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 nearly four-decade-old Tata Sons share transfer.
- The case involved 833 Tata Sons shares transferred from the Navajbai Ratan Tata Trust (NRTT) to Naval H. Tata in 1989.
- The complaint was filed on June 10, 2026, by NRTT trustee Vijay Singh.
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 (NRTT) to the late Naval H. Tata, Tata Trusts said on Thursday.
The order, dated September 2, came after 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 transaction involving 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 before concluding 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 was supported by proper documentation, the statement said.
Tata Trusts said the consideration paid was based on a valuation agreed by the Commissioner of Wealth Tax. It added that 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 on the 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 transfer complied with the applicable law at the time.
The dispute had resurfaced this year following allegations that shares held by a public charitable trust were transferred to Naval Tata in his personal capacity without adequate consideration, trustee approval or required documentation. Tata Trusts had denied those allegations.
Tata Trusts said the Commissioner’s findings vindicated its position that the allegations concerning the transfer were “baseless, unsubstantiated and malafide.”
The wider governance of Tata Sons remains significant because philanthropic trusts linked to the Tata family collectively own about two-thirds of the holding company. The Sir Ratan Tata Trust and Sir Dorabji Tata Trust together hold about 51.5 per cent of Tata Sons.
