More than two weeks after Natarajan Chandrasekaran announced he would not seek another term as Tata Group chairman, the search for his successor is still stalled due to a regulatory roadblock involving a key shareholder.
The search process is being held up because Sir Ratan Tata Trust — one of the 13 charities that make up the majority shareholder in Tata Group’s holding company — remains barred from conducting internal meetings under restrictions tied to an ongoing probe, according to people familiar with the matter. As a result, SRTT is unable to nominate its representative to the five-member joint search panel, the people said.
