Tata Defers Call on Chairman’s Term, Signaling New Power Tussle

The board of Tata Sons Pvt. deferred a decision on granting a third term to Chairman Natarajan Chandrasekaran, people familiar said, in the latest sign that another leadership tussle is brewing at India’s oldest conglomerate.

The deferment by Tata Group’s holding company follows a difference of opinion among the board of directors regarding financial losses in some business units, according to one person who asked not to be identified as the information is not yet public. Noel Tata, who heads Tata Trusts, opposed it citing factors including the retirement age cap of 65 years, another person said.