Noel, 2 others vote out Mehli from Tata Trusts

Late Ratan Tata's associate to step down from two core trusts

- DEV CHATTERJEE

In an unprecedented development, a trustee at Tata Trusts has been voted out. Three trustees — Tata Trusts Chairman Noel Tata, industrialist Venu Srinivasan, and former bureaucrat Vijay Singh — on Tuesday voted against the reappointment of Mehli Mistry, effectively blocking his continuation as a trustee, sources said.

As Tata Trusts is the largest shareholder, at 66 per cent, in Tata Sons — the parent company of the salt-to-semiconductor conglomerate — the escalated rift among the trustees is under the spotlight.

With the latest move, three of six trustees opposed the renomination of Mistry, whose three-year term ended on October 28. Mistry will have to step down from the boards of two core trusts — Sir Dorabji Tata Trust and Sir Ratan Tata Trust. The two core trusts together hold 51 per cent in Tata Sons.