In a first sign of conciliation after months of strained relationship with the Tata Trusts Board, former trustee Mehli Mistry is said to have written to chairman Noel Tata offering a truce and “put an end quietus to speculative media reports”, according to reports by TV channels on Tuesday.
In his letter, Mistry — who was voted out of the Trusts through a majority — said it had been his privilege to serve as a trustee till his term ended on October 28. He added that his commitment to Ratan Tata includes the responsibility of no precipitation of controversy.
“I believe that precipitating matters would cause irreparable harm to the reputation of the Tata Trusts,” he added.
Mistry’s letter ended with the words “I part ways…” and quoted Ratan Tata stressing that nobody is bigger than the institution they serve.
The conciliatory note marks a shift after a tense spell at Tata Trusts, which holds 66% in Tata Sons, the holding company of the Tata Group. Mistry did not respond to queries sent by FE till press time.
On October 28, Mistry was voted out of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust when three of the five trustees opposed his reappointment. The two trusts together hold 66% in Tata Sons.
Considered one of Ratan Tata’s closest confidantes, Mistry joined the board in 2022. His exit followed weeks of friction within the Trusts — with Noel Tata, Venu Srinivasan and Vijay Singh on one side, and Mistry, Darius Khambata and Jehangir HC Jehangir on the other.
The discord centred on governance practices, lifetime trusteeships and board representation, exposing an unusual split over how the Trusts should exercise control and nominate directors to Tata Sons.
Tensions rose after Mistry opposed the appointment of former defence secretary Vijay Singh as a nominee director from the Trusts on the Tata Sons board. A fortnight later, TVS chairman emeritus Venu Srinivasan was reappointed as a lifetime trustee through a unanimous vote, in keeping with the October 2024 resolution that all existing members would be reappointed for life when their term ends.
A week after Srinivasan’s reappointment, a majority of trustees voted against Mistry’s return, resulting in his ouster.
Earlier reports said that Mistry had approached the Charity Commissioner of Maharashtra, the quasi-legal authority overseeing disputes on trustee appointments and removals.