A company linked to N Chandrasekaran’s family leased land from TVS Motor for a warehouse project, Mint reported, raising questions over disclosure at Tata Sons
A business link between TVS Motor and a company controlled by members of Tata Sons chairman N Chandrasekaran’s family has raised questions over disclosure and corporate governance at the Tata group, Mint reported on Tuesday, citing documents.
The disclosure questions come amid a dispute at Tata Sons over Chandrasekaran’s reappointment. TVS Motor chairman-emeritus Venu Srinivasan recently backed Chandrasekaran for another five-year term. Srinivasan is also a Tata Sons director and sits on its Nomination and Remuneration Committee, which reviews the chairman’s performance.
According to the report, corporate records show that Chandrasekaran’s wife Lalitha and son Pranav are directors of Hanno One Warehousing, incorporated in March 2025. Hanno Infra LLP owns 99.99 per cent of the company, while Pranav holds one share directly.
Three months after its incorporation, Hanno One leased 17 acres of land from TVS Motor in Uddanapalli village in Tamil Nadu’s Krishnagiri district, according to state registration records cited by Mint.
The company plans to build a 3.3 lakh square feet warehouse on the site. The project has an estimated construction cost of Rs 106.3 crore and is scheduled for completion by March 2027. HDFC Bank has offered Hanno One a Rs 60 crore construction loan, with the lease rights and proposed building as security.
More from BusinessThe disclosure question centres on whether the transaction should have been brought before the Tata Sons board. An executive cited by Mint said neither Srinivasan nor Chandrasekaran disclosed the external business relationship to the board, potentially raising questions under the Tata Code of Conduct.
Tata Sons rejected that interpretation. It said Hanno One’s incorporation had been disclosed in April 2025 to companies where Chandrasekaran is chairman, the report said. It also said TVS Motor is an independent listed company and has no dealings with the Tata Group, meaning the specific transaction did not require disclosure.
Tata Trusts said Srinivasan had not disclosed the transaction to its trustees and that it understood no such disclosure had been made to the Tata Sons board. The Trusts added that it could not independently verify board proceedings.
