Darius Khambata declines reappointment as Tata Trusts trustee
Senior advocate Darius Khambata cited concerns over the Tata Group ownership model and the need for independence in his letter.
Senior advocate Darius Khambata has declined to be reappointed as a trustee for the Sir Dorabji Tata Trust (SDTT) and the Sir Ratan Tata Trust (SRTT), according to the Financial Express. Khambata, who joined the boards in November 2023, stated in a letter dated November 2 to Tata Trusts chairman Noel Tata and chief executive officer Siddharth Sharma that he would not seek the legal consent of fellow trustees required for reappointment.
Khambata said seeking such consent would compromise his independence. He noted that while Noel Tata and Siddharth Sharma wanted him to continue, his views had occasionally differed from other trustees, including Noel Tata.
The senior advocate expressed opposition to the listing of Tata Sons, suggesting such a move could harm the connection between the charitable trusts and the holding company. He mentioned that during a meeting on May 28, 2025, he warned that listing posed an existential threat to the trusts.
Khambata suggested that any move against listing should include a plan to provide liquidity to the Shapoorji Pallonji Group, which owns a stake in Tata Sons. He said he had supported allowing the group to exit by selling some or all of its shares.
He also criticised Vijay Singh and Venu Srinivasan for publicly supporting a listing in April 2026, despite previously being part of unanimous resolutions against it. Khambata stated they had not shared their reasons for this change with co-trustees.
In his letter, Khambata expressed sadness regarding the divide between Noel Tata and N Chandrasekaran. He urged both to uphold the founding values of the Tata Group.