Noel Tata and his family members hold 17 of the 36 trustee positions across the seven shareholding trusts under Tata Trusts, giving them significant control over the upcoming AGM voting dynamics. According to Business Standard, Noel Tata is present in all seven trusts, while Neville Tata is in the core trust SDTT and three other shareholding trusts, and Leah and Maya are in three shareholding trusts each. The family's control becomes particularly significant as Noel Tata, Chairman of Tata Trusts, holds 33% of the total number of trustees at SDTT, where the trust's 27.98% shareholding in Tata Sons makes it the biggest trust in the Tata Trusts fold. Leah and Maya were inducted into three trusts each in May 2024, just months before Ratan Tata died, while Neville joined SDTT in November 2025.
The Tata Sons AGM, originally scheduled for August 18, has been postponed due to Sir Ratan Tata Trust (SRTT) being frozen by the Maharashtra Charity Commissioner over alleged violations linked to perpetual trusteeship. As reported by Business Standard, the Registrar of Companies has granted time until the end of this year for Tata Sons to hold the AGM. The AGM will determine the renewal of N Chandrasekaran's directorship, which must be renewed before he can be given a third term as Tata Sons chairman, following the September 17 board resolution that reappointed him by a 4-1 vote. Tata Trusts has officially declared the resolution illegal and a legal nullity, with Noel Tata voting against the reappointment while Venu Srinivasan, the other Tata Trusts nominee, voted in favour.
SDTT's trustee composition shows Noel as the only lifetime trustee, with five other trustees having three-year tenures that typically get renewed on expiry. According to Business Standard, Darius Khambata's three-year term will end in November, while Vijay Singh's term runs until July 2027. The three-year terms of industrialist Venu Srinivasan, Neville Tata, and Bhaskar Bhat will end in November 2028. At SRTT, which holds 23.56% of Tata Sons, Noel is the only family member accounting for 20% of the total trustees, with the trust currently frozen and its status unknown at the time of the AGM. SRTT has three lifetime trustees out of five, exceeding the regulatory cap of one-fourth under the amended Maharashtra Public Trusts Act.
Tata Trusts has filed 36 caveats with the Maharashtra Charity Commissioner in response to Venu Srinivasan's complaint regarding the trust's functioning, with Noel Tata filing 21 caveats and son Neville filing 15 caveats to protect against adverse orders that could constrain the Trusts in the ongoing tussle at Tata Sons. The filings cover proceedings under Sections 41D, 41E and 47 of the Maharashtra Public Trusts Act, with sources telling NDTV Profit that the move seeks to ensure the trusts are given an opportunity to be heard before the Charity Commissioner passes any order affecting them. Srinivasan has separately approached the Maharashtra Charity Commissioner, seeking an inquiry into SDTT's governance and questioning Noel Tata's status as a perpetual trustee, while Singh has raised similar concerns.
As reported by Economic Times, Tata Trusts collectively owns 66% of Tata Sons, with SDTT holding 27.98% while SRTT owns 23.56%, giving the two principal trusts a combined 51.54% stake in the Tata Group holding company. The trustee list shows six trustees: Noel Tata (perpetual), Srinivasan, Vijay Singh, Neville Tata, Darius Khambata, and Bhaskar Bhat. Beyond the Tata Trusts, the Shapoorji Pallonji (SP) group holds over 18% stake in Tata Sons, with Noel being related to the SP group through marriage, while a clutch of Tata companies including Tata Steel, Tata Motors, Tata Chemicals, and Tata Power hold about 12% in Tata Sons. The dispute is unfolding alongside a wider debate over Tata Sons's future structure, with Tata Trusts having proposed a restructuring that could allow Tata Sons to remain an unlisted private entity.
