Tata Investment Corporation on Wednesday announced a leadership transition, with Noel N. Tata retiring as chairman and director of the company with effect from the close of business hours on November 11, 2026. The company has appointed Bahram Vakil, currently its vice-chairman and an independent director, as the new chairman with effect from November 12.
Noel Tata will take on the role of chairman emeritus from November 12, in recognition of his contribution to the company. The retirement is in accordance with the Tata Group Governance Guidelines, which prescribe requirements relating to board composition, board committees and the retirement of directors.
Noel Tata has been associated with Tata Investment Corporation's board since June 9, 2004, and was appointed chairman on June 24, 2010. Over his tenure, he provided strategic direction and leadership to the company. The board placed on record its appreciation for his contributions over the past 22 years.
His successor, Bahram Vakil, is the co-founder of AZB & Partners and is among India's prominent lawyers in the areas of restructuring, bankruptcy, infrastructure and project finance. He holds an LLM degree from Columbia University and is qualified to practise law in both India and New York.
Vakil has advised distressed funds, insolvency professionals and domestic and international banks on restructuring and bankruptcy matters, including large stressed accounts referred for insolvency resolution by the Reserve Bank of India . Alongside the leadership changes, the board has also approved the appointment of Abizer Shabbir Diwanji as an additional non-executive independent director, with effect from November 12.
His appointment as an independent director is for five years, from November 12, 2026, to November 11, 2031, subject to shareholder approval. Ahead of the announcement, shares of Tata Investment Corporation closed at ₹591.30 on the NSE, up 2.46%, or ₹14.20, during Wednesday's trading session.