Business EconomyPosted at: Nov 3 2026 9:50PM


Khambata Declines Reappointment As Trustee Of Tata Trusts, Weakening Noel Tata Camp

Mumbai, Nov 3 (UNI) Senior advocate Darius J Khambata has declined to be reappointed as trustee of the Sir Dorabji Tata Trust (SDTT) and the Sir Ratan Tata Trust (SRTT) under Tata Trusts, citing concerns about the independence of trustees.
According to sources, Khambata's decision is understood to stem from the near impossibility of securing the unanimous consent required for his reappointment, since dissenter trustees Venu Srinivasan and Vijay Singh are expected to oppose another term for Khambata.
The Sir Dorabji Tata Trust (SDTT) has six trustees, including Darius Khambata. Tata Trusts Chairman Noel Tata's support has effectively narrowed to three, against the two dissenter trustees, namely Venu Srinivasan and Vijay Singh.
The appointments of Noel Tata's son Neville Tata and Bhaskar Bhat in November 2025, helped Noel retain his majority and maintain control of the Trust. In a letter written by Khambata dated November 2, to Tata Trusts Chairman Noel Tata and CEO Siddharth Sharma, Khambata stated that he has formally declined reappointment to both trusts, to which he was invited and appointed by the late Ratan Tata.
"I sincerely appreciate that both of you have expressed the wish that I continue. But as you know, I have always spoken candidly, albeit only within the Trusts. That independence comes at a cost," Khambata stated in his letter.
Khambata reiterated his opposition to the proposed listing of Tata Sons, adding that he had cautioned against it at the May 28, 2025, Tata Trusts meeting. "I was the first to caution against the potential listing of Tata Sons, calling it 'existential' for the Trusts," Khambata wrote, referring to a resolution he said was passed unanimously on July 28, 2025.
"Tata Sons must always be in sync with Tata Trusts," Khambata wrote. Khambata stated that a stock exchange listing of holding company Tata Sons is a strategic decision for its majority shareholders Tata Trusts, adding that the public had no legal or moral right to insist that a private company must list on the stock exchange.
Khambata's exit is a setback for Noel Tata, given the senior lawyer's support in managing dissent within Tata Trusts, at a time when several coordinated efforts are underway to capture the institution, according to sources.
Noel Tata also faces a separate hurdle because the Maharashtra Charity Commissioner is yet to allow the Sir Ratan Tata Trust (SRTT) under Tata Trusts, to convene a board meeting after Venu Srinivasan complained about irregularities and governance issues at Tata Trusts.
Without convening a board meeting, the Sir Ratan Tata Trust (SRTT) under Tata Trusts, cannot jointly nominate a representative with the Sir Dorabji Tata Trust (SDTT) for the Tata Sons annual general meeting (AGM), where the renewal of Tata Sons Chairman N Chandrasekaran's term will be considered.
Venu Srinivasan and Vijay Singh have also filed complaints regarding the Sir Dorabji Tata Trust (SDTT), including appointments of Tata TrustsChairman Noel Tata and his son Neville Tata. Tata Trusts Chairman Noel Tata and his son Neville Tata have filed caveats, which would ensure that the dispute could end up at the doorsteps of the courts.
Recently, Noel Tata wrote two letters to the Tata Sons board, asking it to consider the business reorganisation proposal put forward by Tata Trusts to avoid a listing the holding company Tata Sons. Tata Trusts Chairman Noel Tata also sought consideration of a partial exit for Shapoorji Pallonji Group, valued at Rs 25,000 crore.
Significantly, both these proposals are expected to come up at the next Tata Sons board meeting, scheduled for November 26, but the Tata Sons board is yet to respond to Noel Tata's letters.
Trustee Darius Khambata's exit does not change the balance of power within Tata Trusts, but it has removed an influential voice from Tata Trusts Chairman Noel Tata's camp, precisely when such a voice is direly needed, sources said. UNI XC CDS
Tags: #Khambata Declines Reappointment As Trustee Of Tata Trusts# Weakening Noel Tata Camp
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