For decades, the Tata Group's single biggest strength came not from the multi-billion businesses it owned but from the governance architecture surrounding Tata Sons. With a single act by Tata Sons chairman N Chandrasekaran, who voted for his own appointment for the next five years, he has thrown the entire Tata Group into disarray by going back on his decision not to seek another term. Now that the deed is done, Tata Trusts chairman Noel Tata has publicly said it was illegal and, therefore, the next major battle will shift to the annual general meeting.

Tata Trusts’ 66 per cent shareholding gives it a huge boost at the AGM—provided the AGM can be validly convened and the directorship resolution is put to shareholders. Obviously, all this comes with........

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