Business
Khambata declines new Tata Trusts term after 4:1 vote
The Hindu BusinessLine·
Darius Khambata declined another term as trustee of Sir Ratan Tata Trust and Sir Dorabji Tata Trust. In a Monday letter to Noel Tata he said the September 17, 2026 Tata Sons meeting sullied its reputation. The board approved a third term for Chairman N Chandrasekaran by a 4:1 vote. Noel Tata was the sole dissenter and has kept objecting.
Prism
What It Means For You
- The two trusts are the principal shareholders of Tata Sons.
- Khambata's exit follows open disagreement over Chandrasekaran's third term.
- Noel Tata last week sought records of the September 17 meeting from the company secretary.
What's Happening
- Khambata called September 17 "a day that will live in infamy" in his letter.
- He also criticised fellow trustees Venu Srinivasan and Vijay Singh in the four-page note.
- The letter went to Noel Tata and Tata Trusts CEO Siddharth Sharma.
Why the trusts matter
- Sir Ratan Tata Trust and Sir Dorabji Tata Trust control key voting power at Tata Sons.
- Chandrasekaran's reappointment split the holding-company board 4:1.
- Khambata is a senior Supreme Court lawyer who had served as a Tata Trusts board member.
all-news