New Delhi, Oct. 21 -- A pall of intrigue hangs over the Tata Group, as boardroom differences come to the fore at the two entities that hold the keys to the group: Tata Sons and Tata Trusts.

Disagreements over board appointments, corporate governance, and control over strategic decisions have reached the Reserve Bank of India (RBI) as well as key ministers in the central government. While individuals in the boardroom make the required manoeuvres, the broader drama unfolds at an institutional level. Who are the key actors, what are their compulsions, and what is guiding their actions? Mint explores.

Tata Sons Pvt. Ltd is the unlisted principal holding company of the Tata Group. According to its 2024-25 annual report, it holds stakes in 35...