Mumbai, India – Tata Trusts has issued a strong denial against allegations surrounding a 1989 share transfer from the Navajbai Ratan Tata Trust (NRTT) to the late Naval H. Tata, calling the claims "baseless, unsubstantiated, and malafide." The prominent philanthropic institution announced its intention to pursue legal action against those making these accusations, asserting the transaction was entirely lawful and compliant with all regulations in effect at the time.
Transaction Deemed Fully Lawful
In a detailed statement, Tata Trusts clarified that the share transfer was undertaken for due consideration and received approval through all necessary legal and corporate channels. The Trusts highlighted that the transaction was reviewed and cleared by the eminent jurist Nani A. Palkhivala. Furthermore, it received the explicit approval of the then-board of Tata Sons and was executed via a valid transfer form, duly stamped by the Registrar of Companies.
"The Tata Trusts would like to state that any suggestion of impropriety on the part of either the Sir Ratan Tata Trust (SRTT), NRTT, or any of the parties to the transaction, is categorically denied," the statement read.
The Trusts emphasized that any insinuation of impropriety by the Sir Ratan Tata Trust (SRTT), NRTT, or any involved parties is unequivocally false.
Allegations Part of an Orchestrated Campaign
Tata Trusts further alleged that the accusations are part of a deliberate and "wilful, malicious and orchestrated campaign" aimed at damaging the reputation of the Tata philanthropic institutions and members of the Tata family. This campaign, they claim, seeks to tarnish the legacy of the late Naval H. Tata and his sons, including the late Ratan N. Tata, as well as Jimmy Tata and Noel Tata.
The controversy stems from allegations raised by petitioner Suresh Tulsiram Patilkhede, whom the Trusts described as a "serial litigator." They noted that Patilkhede had previously filed multiple cases against Tata Trusts in 2020, which they believe were intended to disrupt the Trusts' functioning and philanthropic activities.
Bombay High Court Observations
The Trusts also referenced observations made by the Bombay High Court concerning a recent writ petition filed by Patilkhede against the Sir Ratan Tata Trust. According to Tata Trusts, the court expressed concern over the petition's filing manner, noting that representations appeared to be made by unidentified third parties whose details were not disclosed. The petition was subsequently withdrawn with the court's permission.
Reiterating its commitment to its more than 130-year legacy of public trust, accountability, and ethical conduct, Tata Trusts stated it "categorically refutes" the allegations and will pursue all appropriate legal remedies to safeguard its goodwill and reputation. The Trusts remain among India's largest philanthropic organizations, actively supporting initiatives across healthcare, education, rural development, livelihoods, and social welfare.