'Nobody is bigger than the institution it serves': Mehli Mistry confirms exit from Tata Trusts

Mehli Mistry has written to Tata Trusts Chairman Noel Tata, formally conveying his decision to step down as trustee of the Tata Trusts. In his letter, Mistry wrote, "I have been made aware of the recent reportage surrounding my trusteeship in the Tata Trusts. I believe that this letter should assist in putting the quietus on speculative news reports that do not serve the interests of the Tata Trusts and are inimical to its vision."

He added that it had been his privilege to serve as a trustee till October 28, while cautioning that "the precipitation of matters can cause irreparable damage to the Tata Group."

Mistry concluded his letter with a quote he attributed to Ratan N. Tata, writing, "Nobody is bigger than the institution it serves."

CNBC-TV18 had earlier reported, citing sources close to the Tata Group, that Mistry had written to Noel Tata expressing his desire to part ways and bring an end to speculative media reports around his trusteeship.

The Tata Trusts, which collectively hold a controlling stake in Tata Sons, form the cornerstone of the conglomerate’s governance structure. Mistry’s tenure as trustee ended on October 28, with no reappointment announced, marking his formal exit from the board.

The Tata Trusts board is set to meet on November 11, its first session since Mistry’s departure. Trustees expected to attend include Noel Tata, Venu Srinivasan, Vijay Singh, Pramit Javeri, Jehangir HC Jehangir, and Darius Khambata.

While the agenda for the meeting has not yet been circulated, internal communication regarding Mistry’s exit has been minimal, suggesting the proceedings are likely to remain procedural.

An October 2024 resolution reportedly stipulated that all trustees must be reappointed unanimously and for life.

The Tata Trusts Secretariat is expected to notify the Charity Commissioner of the board change within the statutory period. Although such intimations can take up to 90 days, most trusts complete them within 30 days to ensure compliance.