Tata Trusts Trustees Accuse Darius Khambata of Engineering Board Shift
Tata Trusts trustees Venu Srinivasan and Vijay Singh accused fellow trustee Darius Khambata in a five-page letter of reshaping a trust's power balance and delaying N Chandrasekaran's reappointment as Tata Sons chairman, as the dispute over a Tata Sons listing deepens.
Tata Trusts trustees Venu Srinivasan and Vijay Singh have accused fellow trustee Darius Khambata of engineering changes to the composition of Sir Dorabji Tata Trust to shift its internal power balance. They made the claim in a five-page letter dated November 11.
The letter also questions whether opposition to listing Tata Sons, the Tata group's holding company, reflects concern for the Tata model or a wish to keep control of the company.
The November 2025 induction
Srinivasan and Singh allege that Khambata planned to remove Srinivasan temporarily so two new trustees could be inducted in November 2025, without unanimous consent. "You strategized to temporarily oust one of us (Venu), so as to induct 2 new trustees in November, 2025," they wrote. "There was nothing consensual about that process."
They say the induction materially changed the trust's composition. The letter responds to an earlier communication from Khambata.
Chandrasekaran's reappointment
According to the letter, the trustees of Sir Dorabji Tata Trust and Sir Ratan Tata Trust unanimously recommended a five-year reappointment for Tata Sons Chairman N Chandrasekaran on July 28, 2025. Khambata supported the resolution and, by his own account, drafted it, the two trustees said.
After the composition changed, the reappointment was deferred in February 2026. The letter says that left the leadership question unresolved for seven months, and that no later resolution overturned the July 2025 decision.
The trustees also cited a July 10, 2025 communication in which Khambata praised Chandrasekaran's performance and plans. They asked: "We would like to know what changed between that letter and the position you now take, other than the composition of the Trusts?"
The prolonged uncertainty led Chandrasekaran to decide against offering himself for reappointment, the letter says. It adds that the Nomination and Remuneration Committee unanimously asked him to reconsider.
Singh's nominee-director seat
The two trustees also challenged Khambata's account of the September 11, 2025 decision not to renew Singh's tenure as a Tata Sons nominee director. Per the letter, Khambata acknowledged that four trustees, including himself, voted against renewal to secure stronger opposition to the listing and preserve the Trusts' veto.
Srinivasan and Singh argue the vote was driven by the need for a particular outcome, not by Singh's merit. They also dispute Khambata's reading of the Supreme Court's judgment in the Tata-Mistry dispute. In their view, nominee directors still owe fiduciary duties to Tata Sons and cannot automatically follow the Trusts' position.
The listing question
The letter defends the Tata Sons board's September 17 decision, saying the board acted to end uncertainty that originated within the Trusts. It rejects Khambata's argument that listing Tata Sons would undermine the Tata model.
The trustees say the Reserve Bank of India concluded after a two-year review that Tata Sons remains a systemically significant financial institution and must comply with the listing framework.
