A meeting of the Sir Dorabji Tata Trust held on Monday reportedly bypassed a significant petition seeking an inquiry into a 1989 share transfer. Sources indicate the meeting focused solely on routine business, including annual accounts and key trust initiatives, deliberately avoiding the controversial matter.
Petition Regarding 1989 Tata Sons Share Transfer
The petition, filed before the Maharashtra Charity Commissioner, calls for an investigation into the transfer of 833 Tata Sons shares. These shares were moved from the Navajbai Ratan Tata Trust to the late Naval H Tata, father of the current Tata Trusts chairman Noel Tata, in 1989.
The complainant alleges that this transfer lacked legal necessity, valid documentation, and proper consideration. Furthermore, concerns were raised about a potential conflict of interest involving Noel Tata, suggesting he should recuse himself from any deliberations on the issue due to his familial connection as a successor-in-interest to Naval Tata.
Tata Trusts Denies Allegations
In response to the accusations, Tata Trusts has vehemently rejected the claims, labeling them as baseless, unsubstantiated, and mala fide. The trusts assert that the 1989 transaction was entirely lawful and fully compliant with all prevailing regulations at the time.
The organization described the allegations as part of a malicious campaign aimed at discrediting an institution with a philanthropic legacy spanning over 130 years. The petitioner involved in this case has also been identified as a serial litigator, having had a recent petition withdrawn by the Bombay High Court due to concerns regarding its institution.
Related Legal Developments
In a related development in May, the Charity Commissioner had issued an order restraining the Sir Ratan Tata Trust from holding meetings or making decisions. This order was issued pending an inquiry into alleged violations concerning trustee composition and adherence to the Maharashtra Public Trusts Act. However, it was later clarified that this order applied exclusively to the Sir Ratan Tata Trust, allowing the Sir Dorabji Tata Trust meeting to proceed with its scheduled agenda, albeit without addressing the contentious share transfer petition.