Boardroom Battle at Tata Trusts: The Ousting of Mehli Mistry and the Empire’s Silent Storm

The Tata name has long symbolized trust, integrity, and philanthropy in India’s corporate history. Yet, beneath the calm façade of this century-old empire, a fierce power struggle is unfolding. The latest flashpoint — the ousting of Mehli Mistry, one of Ratan Tata’s closest confidants, from the Tata Trusts board — has sent shockwaves through India’s business and philanthropic circles.

Once considered a key pillar of the Tata Group’s inner circle, Mehli Mistry’s abrupt removal exposes deep fissures at the top of the Trusts that own around 66% of Tata Sons, the holding company of the $350 billion conglomerate.

Background: The Power Behind the Tata Group

To understand the magnitude of this conflict, one must first understand the structure of the Tata Trusts — a collection of philanthropic entities that control the Tata Group through their majority stake in Tata Sons.

The key Trusts include:

• Sir Dorabji Tata Trust

• Sir Ratan Tata Trust

• JRD Tata Trust

• Tata Education and Development Trust, among others.

These Trusts collectively steer not only the Tata Group’s philanthropic vision but also hold decisive influence over the group’s business direction — including appointments and strategy at Tata Sons.

Who Is Mehli Mistry? The Quiet Power Player

Often described as the man behind the curtain, Mehli Mistry maintained a low public profile but was known to be Ratan Tata’s trusted advisor for decades. Coming from the Shapoorji Pallonji family (the same lineage as Cyrus Mistry’s), Mehli chose loyalty to Ratan Tata over his family branch during the 2016 Tata vs. Mistry corporate battle, when Cyrus Mistry was ousted as chairman of Tata Sons.

Mehli’s quiet efficiency and deep understanding of the group’s functioning earned him a seat on several Tata Trusts. However, his perceived proximity to Ratan Tata and growing influence in trust decisions appear to have made him a target in recent internal shifts.

The Boardroom Battle: How the Ouster Happened

According to reports from The Indian Express, Economic Times, Bloomberg, and NDTV, Mehli Mistry’s reappointment as trustee came up for a vote in the last Trusts meeting — and was blocked by a majority of trustees, including Noel Tata, Venu Srinivasan, and one other trustee.

This vote effectively ended Mehli’s tenure at Tata Trusts and signaled a power transition within the organization.

Sources quoted by Business Standard and Reuters suggest that Noel Tata — Ratan Tata’s half-brother and managing director of Trent Ltd — is gaining influence in the Trusts’ operations, potentially preparing for a more visible leadership role.

The Ratan Tata Factor: Legacy at Crossroads

The ousting of Mehli Mistry comes at a delicate time for Ratan Tata, 87, who continues to wield moral authority over the Trusts despite stepping down from Tata Sons in 2012. Reports indicate that Ratan Tata was deeply distressed by the decision, describing it as “painful to see what’s happening,” as noted by Business Today.

Veteran Tata insider Noshir Soonawala, another close ally of Ratan Tata, publicly urged the trustees to “resolve their differences with dignity and transparency.”

Observers view this as part of a larger generational shift — from the Ratan Tata era of moral stewardship to a more corporate-driven, institutionalized form of governance under Noel Tata and his allies.

The Noel Tata Equation: Rise of a Successor?

While Noel Tata has long been in the shadows, managing Trent Ltd and other Tata retail ventures, insiders suggest he is now emerging as a central figure in the Trusts’ leadership transition.

Reports by Financial Express and Fortune India even claim that Noel Tata may aim to assume Ratan Tata’s overarching role within a year, though official sources have denied such ambitions.

Still, the timing of Mehli’s ouster — and the shifting alliances — strongly point toward a recalibration of power at the top.

Echoes of the Past: A Tata vs. Mistry Déjà Vu

The irony is unmistakable. Nearly a decade after the Cyrus Mistry vs. Ratan Tata corporate showdown rocked the Tata empire, another Mistry — this time Mehli — finds himself on the losing side of a power struggle.

The Supreme Court judgment of 2021, which upheld Tata Sons’ decision to remove Cyrus Mistry, had affirmed the Trusts’ control. Yet, this latest episode reignites the question: Who truly governs the Tatas — the trustees, or the legacy of Ratan Tata?

Reactions from the Corporate World

• Business Standard described the move as a “strategic repositioning” to bring in a new governance structure.

• NDTV called it “a brewing boardroom storm that could reshape the Trusts’ leadership.”

• Moneycontrol quoted sources saying Mehli’s removal “marks the end of an era of personal loyalty-driven leadership.”

• Bloomberg highlighted that the ouster could have “long-term implications on the group’s philanthropic mission and business alignment.”

What Happens Next: Governance, Legalities, and Future Direction

The Tata Trusts’ trust deed — the foundational legal document — will now come under scrutiny. According to Times of India, the deed outlines specific conditions for reappointment and removal of trustees, meaning Mehli Mistry’s camp could potentially challenge the decision legally, though no official move has been announced.

Meanwhile, the Trusts are expected to formalize a new governance structure, possibly paving the way for younger trustees or professionals to join.

Analysts believe this internal restructuring will influence leadership succession at Tata Sons and potentially affect Tata Group’s long-term philanthropic strategy.

Expert Take: Corporate Governance or Personal Rift?

Corporate governance experts are divided.

• Some see this as a natural evolution of leadership — transitioning from personal loyalties to institutional accountability.

• Others warn it reflects deep internal fractures that could weaken the Trusts’ moral authority.

According to Moneylife, the “L’affaire Tata” is less about corporate mismanagement and more about the balance between legacy and modernization.

Conclusion: A Turning Point for the Tata Legacy

The ousting of Mehli Mistry marks a historic turning point for the Tata Trusts — signaling both the end of an era and the beginning of a power recalibration within one of India’s most revered institutions.

Whether this change ushers in stability or sparks a new round of internal conflicts remains to be seen. But one thing is clear — the Trusts, once known for their quiet benevolence, have entered an age of visible boardroom politics.

As Ratan Tata’s generation fades and Noel Tata’s influence rises, the Tata empire stands at a crossroads — between legacy and reinvention, tradition and transformation.