In a September 30 letter, the Tata Trusts chairman asked the Tata Sons board for the recording and minutes of its September 17 meeting, executives said.
He says he wasn’t given enough time to present former CJI DY Chandrachud’s view that the chairman’s casting vote can’t override the trust nominees’ affirmative rights.
He also questions why the board obtained two more opinions after the vote, from former CJI UU Lalit and retired Justice BN Srikrishna; both upheld it.
4–1
board vote, Sept 17
5 years
new chairman term
2
opinions after vote
Why it matters The fight over Tata’s top job has moved from boardroom to lawyers.
Other side Three legal opinions back the vote, and an independent lawyer says a director has no unfettered right to a board video. Is this governance, or a lost vote relitigated?
Sanjay Malhotra called India’s financial system “very resilient”, but said long spells of stability encourage risk-taking and leverage.
He flagged high global debt, stretched AI valuations, leverage outside banks and Private credit Loans made by investment funds instead of banks, usually less regulated and less visible., with AI-driven cyber risk the most immediate.
The US 10-year Treasury touched a 24-year high of 5.34% on Thursday; India’s Bond yield The annual return a bond pays at today's price; rising yields mean borrowing is getting dearer. have risen more slowly than peers’.
5.34%
US 10-yr, 24-yr high
5
global risks flagged
4
priorities set out
Why it matters Calm periods are when banks take the risks that hurt later.
Other side He sees no imminent stress, and says an AI-valuation correction abroad could even send capital to India. Warning, or routine caution?
Hedge funds piled into leveraged bets on French debt over the summer, figuring French politics wouldn’t get much rockier.
A widening poll lead for Marine Le Pen and a poorly received budget plan sparked selling; short-term yields swung up to 0.40 points over two days.
France’s €3.5tn government bond market is Europe’s largest, and foreigners own more than half of it.
1.55 pts
France–Germany 10-yr gap
1.81 pts
record gap, Nov 2011
Why it matters Crowded trades exit through a narrow door.
Other side PGIM’s Robert Tipp says forced selling, not a change in France’s creditworthiness, drove the rout, and the ECB ultimately backstops eurozone bonds.
About 30 members, mostly Gen Z, pool research in an invitation-only Discord; they’ve made an estimated $40mn on Polymarket since 2024.
A CEPR study found two-thirds of Polymarket users lost money; 0.1% of profitable traders captured half the profits.
Polymarket and Kalshi averaged about $1.6bn a day in August, up nearly 2,000% in a year.
$40mn
Alpha’s est. profit since 2024
2/3
of users lost money
$1.6bn
daily volume, August
Why it matters A few sharps win; most bettors are the liquidity they feed on.
Other side Members call it skill, not luck. One, a PhD student now attending gambling-addiction meetings, says the real harm is the story that this is democratised finance.