The board of Tata Sons on Thursday granted a five-year extension to N Chandrasekaran as executive chairman, despite dissent from Noel Tata, with board also chose to move forward with the listing of Tata Group’s holding company according to the directive from the Reserve Bank of India (RBI), as per the source privy to the matter.They said the resolutions will now need approval at the annual general meeting (AGM) of Tata Sons. Venu Srinivasan and Noel Tata, representing Tata Trusts on the Tata Sons board, are key shareholders participating in the process.The source indicated that Srinivasan backed both Chandrasekaran’s reappointment and the listing proposal. If the AGM disapproves of either proposal, the decisions will not be valid under the Companies Act.The choices arise amid disagreements regarding leadership and the firm’s ongoing status as a non-listed organisation. Last week, the RBI turned down Tata Sons’ request to give up its non-banking financial company (NBFC) registration. The choice has rekindled the possibility of a stock market listing, which Tata Sons has tried to evade for over a year.The suggested IPO of Tata Sons has been a major source of dispute within the Tata group. Tata Trusts, owning approximately 66 percent of the holding company, has voiced opposition to an IPO, while the Shapoorji Pallonji Group, which possesses about 18.4 percent, has supported a listing to enhance value and boost liquidity.The discussion regarding the listing has also coincided with doubts about the company’s leadership. Chandrasekaran, appointed as Tata Sons chairman in February 2017, was given a second five-year term in 2022.Meanwhile, shares of the Tata group rose sharply after the news. Tata Chemicals climbed 9.21 percent during intraday trading. The stock price of Tata Investment Corporation increased by 7.22 percent.Tata Trusts backed his extension for a third term in 2025, but the plan faltered in February 2026 when Noel Tata expressed worries about companies like Air India and Tata Digital. Chandrasekaran mentioned in August that he would not pursue another term.