Tata Sons recently deferred a decision on reappointing Natarajan Chandrasekaran as chairman for a third term amid conditions set by Tata Trusts head Noel Tata. When he was announced as the Tata Sons head in January of 2017, THE WEEK’s cover featured Chandrasekaran at the small Mohanur village in Namakkal, Tamil Nadu—his childhood home.
Back in October 2018,more than a year after Chandra (as he is widely known) took the helm of Tata Sons, he told THE WEEK in an exclusive interview how he plans to simplify the Tata Group.
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Fast forward more than seven years, Chandra himself asked the Tata Sons board for a deferral of consensus in regard to his reappointment. After an eventful board meeting at Bombay House on February 24, 2026, where the decision to extend his chairpersonship was to be decided, Chandra told reporters waiting outside: "I recommended that it should be deferred."
This came after Noel Tata, head of Tata Trusts—the group's controlling entity—reportedly laid down some tough conditions.
When Tata Sons' board met at their iconic Bombay House headquarters in Mumbai, the agenda included discussing Chandrasekaran's reappointment—his current term ends in February 2027.
But according to reports, the discussion quickly veered into losses in certain group companies, like new ventures, and a push against Tata Sons adding debt. Noel is said to have asked for a commitment from Chandra to keep Tata Sons private with no IPO in sight. Chandrasekaran could not commit to it, for that rested with the RBI taking a decision—something not in control of the chairman.
Tata Sons, declared as a Core Investment Company (CIC), faced a September 30, 2025, listing deadline for upper‑layer NBFCs set by the Reserve Bank of India. But instead of opting for an IPO, they applied to surrender CIC status in March 2024 to stay private. Technically, the firm is operating in non-compliance with the RBI upper-layer NBFC listing mandate, since the apex bank has yet to decide on the matter.
N. Chandrasekaran joined Tata in 1987, led TCS as CEO, and became Tata Sons chairman in 2017, post the Cyrus Mistry ouster. Credited with doubling revenue and profits at top 15 listed firms, Chandra is also credited with some big moves: Air India turnaround, TCS navigating AI disruption, and pushing India's first homegrown semiconductor fab.
For now, it seems like Chandrasekaran's non‑family leadership is at loggerheads with Noel Tata's family oversight. But the current chairman has a year left, and a lot can happen in twelve months.