Tata Sons’ board has reappointed N Chandrasekaran for a five-year extension and backed a public listing of the holding company despite opposition from Tata Trusts, which owns 66% and called the decisions illegal under the company’s articles of association. The reappointment could still be rejected at the Annual General Meeting, which must be held before 31 December after the previous meeting lacked a quorum. The dispute comes as the Reserve Bank of India maintains Tata Sons’ classification as an upper layer non-banking financial company, a status that creates a listing obligation. Tata Sons’ failed attempt to overturn that classification has brought a potential stock-market debut closer, although Tata Trusts continues to oppose listing and is exploring legal options. The conflict also raises questions about the group’s governance, its charitable funding model and its ability to finance businesses including Air India and other long-term ventures while pursuing high-stakes investments in semiconductors, airlines, iPhones, artificial intelligence and aerospace.