October 28, 2025

Big fireworks are set for Monday at the Tata Trusts! The reappointment of trustee Mehli Mistry, whose term ends on October 28, is the hot topic. Tata Trusts chairman Noel Tata, vice chairman Venu Srinivasan, and trustee Vijay Singh are said to be unlikely to approve his return, sources close to the matter told Economic Times. Mehli Mistry has been a trustee since 2022 for the powerful Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust (SRTT), which together own 51% of Tata Sons, the mighty group’s holding company. On Friday, Siddharth Sharma, CEO of Tata Trusts, pushed a resolution to renew Mistry’s term, getting nods from trustees Darius Khambata, Pramit Jhaveri, and Jehangir HC Jehangir. But the opposition from Noel Tata and others could spark legal battles. Mistry is seen as being against Noel Tata and other board members like Venu Srinivasan and earlier Vijay Singh. Traditionally, all decisions in Tata Trusts were unanimous. The rules suddenly broke in September last year when they voted by majority to remove Vijay Singh, stirring nationwide buzz about inside fights among India’s top public trusts. The rules are a bit foggy now: Can a trustee’s term be renewed by majority or must every trustee agree? The matter is tricky because trusts operate under special laws like the Maharashtra Public Trusts Act, trust deeds, and internal resolutions, unlike companies governed by clear laws. The Sir Dorabji Tata Trust deed from 1932 says decisions by the majority of trustees present will be binding, but a crucial 2020 resolution promises lifetime reappointments for trustees when their terms end. It says they "will be reappointed by the concerned trust without any limit being attached to the period of tenure of such reappointment." But it does not clarify how these reappointments must be approved. The plot thickened last week when Mistry gave a conditional yes to Venu Srinivasan’s reappointment, demanding his own term be renewed on the same terms. His email said, "For the avoidance of doubt, should any trustee elect not to pass this resolution reappointing Venu Srinivasan... then in such event, I do not provide my formal approval for the reappointment of Venu Srinivasan. Needless to say, I do not expect such a situation to arise." A source revealed, "There is an internal debate on whether Mistry might call off his approval for Srinivasan and even legally contest the decision by the three trustees to not to renew his term." Noel Tata, Srinivasan, and Singh have reportedly asked legal experts for advice. Some insiders, however, say Mistry’s conditional approval is shaky. One trustee said, "A conditional approval is not legally tenable. One cannot approve a resolution and then withdraw it once passed." Legal expert Ashish K Singh of Capstone Legal explained, "Conditional approvals could only be valid if expressly provided for in the Trust's bye-laws. Moreover, when a personal interest is involved when giving conditional approval, it is generally considered to be unenforceable in the eyes of law." Who is Mehli Mistry? He runs the M Pallonji Group with businesses in painting, shipping, dredging, and car sales. Some Tata companies are clients or partners of his ventures. Sterling Motors, part of his group, is a Tata Motors dealer. His group’s website shows Tata Steel, Tata Power, and Tata Nyk Shipping as associates. He is also a trustee of the Breach Candy Hospital Trust, which has received Rs 500 crore from the Tata group to upgrade its facilities. Interestingly, Mistry is related but estranged from Shapoorji Mistry and the late Cyrus Mistry, former Tata Sons chairman. Shapoorji Pallonji Group, the second biggest shareholder in Tata Sons with 18.37%, wants Tata Sons to go public to get cash and clear debts. The big Tata Trusts drama is just heating up! Will Mehli Mistry get a second term or will this battle change the rules forever? Monday’s meeting could shake India’s top business house to its core!

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Tags: Tata trusts, Mehli mistry, Trustee reappointment, Tata sons, Legal dispute, Venu srinivasan,