Darius Khambata declines Tata Trusts trustee term over reputation concerns
The board member alleged that a September 17 decision by Tata Sons directors damaged the company's reputation.
Darius Khambata has declined another term as a trustee of Tata Trusts, alleging that Tata Sons directors damaged the company's reputation. According to BusinessLine, the allegation follows a September 17 board decision to approve a third term for Chairman N Chandrasekaran.
The decision reportedly divided the board. Noel Tata dissented from the move and sought records of the meeting.
In other market news, SEBI has recommended that the government scrap long-term capital gains tax for foreign investors. The regulator also suggested offering tax relief to domestic mutual fund investors to boost equity markets.
The proposals come during a period of weak market returns and record foreign outflows. A final decision on these recommendations rests with the government ahead of the February budget.
Meanwhile, Indian markets rallied for a third straight session on Monday. The Sensex rose 1.66 per cent and the Nifty gained 1.68 per cent, led by Reliance Industries.
In the aviation sector, IndiGo is developing premium cabins as part of its international expansion. CEO Willie Walsh said the first 10 Airbus A350 deliveries are expected starting in 2028.