Mehli Mistry Resigns from Tata Trusts, Citing Commitment to Ratan Tata's Vision

Businessman Mehli Mistry, a close associate of Ratan Tata, has stepped down as a trustee of Tata Trusts, ending weeks of speculation. In a letter to Chairman Noel Tata, Mistry stated his decision was driven by a commitment to Ratan Tatas vision, aiming to prevent the Trusts from being drawn into disputes that could harm their legacy.

Mistrys tenure officially concluded on 27 October, despite a board resolution on 17 October 2024 proposing his reappointment as a lifetime trustee. This proposal failed to materialise due to three trustees, including Noel Tata, Venu Srinivasan of TVS Motors, and former Defence Secretary Vijay Singh, withholding approval for his continuation in the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. Conversely, former Citybank India CEO Pramit Jhaveri, Mumbai lawyer Das Khata, and Pune-based philanthropist Jahangir HC Jahangir had supported his reappointment.

This exit marks a significant moment amidst broader discussions concerning governance within the Tata Group. The Trusts decisions are intrinsically linked to Tata Sons strategic efforts to avoid a public listing, a move largely intended to preserve control, maintain philanthropic independence, and manage significant shareholder stakes like that of Shapoorji Pallonji privately. Mistry’s departure is framed as an effort to avoid public confrontation, aligning with these overarching corporate strategies.