Maha Charity Commissioner closes inquiry into Tata Trusts’ share deal

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The Maharashtra Charity Commissioner has closed a complaint against Tata Trusts concerning a 1989 share transfer, ruling it was lawful and for appropriate value. The order vindicated the Trust’s position and criticised the complainant’s conduct.

The Maharashtra Charity Commissioner has closed a complaint seeking an inquiry into the 1989 transfer of 833 shares of Tata Sons Private Limited from Navajbai Ratan Tata Trust (NRTT) to Naval H Tata, Tata Trusts said in a press release on Thursday.The Charity Commissioner, in an order dated September 2, concluded that no further inquiry under the Maharashtra Public Trusts Act, 1950, was warranted in relation to the share transfer, according to the Tata Trusts.The complaint was filed by Vijay Singh, Trustee, NRTT, through an email dated June 10, 2026. It had sought an inquiry into the transfer of the shares to Naval H Tata in 1989.Tata Trusts said the order vindicated its position that the allegations concerning the transfer were “baseless, unsubstantiated and malafide”.

Findings of the Charity Commissioner

The Charity Commissioner examined the issues raised in the complaint and the response submitted by NRTT, along with relevant documents, the release said.According to the findings cited, the sale was necessitated by statutory requirements and the share transfer was completed with proper documentation.The Commissioner also found that the Trust received appropriate consideration based on a valuation agreed upon by the Commissioner of Wealth Tax and earned a profit on the transaction. The profit was reflected in the Trust’s balance sheet as of March 31, 1989, Tata Trusts said.The order further noted that the shares were transferred on the condition that they would not be sold to a third party and would remain within the family of the recipient.The Charity Commissioner concluded that the transfer was made in full compliance with the law applicable at the time, according to the release.

Commissioner Criticises Complainant’s Conduct

According to the press release of Tata Trusts, the Commissioner also criticised the conduct of Vijay Singh, observing that his failure to make his email available to the Trust indicated an intention “to suppress this from the other Trustees and the Trust as a whole”.The order said this had damaged the reputation and goodwill of the Trust and described the conduct as “unbecoming of a Trustee of NRTT”.The Commissioner also expressed surprise that Singh had participated in an NRTT board meeting on June 8, 2026, where a resolution was passed to represent the Trust’s case before the Charity Commissioner, before filing his complaint two days later.Tata Trusts said the complaint has now been closed and no further inquiry into the share transfer is warranted. (ANI)(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)

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