Ratan Tata to have loudest voice if Tata Sons defaults on dividend payouts

In event of default, the voting rights of Ratan Tata would go up to 31.43% from 0.83% as preference and equity capital will be considered together

Tata Sons Chairman Emeritus Ratan Tata is set to have the greatest say in case the company defaults on dividend payment to shareholders for two years or more.
 
Under the new structure approved by the company’s shareholders at its annual general meeting (AGM) on Thursday, Tata Sons’ preferential shareholders would now have voting rights if the company defaults on dividend payments. As of December 2016, Ratan Tata was the largest holder of preference shares (35.6 per cent). He was also the biggest individual holder of equity and preference shares combined (31.43 per cent).
 
With Tata Sons shareholders voting