Tata Trusts yet to finalise Mehli Mistry reappointment, term ends Tuesday

Mehli Mistry’s term as a Trustee at Tata Trusts concludes on October 28, and the formal process to extend his tenure is still in progress, sources told CNBC-TV18.

Mistry, considered a close associate of Tata Sons Chairman Emeritus Ratan Tata, joined the Board of Tata Trusts in 2022 after the restructuring of the organisation's leadership.

People familiar with internal deliberations said that Tata Trusts last week initiated a circular resolution seeking unanimous approval from all trustees to re-appoint Mistry for another term. This procedure is required under the governance rules of the Trusts, which collectively hold a majority stake in Tata Sons, the holding company of the Tata Group.

While some trustees have already conveyed their responses, a few others are yet to submit their views, the sources said. The voting process will continue until Tuesday, as the Board works to avoid a temporary vacancy on the Trusts' governing body.