The Maharashtra Charity Commissioner has closed a complaint seeking an inquiry into the 1989 transfer of 833 Tata Sons shares from the Navajbai Ratan Tata Trust to Naval H. Tata.
Highlights
- The Maharashtra Charity Commissioner closed the complaint seeking an inquiry into the 1989 transfer of Tata Sons shares.
- The case involved 833 Tata Sons shares transferred from the Navajbai Ratan Tata Trust (NRTT) to Naval H. Tata.
- NRTT trustee Vijay Singh filed the complaint on June 10, 2026, seeking an independent inquiry.
The Maharashtra Charity Commissioner has closed a complaint seeking an inquiry into the 1989 transfer of 833 shares of Tata Sons from the Navajbai Ratan Tata Trust (NRTT) to the late Naval H. Tata, Tata Trusts said in a statement on Thursday.
The order, dated September 2, followed a complaint filed on June 10 by Vijay Singh, a trustee of NRTT. Singh had sought an independent inquiry into the nearly four-decade-old transfer of shares to Naval Tata, father of current Tata Trusts chairman Noel Tata.
According to Tata Trusts, the Charity Commissioner examined the complaint, the Trust’s response and supporting documents and concluded that no further inquiry under the Maharashtra Public Trusts Act, 1950, was warranted.
The Commissioner found that the sale was necessitated by statutory requirements and that the share transfer was supported by proper documentation, according to the statement.
The consideration paid to the Trust was based on a valuation agreed by the Commissioner of Wealth Tax. Tata Trusts said the Trust made a profit from the transaction, which was reflected in its balance sheet as of March 31, 1989.
The order also found that the shares were transferred subject to a condition that they would not be sold to a third party and would remain within the recipient’s family.
According to Tata Trusts, the Commissioner concluded that the transaction complied with the applicable law at the time.
The dispute resurfaced this year following allegations that shares held by a public charitable trust had been transferred to Naval Tata in his personal capacity without adequate consideration, trustee approval or required documentation. Tata Trusts denied those allegations.
The Charity Commissioner also criticised Singh’s conduct, according to Tata Trusts. The order said his decision not to make his June 10 email complaint available to the Trust indicated an intention to withhold it from other trustees and the Trust as a whole.
The wider matter is significant because Tata philanthropic trusts collectively own about two-thirds of Tata Sons. The Sir Ratan Tata Trust and Sir Dorabji Tata Trust together hold about 51.5 per cent of Tata Sons.
