The term of Mehli Mistry, a close confidant of former doyen Ratan Tata is expected to expire on October 28.
Mehli Mistry reappointment update: In a significant development amid the ongoing Tata Trusts legacy dispute, the reappointment of trustee Mehli Mistry stands at question as several media reports have indicated that Tata Trusts chairman Noel Tata as well as vice chairman Venu Srinivasan and Vijay Singh are unlikely to approve his reappointment. For a background, Tata Trusts had earlier circulated a proposal to reappoint Mehli Mistry as a trustee for life last week. Here are all the details you need to know about Mehli Mistry’s term extension as a Tata Trusts trustee.
Will Mehli Mistry be reappointed as trustee?
Mehli Mistry, whose term ends on October 28, a close confidant of former doyen Ratan Tata, was first appointed to Tata Trusts in 2022. The circular, issued by the CEO of Tata Trusts to other trustees on Thursday, sought Mistry’s reappointment to the Sir Ratan Tata Trust, Sir Dorabji Tata Trust and Bai Hirabai Jamsetji Tata Navsari Charitable Institution.
How is against Mehli Mistry’s reappointment?
However, in the recent development, the Economic Times has reported that the reappointment may not be approved by Noel Tata, Venu Srinivasan and Vijay Singh and the trustees might convey their decision soon.
Vertical split within Tata Trusts
As per media reports, there is a vertical split within Tata Trusts – with one faction said to align with Noel Tata, who took over as chairman following Ratan Tata’s death, and the other comprising those seen as loyalists of the former doyen.
The matter had reached the government with the top brass of the Tata group, including Tata Trusts Chairman Noel Tata and Tata Sons Chairman N Chandrasekaran, meeting Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman earlier this month.
