The Tata Sons annual general meeting (AGM), scheduled for Tuesday at 2.30 pm, is likely to be adjourned for lack of quorum as the Sir Ratan Tata Trust (SRTT) continues to face a ban on convening meetings, people with knowledge of the matter said.
Under the Tata Sons Articles of Association, the holding company’s AGM requires the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust (SDTT) to jointly nominate a representative. The two trusts, along with several smaller Tata trusts, collectively hold a 66% stake in Tata Sons.
With SRTT unable to convene its board, the two trusts have not been able to jointly nominate a representative, leaving the AGM without the required quorum. Under Article 87 of the Articles of Association, if a quorum is not present within half an hour of the scheduled start, the meeting stands adjourned.
Key items on the AGM agenda are consequently likely to remain pending. These include the reappointment of Tata Sons chairman N Chandrasekaran as a director and the approval of the dividend for FY26. In its FY26 annual report, Tata Sons said its board had recommended a dividend of Rs 1,10,717 per share. This translates into a total payout of Rs 4,478.58 crore, an increase of 70.6% year on year.
The restriction on SRTT stems from a directive issued by the Maharashtra Charity Commissioner in May. The authority said it was investigating allegations of governance lapses at the trust and directed SRTT to refrain from holding board meetings while the inquiry remained underway.
Over the past few days, SRTT has sought temporary relief from the Charity Commissioner but has so far been unsuccessful. Although it has the option of approaching a higher court, the trust has not yet exercised it.