Turmoil Deepens at India’s Tata Group as Top Executives Exit
- Two more members of Mistry’s council are said to have resigned
- Mistry refutes claim of not informing board of an acquisition
New name plates at Bombay House shows Ratan Tata as interim Chairman in Mumbai, India on Oct. 27.
Photographer: Hindustan Times/Hindustan Times via Getty ImagesThe acrimonious battle at India’s largest conglomerate is showing no signs of resolution as more officials resigned amid reports that an attempt at mediation between the scion of the founding family and ousted head of Tata Sons Ltd. has started.
Tata Group Chief Human Resources Officer N.S. Rajan resigned Friday, according to a company spokesman. On Saturday, Madhu Kannan and Nirmalya Kumar, members of former Chairman Cyrus Mistry’s Group Executive Council quit, people with knowledge of the matter said, asking not to be identified before an official announcement. Meanwhile, the CNBC-TV18 network reported that a trustee of Tata Trust, the biggest shareholder of the group, Darius Khambata, has initiated talks between Mistry and Ratan Tata, Mistry’s predecessor who has temporarily assumed charge.