Noel Tata’s Tough Ask on IPO Stalled Vote on Chairman Tenure

An early agenda item for Tata Sons Pvt.’s six board directors when they convened at 11:30 a.m. on Tuesday at Bombay House — the group’s storied headquarters — was expected to be straightforward: approving a third term for Natarajan Chandrasekaran as chairman.

Within two hours, the conversation had veered off course. What had looked like a done deal, with Tata Trusts itself recommending the reappointment just months ago, quickly unraveled.