Future of Tata Trusts troubled Ratan Tata the most, say his sisters

Sisters of the late industrialist Ratan Tata have voiced distress over the turmoil at Tata Trusts, describing last week's removal of Mehli Mistry as a retaliatory action by other trustees.

- Satish John [e-mail]

In their first media interview, Shireen Jejeebhoy, 73, and Deanna Jejeebhoy, 72, discussed their relationship with their late brother, and their concerns about the current state and future of the Tata Trusts.

“Ratan had many troubles over the last few years. But the future of the Trusts was what troubled him the most. He sometimes talked to us in confidence and expressed his concerns over the future of the Trusts,” Shireen said at their Setti Minar bungalow in South Mumbai's Peddar Road.

Mistry, a confidant of Tata, ceased to be a trustee last week, after three trustees—Noel Tata, Venu Srinivasan and Vijay Singh—did not approve a renewal of his term.

While three others - Pramit Jhaveri, Darius Khambata and Jehangir H.C. Jehangir - backed him, that fell short of the unanimity which is required to approve all Trusts decisions.

His memory and legacy, along with the Tata values he cherished, seem to be under threat,” the younger sister said.

Tata, who studied architecture at Cornell University, had helped design the bungalow, a cherished symbol of his legacy.

The other legacies, including their brother's Trusts and those established by earlier Tata forefathers, are now uncertain, they said over a two-hour interview.

According to Deanna, their brother had implicit trust in three individuals: Mehli Mistry, Tata Sons chairperson Natarajan Chandrasekaran and Mumbai-based lawyer and trustee of Tata Trusts, Darius Khambata.