Ratan Tata’s longtime associate and businessman Mehli Mistry has resigned as a trustee from three key Tata Trusts, signalling a major shake-up in the powerful philanthropic arm that controls the Tata Group’s holding company.
Ratan Tata’s close associate and businessman Mehli Mistry has stepped down as a trustee from three key Tata Trusts — the Sir Ratan Tata Trust, Sir Dorabji Tata Trust, and the Bai Hirabai JN Tata Navsari Charitable Institution Trust — marking a major shake-up in the conglomerate’s powerful philanthropic arm.
According to sources cited by CNBC-TV18, Mistry informed Tata Trusts Chairman Noel Tata of his decision in a letter, saying it had been his “privilege to serve as a trustee till October 28,” but he now wished to step aside to “end speculative media reports” about his position.
Mistry also reportedly cautioned that “the precipitation of recent matters could cause irreparable damage to the Tata Group,” urging restraint and careful handling of internal differences.
Power struggle within Tata Trusts
The development comes amid signs of division within Tata Trusts, which holds a 66 per ce nt stake in Tata Sons, the holding company of the $350 billion Tata Group. Mistry’s exit follows a split among trustees over his reappointment — Venu Srinivasan (Chairman Emeritus, TVS Motor Co) and former Defence Secretary Vijay Singh voted against it, while Pramit Jhaveri, Darius Khambata, and Jehangir HC Jehangir, considered close to Mistry, backed his continuation.
Noel Tata and Mehli Mistry are seen as leading two opposing camps within the Trusts. Tensions escalated in September when Mistry and three trustees voted to remove Vijay Singh as Tata Trusts’ representative on the Tata Sons board.
Dispute over trustee tenures
A joint meeting of the Sir Dorabji Tata Trust and Sir Ratan Tata Trust on October 17, 2024, resolved that trustees would be reappointed for life unless they reached the age of 75. However, disagreements emerged over whether such renewals required unanimous approval or were automatic.
According to the resolution, any trustee voting otherwise would be “in breach of their commitment and not fit and proper to serve on Tata Trusts.” The document also noted that such breaches could trigger a review of earlier decisions — including Noel Tata’s appointment to the Tata Sons board.
Broader implications
Mistry’s resignation highlights ongoing tensions in the governance of Tata Trusts — the umbrella body that oversees multiple charitable entities founded by the Tata family. With its significant influence over Tata Sons, the Trusts play a key role in shaping the leadership and strategic direction of the 156-year-old conglomerate, which spans around 400 companies, including 30 listed entities.
With agency inputs.
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