The Charity Commissioner of Maharashtra has given Tata Trusts time until October 15 to present their arguments on objections raised by former trustee Mehli Mistry concerning change reports recording his exit from three Tata trusts, alleged governance lapses and the eligibility of certain trustees of the Bai Hirabai Trust.The matter was listed for hearing on Tuesday and has now been deferred to next month as the Sir Ratan Tata Trust (SRTT) sought more time citing the exit of trustee Vijay Singh.Mistry resigned as a trustee of three trusts last October after their boards voted not to renew his appointments. In a separate matter, Mistry has challenged the eligibility of certain trustees of the Bai Hirabai Trust. The trusts’ lawyers, however, maintained that Vijay Singh is no longer a trustee, as he chose not to seek another term when his tenure expired on August 14.The dispute traces back to Mistry’s departure from the trusteeship after his term was not renewed. A long-time Tata Group insider and close associate of the late Ratan Tata, Mistry’s exit has since evolved into a wider controversy, with allegations touching on the governance of certain Tata trusts, potential conflicts of interest and the manner in which trustees are appointed.Mistry has raised a series of questions before the Maharashtra Charity Commissioner, ranging from compensation and commissions received by certain trustees from Tata Group companies to potential conflicts of interest arising from trustees simultaneously holding positions on the boards of group entities.Apart from questioning his own removal from the SRTT, Mistry raised issues of governance and decision-making within the philanthropic institution.In filings submitted to the regulator in June, Mistry has questioned trustee appointments, board-level decisions, remuneration arrangements, and governance practices across the Tata Trusts ecosystem.Story continues below this adA key theme of Mistry’s argument relates to the fiduciary responsibilities of trustees overseeing charitable institutions. He has sought an examination of whether remuneration and other benefits received by trustees from Tata group companies are consistent with those obligations.The filings further contend that compensation earned by trustees in their capacity as nominees of charitable trusts should accrue to the trusts themselves rather than be retained by individual trustees.Mistry argued that the trustees of the SRTT and the Sir Dorabji Tata Trust had unanimously passed a resolution on October 17, 2024, to renew the tenure of existing trustees in order to ensure continuity following the death of Ratan Tata. However, he alleged that despite this consensus, certain trustees later voted against the renewal of his term.Mistry had also challenged the appointment of two trustees of Bai Hirabai Trust — Venu Srinivasan and Vijay Singh — before the Maharashtra Charity Commissioner as they are non-Zoroastrians. However, Srinivasan and Singh are no longer trustees of this trust.Story continues below this adTata Trusts had earlier deferred indefinitely its much-awaited board meeting scheduled for Saturday following an order from the Charity Commissioner of Maharashtra.An inquiry into complaints — pertaining to the number of perpetual trustees — has already been ordered and a report of the inquiry is awaited, the Charity Commissioner said in the order. Interestingly, the order has made reference to representation/complaint from Tata Sons Director and Tata Trusts Trustee Venu Srinivasan and Adv Katyayani Agrawal.George Mathew is an Associate Editor with The Indian Express, based in Mumbai. A veteran of financial journalism with nearly three decades of experience, he is one of the country’s most authoritative voices on banking, regulation, and the corporate sector. Expertise & Focus Areas Mathew’s reporting covers the nerve center of India’s economy. His specialized beats include: The Reserve Bank of India (RBI): He has tracked the central bank's policy evolution through the tenures of multiple Governors, offering deep insights into monetary policy, repo rates, and banking regulation. Banking & Insurance: Extensive coverage of public and private sector banks, non-performing assets (NPAs), and key legislative reforms like the Insurance Amendment Bills. Corporate Affairs: Mathew frequently breaks major stories related to India's largest conglomerates, with a specific focus on the Tata Group, documenting boardroom shifts and strategic decisions. Financial Markets: Reporting on the complexities of Foreign Portfolio Investors (FPIs), IPOs, and currency fluctuations. Authoritativeness & Insight With a career dating back to the late 1990s, Mathew possesses a rare institutional memory of India’s financial liberalization and market crises. His work is not limited to daily news; he frequently contributes to the "Explained" section, where he decodes complex financial legislations and market trends for a broader audience. His rigorous reporting has also been featured in scholarly platforms like the Economic and Political Weekly (EPW). Find all stories by George Mathew here ... Read More