I was taken aback by this report in today's TOI:
Noel Tata, chairman of Tata Trusts, the controlling shareholder of Tata Sons, has called for greater scrutiny of large investments by the holdings company, requiring management to present detailed business cases, setting out the rationale, expected financial returns and risks of capita commitments before directors sign off on them, said people familiar with the matter.
Is this true? Were the proposals approved by the board last June without the required details being presented?
Tata Sons Chairman N Chandrasekaran or some senior official of the Tata group needs to clarify.
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