According to insiders, Chatterjee shares a good rapport in the group, as well as with bankers, thanks to the fact that he was instrumental in raising finances for Tata Steel's $12.1-billion Corus acquisition.
The industry is facing scarcity of raw material and steel import is on a rise.
New MD likely to be announced by December-end or first week of January.
The CAG report had alleged the government had passed on financial gains of Rs 1.86 lakh crore to private companies by not auctioning the coal blocks.
Jamshedpur plant is expanding its capacity at a cost of Rs. 20,000 crore.
Tata Steel is to form a committee to undertake a social audit of its Kalinganagar project in Orissa, in a bid to counter allegations on the negative impact of industrialisation.
Tata Steel's greenfield projects in Jharkhand, Orissa and Chhattisgarh have been delayed by about 12 to 16 months due to issues over land acquisition and resettlement, the company's executives said.
Tata Steel would make a bid for buying the Indian iron ore assets of one of Britain's largest independent steel trading companies Stemcor.
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