Darius Khambata officially informed Tata Trusts leadership that he will not seek reappointment when his term concludes on November 8. His departure follows heightened friction over key corporate decisions, including the contentious five-year reappointment of Tata Sons chairman N Chandrasekaran on September 17. Khambata firmly cautioned against efforts to separate Tata Sons from the Trusts, reiterating that the Supreme Court affirmed the Trusts' special rights. His exit further depletes board numbers following the earlier departures of Pramit Jhaveri and Mehli Mistry.
Key points
Khambata cited sadness over an ongoing divide between Noel Tata and Tata Sons chairman N…: Khambata cited sadness over an ongoing divide between Noel Tata and Tata Sons chairman N Chandrasekaran as he declined reappointment.
The departure comes after Khambata criticized the September 17 reappointment of Chandrase…: The departure comes after Khambata criticized the September 17 reappointment of Chandrasekaran as an event that sullied the reputation of Tata Sons.
Citing the Cyrus Mistry Supreme Court ruling, Khambata warned against any corporate maneu…: Citing the Cyrus Mistry Supreme Court ruling, Khambata warned against any corporate maneuvers attempting to decouple Tata Sons from the Trusts.
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MUMBAI: Darius Khambata, one of Tata Trusts chairman Noel Tata's closest allies, will leave the Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust (SRTT) when his term ends on Nov 8. In a four-page letter dated Nov 2 to Noel and Trusts CEO Siddharth Sharma, Khambata said he would not seek another term, even though both wanted him to stay. He wrote he was "saddened by the current divide" between Noel and N Chandrasekaran, chairman of
Tata Sons, in which the two trusts are majority shareholders.
Reappointment needs the consent of fellow trustees, and he said it was "not in my character to seek" it. "That independence comes at a cost," he wrote. He said his stand had at times differed from others, including Noel's.
His exit narrows the boards at a tense moment. SDTT will have five trustees: Noel, Venu Srinivasan, Vijay Singh, Neville Tata, Bhaskar Bhat. SRTT will have four: Noel, Srinivasan, Jimmy Tata, Jehangir H C Jehangir.
At SRTT, Khambata's term lapses automatically. The Maharashtra Charity Commissioner has barred the trust from changing its board…
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