Tata Trusts vice chairman seeks inquiry into 1989 share transfer

Key facts

• Tata Trusts vice chairman Vijay Singh has formally requested an independent inquiry into a 1989 transfer of Tata Sons shares.
• The request follows allegations that the transaction involved the illegal diversion of public charitable assets into private hands.
• Concerns have been raised about a potential conflict of interest involving Tata Trusts chairman Noel Tata, who is a successor-in-interest to Naval Tata.
• The Tata Trusts have categorically denied any impropriety, describing the accusations as a malicious campaign.

Tata Trusts vice chairman Vijay Singh has formally requested an independent inquiry into a 1989 transfer of Tata Sons shares from the Navajbai Ratan Tata Trust to the late industrialist Naval Tata. Singh's June 10 letter to the Maharashtra charity commissioner seeks to restore public confidence and credibility in the administration of the Tata Trusts.

The request follows a legal notice alleging that the transaction constituted an illegal alienation of public charitable assets, diverting them into private hands. The notice questioned the transfer's necessity, supporting documentation, and whether adequate consideration was received based on an independent valuation.

This development is linked to a previous complaint by Suresh Tulsiram Patilkhede, who has also raised concerns about an alleged conflict of interest involving Tata Trusts chairman Noel Tata. As a successor-in-interest to Naval Tata, Noel Tata's involvement in deliberations concerning the matter is questioned.

Singh stated in his letter that Noel Tata, being a direct beneficiary of the share transfer, creates a conflict-of-interest situation. He emphasized the need for an independent inquiry into the legality and propriety of the share transfer to establish the factual position conclusively.

The Tata Trusts have denied all allegations, characterizing them as part of a "wilful, malicious and orchestrated campaign" to discredit the institution. They stated their intention to pursue appropriate legal remedies to protect their reputation and goodwill.