US EditionTata Trusts battle: Why Mehli Mistry, Ratan Tata’s close confidante, has been ousted
- On Tuesday, Noel Tata, Tata Trusts chairman, and two trustees blocked Mehli Mistry’s reappointment, widening a rift within Tata Trusts and breaking recent consensus norms.
- Noel Tata and Mehli Mistry are rival power centres in Tata Trusts, with tensions surfacing in September when Mistry and three trustees voted to remove Vijay Singh from Tata Sons' board.
- Three trustees—Pramit Jhaveri, Darius Khambata and Jehangir HC Jehangir—supported Mistry, while last week, Venu Srinivasan was made a lifelong trustee despite voting against him.
- Mehli Mistry is expected to challenge the decision, likely citing a joint meeting on October 17 last year that made all trustees permanent, while Tata Trusts declined to comment.
- Tata Trusts controls a majority stake in Tata Sons, so the trustee split has major governance implications following Noel Tata's appointment as head last year after Ratan Tata's death.
20 Articles
20 Articles
Mehli Mistry voted off Tata Trusts: The rise and exit of Ratan Tata’s trusted confidant
Mehli Mistry Tata Trusts, Noel Tata vs Mehli Mistry: Mehli Mistry avoids the social limelight, has never given interviews and shuns corporate flamboyance. Here's what you should know about the man known as the most trusted advisor of Ratan Tata.
Rift deepens at Tata Trusts as Noel Tata, two others block Mehli Mistry's reappointment as trustee
Rift in the philanthropic arm, Tata Trusts, the philanthropic arm of the Tata Group, has widened as Tata Trusts chairman Noel Tata and two other powerful trustees considered close to him blocked the reappointment of late Ratan Tata's close associate and businessman Mehli Mistry as trustee, deepening the rift at the philanthropic arm that controls the holding company of Tata Group. Noel Tata was appointed head of Tata Trusts following the death o…
Mehli Mistry set to exit Tata Trusts after trustees block reappointment
Mehli Mistry, who joined both trusts in 2022, has been regarded as a close associate of the late Ratan Tata. The Sir Dorabji Tata Trust and the Sir Ratan Tata Trust together hold the largest shareholding in Tata Sons and play a central role in board nominations and governance across the Tata Group.
Tata Trusts battle: Why Mehli Mistry, Ratan Tata’s close confidante, has been ousted
In the Tata Trusts dispute, Mehli Mistry has lost after Chairman Noel Tata, along with Venu Srinivasan and Vijay Singh, voted against his reappointment. Mistry, 65, has been a long-time confidante of Ratan Tata and was appointed as a trustee back in 2022. This move puts Noel Tata in the driver’s seat, but poses huge legal questions for the board
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