Tata Sons’ board is set to meet on May 26, with N Chandrasekaran’s reappointment for a third term expected to be the key agenda.
The meeting comes amid concerns over losses in key businesses like Air India and Tata Digital.
The board is also likely to review the group’s expansion strategy and the long-term direction of its unlisted holding structure.
Tata Sons’ board of directors is set to meet on May 26, with the key focus expected to be the reappointment of Chairman N Chandrasekaran for a third term. The proposal reportedly did not go through at the previous board meeting held on February 24, after opposition from Noel Tata.
The meeting also comes amid concerns over losses at several Tata Group businesses, including Air India, Tata Digital, Tata Electronics, and Tata Projects. The board is expected to seek greater clarity from Chandrasekaran on reducing losses, improving returns, and outlining a roadmap to profitability.
1 May 2026
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Air India is likely to remain under focus after reporting a net loss of around ₹10,859 crore in FY25, with reports suggesting losses could widen further in FY26 due to restructuring and aircraft upgrade costs.
Questions Over Expansion
Noel Tata is not against the Tata Group expanding into new-age businesses, including strategically important sectors such as semiconductors. The group has significantly increased investments in semiconductor expansion through Tata Electronics, including the $11 billion Dholera semiconductor fab and partnerships with ASML, along with a growing focus on AI infrastructure and data centre capacity in India.
However, he is believed to have sought greater clarity on capital allocation, sustainability of long-term investments, and the overall strategic direction of the conglomerate.
Chandrasekaran is now expected to present an updated business roadmap before the board, as the strategy shared last year is reportedly being viewed as outdated amid shifting market conditions, rising capital commitments, and changing realities across businesses such as aviation, digital commerce, and electronics manufacturing.
Tata Sons Listing Issue
He is also expected to articulate his views on whether Tata Sons should remain unlisted. The potential listing has remained a sensitive issue within the Tata ecosystem over the past few years. In September 2022, the Reserve Bank of India (RBI) classified Tata Sons as an upper-layer Non-Banking Financial Company (NBFC-UL) under its Scale-Based Regulation framework, which required it to list by September 2025.
In 2025, Tata Sons disclosed that it had surrendered its registration as a Core Investment Company (CIC) under RBI regulations and sought exemption from the mandatory IPO requirement.
