File photo (Image credit: Tata)
MUMBAI: The board of Tata Investment Corporation has appointed independent director Bahram Vakil, 67, as vice chairman. Vakil, who joined the board in March 2025, succeeds FN Subedar, 71, who retired in Sept 2025 upon reaching the company’s mandatory retirement age of 70. Vakil, said to be close to Noel Tata, chairman of Tata Investment, is the co-founder of law firm AZB & Partners. His elevation as vice chairman, say Tata Group watchers, is seen as a sign of Noel’s growing influence within the salt-to-software conglomerate. Vakil previously served on the boards of Trent and Voltas, companies where Noel has been chairman for many years. Subedar, meanwhile, has been appointed as a consultant at Tata Trusts, which is also chaired by Noel. Almost debt-free and profit-making, Tata Investment is one of the listed Tata entities that holds a direct stake in Tata Group’s holding company, Tata Sons. In July 2025, Vakil was reported to be under consideration for the board of Tata Sons. Over the last year, Tata Investment’s stock price saw volatility: it rose sharply before falling between Sept 2025 and Jan 2026, touching a 52-week high of Rs 1,184 on Oct 3, 2025. However, on a point-to-point basis, the stock hasn’t moved significantly. From trading around Rs 615 last March, it closed at Rs 610 on Thursday.