Tata Trusts Sidesteps Tata Sons Row In 'Cordial' Board Meet: Sources
The meeting was business as usual, centred around the charitable activities of Tata Trusts.
The much-anticipated meeting of Tata Trusts on Friday was "cordial", with no consequence on Tata Sons-related issues, NDTV Profit learnt from sources.
The meeting was business as usual, centred around the charitable activities of the Trusts. The development comes after NDTV Profit was the first to report about the softening of stance by Mehli Mistri over the dispute on board seat at Tata Sons.
Tata Trusts, notably, holds around 66% stake in Tata Sons, which is the holding entity of the salt-to-software conglomerate.
Earlier this week, Tata Trusts leaders dialed the government as internal tensions widened. Amid escalating discord among trustees, the Centre had taken cognisance of the rift and advised Tata Trusts to maintain institutional stability and resolve differences internally, persons privy to the development had said.
During the hour-long meeting on Tuesday evening, four senior Tata Group leaders —Noel Tata, Venu Srinivasan, N. Chandrasekaran, and Darius Khambata — briefed top Cabinet ministers on the internal discord. The meeting followed a request by two trustees seeking government intervention to mediate the ongoing rift. "The conduct of one trustee was also discussed, with participants advised firm corrective action to preserve the Trusts’ credibility and balance of power," a source privy to the discussion had said.
The rift, which has divided Tata Trusts into two camps, came to the fore following a stormy board meeting in September. It was sparked by infighting among trustees over board appointments, information sharing and Tata Sons' long-pending listing obligations.
The Noel Tata camp — comprising Noel Tata, Venu Srinivasan, and Vijay Singh (a former nominee director of Tata Sons) — is said to be pushing for continuity and due process before any governance changes are made. The opposing faction, led by Mehli Mistry, includes Pramit Jhaveri, Jehangir Jehangir, and Darius Khambata. This group had opposed the reappointment of Vijay Singh and pushed for new nominee directors, triggering a 3-versus-4 split among the trustees.
For the government, the infighting at Tata Trusts isn’t just a boardroom dispute, it’s a matter of systemic importance. Tata Sons sits at the heart of India’s economy, with deep exposure across banking, steel, aviation, automobiles, and technology.
