Mehli Mistry, a close confidant of the late Ratan Tata, may be on his way out of the Tata Trusts board after chairman Noel Tata, vice chairman Venu Srinivasan, and trustee Vijay Singh reportedly withheld their approval for his reappointment.
According to reports on October 28, at least three trustees opposed renewing Mistry’s term, making his continuation unlikely.
The report, first cited by CNBC-TV18, indicates a rare internal disagreement within Tata Trusts, which holds a majority stake in Tata Sons, the holding company of the Tata Group.
Moneycontrol was unable to independently verify these claims.
Unanimous Approval Rule in Focus
Under the Tata Trusts’ governance framework, a trustee’s reappointment requires unanimous approval from all board members.
A single dissenting vote is enough to block the reappointment process — a rule that now appears to have been invoked in Mistry’s case.
Mistry joined the Tata Trusts board in 2022 as part of a broader leadership restructuring aimed at strengthening governance and aligning the Trusts’ operations more closely with the group’s philanthropic and strategic objectives.
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Mistry’s Association and Background
A long-time associate of Ratan Tata, Mehli Mistry’s appointment had symbolized continuity and experience in the Trusts’ leadership.
His deep business ties with the Shapoorji Pallonji (SP) family, however, have remained under public scrutiny for years.
The relationship between the Tata Group and the SP Group turned strained after the 2016 ouster of Cyrus Mistry—an SP family member—from his position as Tata Sons chairman, leading to a long and high-profile corporate dispute.
About Tata Trusts
Tata Trusts serves as the umbrella organisation overseeing several key charitable entities, including the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust.
The Trusts collectively own a 66% stake in Tata Sons, which controls the 156-year-old Tata Group — a conglomerate with around 400 companies, including 30 listed firms across sectors.
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