Mehli Mistry
These days, everyone’s eyes are fixed on only one person within the Tata Group and that is Mehli Mistry. Even after being removed from Tata Trusts, he is playing his role in many important charitable institutions of the group. This is why it has become a topic of discussion both inside and outside the group as to what next steps Mistry will take.
Outside the main trusts, but still influential
Recently, the two main trusts that hold the majority stake in Tata Sons, Sir Dorabji Tata Trust and Sir Ratan Tata Trust, rejected the proposal to reappoint Mehli Mistry as trustee. After this decision, their direct influence has reduced, because these trusts have the greatest power of control in the Tata Group.
Still, Mistry is not completely out of the system yet. He is still a board member of Tata Education and Development Trust (TEDT), Tata Medical Center in Kolkata, and Breach Candy Hospital in Mumbai. These institutions have a big contribution in the social and educational fields.
TEDT: Tata’s new generation trust
TEDT was established about ten years ago. It oversees a fund of approximately ₹5,000 crore and works on projects related to higher education, scholarships and skill development. The board of this trust includes Noel Tata, Venu Srinivasan, Vijay Singh, Mehli Mistry and Jahangir Mistry. Interestingly, TEDT has the right to fund charitable works abroad also, which makes it different from other Tata Trusts.
Preparation for legal front
According to sources in an ET report, if Mehli Mistry challenges his removal in court, his position in TEDT may also be affected. At present, he has appealed to the Charity Commissioner of Maharashtra that his opinion should be heard before making any changes in the list of trustees.
Association of Breach Candy Hospital and CSR
South Mumbai’s prestigious Breach Candy Hospital is also one of the institutions under Mistry’s influence. He is its trustee since 2004. Recently Tata Group has donated ₹500 crore from its Corporate Social Responsibility (CSR) fund to this hospital. This has further improved the hospital facilities, and Mistry continues to be a presence here.
Change in balance of power in Tata Group
After Noel Tata became the chairman of Tata Trusts, the balance of power in the group has clearly changed. Mehli Mistry’s role now appears limited, but he remains a part of the Tata ecosystem.
Who is Mehli Mistry?
Mehli Mistry is the promoter of M. Pallonji Group, the same group that has partnered with the Tata family for decades. His business includes industrial painting, shipping, dredging and car dealership. His group also has business relations with many Tata companies.