Tata Trusts, which owns approximately 66% of Tata Sons, will convene on May 8 to review its representation on the Tata Sons board. Currently, the board includes two nominee directors: Noel Tata, Chairman of Tata Trusts, and Venu Srinivasan, Vice-chairman. There are indications that Srinivasan may exit, leaving Noel Tata as the sole trustee nominee. Additionally, Noel Tata faces legal scrutiny regarding his role as a perpetual trustee at the Sir Ratan Tata Trust, where he may need to relinquish this status due to regulations limiting lifetime trustees. The meeting will also discuss recent public statements by Srinivasan and another vice-chairman, Vijay Singh, regarding the contentious issue of listing Tata Sons on the stock exchange. Despite previous resolutions opposing a listing, both vice-chairmen suggested that a listed entity would better position Tata Sons for raising funds, particularly in capital-intensive sectors like technology. The Reserve Bank of India (RBI) has mandated that upper-layer non-banking financial companies (NBFCs) list by September 2025, putting additional pressure on Tata Sons, which remains unlisted despite its classification as an upper-layer NBFC. This meeting is crucial as it may influence the future direction of the Tata Group.