Mehli Mistry signals decision to move on from Tata Trusts’ controversy

Mr. Mehli Mistry, former trustee of Tata Trusts who was voted out by a majority of trustees last week, has signalled his decision to move on from the controversy.

In a letter to the Chair of the Sir Ratan Tata Trust, Sir Dorabji Tata Trust and Bhai Hirabai JN Tata Navsari Charitable Institution Trust, which is with businessline, Mr. Mistry said that he is writing to “put the quietus on speculative news reports that do not serve the interests of the Tata Trusts and are inimical to its vision”.

Stating that his commitment to Mr. Ratan Tata’s vision includes “a responsibility to ensure that the Tata Trusts are not plunged into controversy”, Mr. Mistry wrote that “precipitating matters would cause irreparable harm to the reputation of the Tata Trusts”.

Public interest

According to Mr. Mistry, Mr. Ratan Tata always put public interest before his own. In discharging his duties as a trustee, Mistry said that he was guided by “his (Tata) vision of ethical governance, quiet philanthropy and utmost integrity”.

Hoping that the actions of the other trustees, going forward, will be guided by the “principles of transparency, good governance, and the public interest”, Mr. Mistry ended with a quote from Mr. Ratan Tata that nobody is bigger than the institution.

There was no response from Mr. Mistry and the office of Noel Tata to businessline emails seeking clarification.

The rift

Since the death of Mr. Ratan Tata last year, trustees on the board of Tata Trusts, which owns two-thirds of Tata Sons, have been at odds internally, primarily over board representations and control of the holding company.

It led to a showdown last week when Mr. Mistry, whose term as a trustee ended on October 28, was voted out by a majority led by Mr. Noel Tata.

Mr. Mistry was a close friend and confidante of Mr. Ratan Tata and one of the executors of his will.

(The writers are with The Hindu businessline)