Mehli Mistry voted out of Tata Trusts

IN a dramatic shakeup within Tata Trusts, Mehli Mistry— once known as Ratan Tata’s closest confidant—has been voted out of the board, marking an abrupt end to his rapid rise in the $180-billion Tata conglomerate’s power structure.

- BENN KOCHUVEEDAN @Mumbai

A majority of trustees on Tuesday voted against Mistry’s reappointment, ending his first three-year term as trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. Together, these two cornerstone entities hold 52% of Tata Sons, the holding company of the Tata Group.