Aliff Fazelbhoy, Senior Partner at ALMT Legal told Times Now Digital, “this is by no means a simple case of who is right and who is wrong. The Trusts are entitled to act as majority shareholders and protect their rights, and the board is entitled to act as a board which has its duty primarily to the company and not only to its largest shareholder. The Trusts’ or rather Noel Tata and the family wish to keep Tata Sons private which is a legitimate shareholder objective rooted in the philosophy of maintaining the group’s philanthropic objectives alongside being a profitable business. However, RBI’s framework for listing also has to be examined carefully.
