The Tata group was not run by professionally managed boards but by the Chairman of Tata Trusts, Ratan Tata, through the Trust nominated directors on Tata Sons board, C A Sundaram, the counsel for the Mistry family, informed the Supreme Court today.
Tata Sons owns several listed companies running into Rs 65 trillion with public shareholders and there should be some kind of independence in decision making by the group companies, Sundaram said today. “If they (Tata Sons) wanted to keep it a family affair, then they should have remained so instead of making it public,” he said.
Tata Trusts,