disrupt democratic processes within the trust.
The lawyer also remarked on the unthinkable nature of severing the century-old relationship between Tata Trusts and Tata Sons, likening it to a divorce from both legal and practical perspectives. He highlighted the importance of adhering to the established rules of Tata Sons, which reflect its unique relationship with Tata Trusts. Singhvi noted that these rules were acknowledged in the Supreme Court’s ruling on the Mistry case.
The ongoing tensions within the Tata Group have raised significant concerns about the future of corporate governance in India, as stakeholders closely monitor the developments.
Leave a Comment