The board stuck to the agenda of accounts and budgetary allocation at the two-hour meeting, leaving out the controversial subjects such as a third term for Tata Sons Chairman N Chandrasekaran (Chandra as he’s called) and the potential listing of the holding company of the salt-to-software conglomerate after a decision is taken by the Reserve Bank of India, sources said.
The Tata Trusts meeting was seen as significant as it came right ahead of a Tata Sons board meeting scheduled for June 12. However, the agenda of the Tata Sons board meeting also does not include Chandra’s third term or listing of the holding company, one of the sources pointed out. Tata Trusts, which is at present under the shadow of a share transfer row dating back to 1989, would need to deliberate on the Tata Sons leadership issue before a decision is taken at the Tata Sons board. Chandra’s second five-year term as executive chairman of Tata Sons is until February 2027.
While Tata Trusts had passed a resolution in July 2025, backing a five-year third term for Chandra as executive chairman to ensure continuity, there’s uncertainty around the subject now. Noel Tata, who’s Tata Trusts chairman and nominee director at Tata Sons, questioned the financials of some of the group businesses at a board meeting in February 2026, while linking their review to Chandra getting a third term. Late last month, a special board meeting of Tata Sons was called, at Noel Tata’s behest, to review the loss-making entities of the group such as Air India and Tata Digital.
Even as Tata Trusts has denied allegations around the illegal transfer of shares by the Navajbhai Ratan Tata Trust (NRTT) — which comes under one of the core trusts (Sir Ratan Tata Trust or SRTT) — to the late Naval H Tata some 37 years ago, the issue is yet to find a closure. Tata Trusts, in a recent statement, called the petitioner, Suresh Tulsiram Patilkhede, a “serial litigator’’, while stating that the share transfer of 1989 had been vetted by Nani A Palkhivala and approved by then Tata Sons board. Palkhivala, a top jurist, was also a trustee at SRTT and a founding trustee at NRTT, thereby adding to the complexity of the ongoing case.
Meanwhile, SRTT is in the midst of a controversy over an alleged violation of Maharashtra Public Trusts (Amendment) Act related to perpetual trustees. Last month, the Maharashtra Charity Commissioner directed Tata Trusts not to hold any meeting of SRTT till the issue is resolved. According to norms, only 25 per cent of the total board strength can be perpetual or lifetime trustees. The SRTT lifetime members (Jimmy Tata, Jehangir HC Jehangir, and Noel Tata) exceed the stipulated cap as the total board strength is six. Monday’s Tata Trusts meeting stayed away from discussing any issue linked to SRTT, as directed by the Maharashtra Charity Commissioner last month.
 "Tata Trusts, Bombay House")