Mumbai, Nov. 22: The board of directors at Tata Sons, the apex holding company of the Tata group, will meet on Wednesday and is expected to take several important decisions, including the possible choice of a successor to group chairman Ratan Tata.

Sources said the wraps had been thrown over Wednesday’s meeting. The discreet silence has stirred a buzz of anticipation among those who have got wind of the meeting that some far-reaching decisions could be taken.

A spokesperson refused to respond to related questions.

These decisions could include the induction of new incumbents to the Tata Sons’ board and offer some clarity on Ratan Tata’s succession plan.

Last year, a five-member committee was formed to pick the new leader for the group. The committee is made up by former Tata Sons vice-chairman Noshir A. Soonawala; Tata Sons director R.K. Krishna Kumar; Cyrus Mistry, younger son of Pallonji Mistry, the largest single shareholder in the Tata group’s holding company; Lord Bhattacharya, founder of UK-based Warwick Manufacturing; and Tata group lawyer Shirin Bharucha.

Ratan Tata is expected to step down at the end of 2012, when he turns 75. While a clear-cut decision is unlikely to be made public tomorrow, there may be “some hints” about the progress that the committee has made so far.

For over two years, it has been speculated that three Tata group shoguns — Ravi Kant of Tata Motors, S. Ramadorai of Tata Consultancy Services and B. Muthuraman of Tata Steel (all of whom have relinquished their positions as CEOs and become vice-chairmen of the operating companies after turning 65) — are in the running for board positions at Tata Sons.

On Wednesday, the Tata Sons board is likely to consider these names to fill vacancies that have arisen with the retirement of four board members — vice-chairman Noshir Soonawala, J.J. Irani, Shyamal Gupta and Alan Rosling.

If the Tata Sons board clears these appointments, the three top officials of the group will be able to serve only till 2015.

Last year, the committee formed to pick Ratan Tata’s successor had formulated a policy under which the retirement age for non-executive directors in the group has been lowered to 70 from 75 years. “It will be an interim arrangement till the new successor is firmly in the saddle,” said a source.

However, Tata group insiders and those who closely watch the $71-billion conglomerate will be looking keenly for clues that could provide some clarity on the succession policy at the group.

There have been several conjectures about the Tata group succession plan. Noel Tata, stepbrother of Ratan Tata, is one of the front runners in the race.

However, some Tata group observers say Ratan Tata will continue to wield control over the trusts and charities that together own 66 per cent of Tata Sons and play a pivotal role in deciding the future of the group, which has over 100 operational entities.

It has also been speculated that the Tata group may opt for a dual structure at the helm with Noel Tata as chairman and a top Tata official — such as Tata Sons’ finance director Ishaat Hussain — as the second-in-command.