For the third successive time, the Mumbai Charity Commissioner has to postpone the hearing on case filed by Mehli Mistry. Tatas yet again failed to file the reply seeking more than one and half month time to reply on the legal queries raised by Mistry.
The Mumbai Charity Commissioner has adjourned the hearing on a complaint filed by Mehli Mistry against Tata Trusts to September 8, after lawyers representing the Trusts sought at least six weeks to file their rejoinder.
Times Now Digital has reached out to Tatas to understand their point of view over the matter. There was no response till the time of filing the report. The story will be updated as and when we get any response.
The complaint, listed for hearing on Monday, pertains to Mistry’s challenge to a change report filed by Tata Trusts. The change report, which records Mistry’s cessation as a trustee, will also be heard by the Charity Commissioner on September 8.
Separately, the Charity Commissioner is scheduled to hear Tata Trusts on August 7 regarding the change report related to the Trusts’ assets.
Earlier, the commissioner’s office sought a detailed explanation from Noel Tata, chairman of Tata Trusts and trustee of the Navajbai Ratan Tata Trust (NRTT), on allegations related to the 1989 transfer of 833 Tata Sons shares from the trust to the late Naval H Tata.
The Tata Sons‘ Annual General Meeting (AGM) scheduled in August could face a procedural challenge as now the spotlight is on the quorum clause amid the existing Tata Trusts dispute. Apart from other issues, the AGM is also set to focus on the reappointment of Tata Sons Chairman.
Sir Ratan Tata Trust has been barred from conducting board meetings by the Maharashtra Charity Commissioner. This has added to concerns about the Trust being able to take part in crucial decisions altogether. The quorum requirement at the AGM could also be an issue if shareholder representation from the Sir Ratan Tata Trust is affected.
This is one of several issues that have cropped up in the past few months regarding questions of governance at India’s largest conglomerate, which is also seeking to arrive at a decision on future leadership.
Earlier, Tata Trusts had strongly refuted allegations surrounding a 1989 share transfer by the Navajbai Ratan Tata Trust (NRTT) to the late Naval H. Tata, describing the claims as “baseless, unsubstantiated and malafide” and asserting that the transaction was lawful and fully compliant with the regulations in force at the time.
The present complaint, dated June 4, alleges that the transfer took place on January 18, 1989, a week after Naval Tata had resigned as a trustee of the Navajbai Ratan Tata Trust.
Maharashtra charity commissioner in May directed the Tata Trusts board of trustees to defer its scheduled meeting on Saturday, pending an inquiry into alleged violations of the Maharashtra Public Trusts Act.