Abhishek Manu Singhvi: 'A 66% Shareholder Owner Is Nullified'
In an interview with India Today, Senior Advocate and parliamentarian Abhishek Manu Singhvi defended the legal stance of Noel Tata and Tata Trusts in the ongoing boardroom conflict with Tata Sons. Singhvi argued that under Article 121 of the Articles of Association, no matter can be considered or decided by the board without the affirmative vote of a majority of Tata Trust nominees. He stressed that a majority out of two nominees requires both to agree, noting, "Mr. Noel Tata is one of the two who differed. That's it." Singhvi cited paragraph 219 of the Supreme Court's Cyrus Mistry verdict, affirming that trust veto rights are legally valid and non-oppressive. He further dismissed the Reserve Bank of India listing debate as a red herring, arguing it does not override statutory corporate governance and shareholder rights.
