The Maharashtra Charity Commissioner has dismissed a complaint seeking an inquiry into the transfer of 833 shares of Tata Sons Private Limited from Navajbai Ratan Tata Trust (NRTT) to Naval H. Tata in 1989, saying no further inquiry into the transaction is warranted.
The order, dated September 2, 2026, disposed of a complaint filed by Vijay Singh, a trustee of NRTT, on June 10. The complaint had sought an independent inquiry into the share transfer.
The Charity Commissioner conducted a detailed examination of the allegations and NRTT’s response, along with supporting documents, before closing the complaint, Tata Trusts said in a statement.
Tata Trusts rejects allegations as baseless
“The Tata Trusts stand vindicated in their assertion that the allegations relating to the transfer of shares were baseless, unsubstantiated and malafide. These were undertaken as part of a wilful, malicious and orchestrated campaign which had, as its sole aim, the objective of discrediting the Tata Trusts- an institution which has, for more than 130 years, served the country and consistently held itself to the highest standards of public trust, accountability and ethical conduct,” Tata Trusts said.
The Commissioner concluded that the sale of the shares was necessitated by statutory requirements and that the transfer was supported by proper documentation. The consideration paid to the trust was based on a valuation agreed upon by the Commissioner of Wealth Tax, and the trust earned a profit from the transaction. The profit was reflected in NRTT’s balance sheet as of March 31, 1989.
Share transfer found compliant with law
The order also noted that the shares were transferred subject to a condition that they would not be sold to any third party and would remain within the family of the recipient. The Commissioner held that the transfer complied with the law in force at the time.
The Commissioner further observed that Singh had not made his June 10 email complaint available to the trust, saying this indicated an intention to suppress it from the other trustees and the trust as a whole. The order said this conduct had damaged the reputation and goodwill of the trust and was “unbecoming of a Trustee of NRTT”.
The Commissioner also expressed surprise that Singh had participated in an NRTT board resolution on June 8 to represent the trust’s case before the Charity Commissioner, before filing his complaint two days later seeking an independent inquiry.