Mehli Mistry 'Parts Ways' From Tata Trusts With A Letter To Noel Tata

Noel Tata, the half-brother of the late Ratan Tata, is one of the topmost figures within the Tata Group. (Source: NDTV Profit)

Mehli Mistry, ousted from Tata Trusts following an internal rift, has written a letter to Noel Tata, wherein he recalled a commitment he made to the trusts' late former chairman, Ratan Tata, sources said.

Mistry stated that his commitment to Ratan Tata includes the responsibility to precipitate no controversy, according to the details of the letter accessed by NDTV Profit.

"My commitment to Mr. Ratan N Tata's vision includes a responsibility to ensure that the Tata Trusts are not plunged into controversy. I believe that precipitating matters would cause irreparable harm to the reputation of the Tata Trusts," he wrote.

According to Mistry, his letter to Noel Tata, the incumbent chairman of Tata Trusts, should assist in "putting the quietus on speculative news reports" that do not serve the interests of the Tata Trusts and are inimical to its vision.

Mistry noted that during his tenure at the Tata Trusts, he was guided by Ratan Tata's vision of "ethical governance, quiet philanthropy and utmost integrity". He expressed hope that other trustees, going forward, will be guided by the principles of "transparency, good governance, and public interest."

Mistry ended the letter stating “I part ways”, and quoted Ratan Tata to underline that “nobody is bigger than the institution it serves.”

Senior Supreme Court advocate HP Ranina, while speaking to NDTV Profit on Mistry's letter to Noel Tata, said, "My view is that Mehli Mistry is a very gracious man, with interest of the Tatas at heart."

Tata Trusts, notably, owns 65.9% stake in Tata Sons, which is the holding entity of the salt-to-software conglomerate.

Earlier, on Monday, sources told NDTV Profit that Mistry has filed a caveat with the Maharashtra Charity Commissioner for his right to be heard before his ouster from Tata Trusts is sanctioned. According to the rules, Tata Trusts needs to make changes to the board sanctioned by the Charity Commissioner in 90 days.

Mistry's ouster from Tata Trusts was reported last week, as sources said that Venu Srinivasan, Noel Tata and Vijay Singh had rejected the renewal for his life trusteeship.