Tata Sons approves appointment of Noel Tata as director

New Delhi: Shareholders of Tata Sons, the principal holding firm of the Tata group, have unanimously approved all six resolutions, including the appointment of Noel N Tata as director of the company, at its annual general meeting held on Thursday, according to sources.

The AGM, which was conducted virtually, was held on a very positive note and all the resolutions under ordinary and special business heads were approved unanimously, said a person in the know of the development.

Among the special business was the appointment of Noel N Tata, the Chairman of Tata Trusts, as a director of the company. He was appointed by the board of directors as an Additional Director with effect from October 22, 2024, after the death of Ratan Tata.

“His appointment and all six other resolutions were passed unanimously. The Shapoorji Pallonji Group also supported all the resolutions. These are good times for the (Tata) group,” said a source.

Tata Trusts hold 66 per cent of Tata Sons’ equity while the Shapoorji Pallonji Group holds 18.4 per cent stake in the company.

The other resolutions in the AGM include reappointment of Venu Srinivasan, Chairman Emeritus of TVS Motor Company, as a Director of Tata Sons and declare dividend on preference shares and ordinary shares of the company for the financial year 2024-25.

As per Tata Sons annual report for FY25, the directors had recommended a dividend of Rs 64,900 per share on 4,04,146 ordinary shares as compared to Rs 35,000 in previous fiscal.

The directors had also recommended a dividend on cumulative redeemable preference shares amounting to Rs 13 lakh for FY25. It was Rs 19.78 crore in the previous fiscal.

The other special business approved in the AGM was the appointment of Anita Marangoly George as a director.

The re-appointment of Saurabh Agrawal as a director, along with the standalone and consolidated financial statements, was also approved unanimously by the shareholders of Tata Sons, the sources said.