Darius Khambata declines reappointment to Tata Trusts citing RBI engagement failure
· Business · Indian Express, Times of India
Senior advocate Darius Khambata has declined reappointment as a trustee of Sir Dorabji Tata Trust and Sir Ratan Tata Trust, his term ending November 9, 2026. In a letter to Tata Trusts chairman Noel Tata, Khambata stated that discussions with the Reserve Bank of India failed to produce a convincing regulatory solution for Tata Sons' listing, which he called a "day that will live in infamy". His exit exposes deepening divisions within the Trusts over the future of Tata Sons, as Vijay Singh and Venu Srinivasan have been opposing Noel Tata's proposals. Earlier trustees including Noel Tata, Neville Tata and Bhaskar Bhat had defended the restructuring plan to avoid a stock market listing. Khambata also supported the September 11, 2025 decision that preserved the Trusts' veto rights for Noel Tata.
Why it matters
Khambata's departure weakens the position of Noel Tata within the Trusts as opposition to the Tata Sons listing intensifies, potentially altering the governance trajectory of the Tata group's key institutions during a critical transition period.
Read the original report — Indian Express
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