The Sir Ratan Tata Trust (SRTT) has emerged as the focal point of the recent governance dispute within the group. Vijay Singh, who served as its vice-chairman and as a trustee of Tata Trusts, has stepped down and will not seek another term when his tenure at SRTT expires on August 14, 2026, though he will continue as a trustee of SDTT.

Venu Srinivasan has also played a key role as an SRTT trustee, while Mehli Mistry, a long-time associate of Ratan Tata, has exited the trusts.. One faction coalesced around Noel Tata, while the other was led by Mehli Mistry and included trustees Pramit Jhaveri, Jehangir HC Jehangir and Darius Khambata, the PTI report said.

37 per cent of Tata Sons, added a further dimension to the conflict. In the early stages of the dispute, Noel Tata was supported by Venu Srinivasan and Vijay Singh as differences sharpened over board appointments and governance matters raised by the Mistry-led group.

Vijay Singh who served as a Tata Trusts nominee director on the Tata Sons board, later stepped down from the board after opposition from the Mistry faction. The main point of contention has been the composition of the Tata Sons board and the distribution of seats on the board of the holding company that oversees the 156-year-old Tata Group, whose operations span hundreds of businesses, including around 30 listed companies.

The disagreement escalated to the point of attracting the Centre's attention. Noel Tata has opposed the idea of a public listing, whereas Venu Srinivasan and Vijay Singh have openly backed listing Tata Sons, the promoter holding company of the Tata Group, PTI reported.

According to reports, Chandrasekaran did not agree to Noel Tata's request that he categorically rule out the possibility of taking Tata Sons public. The differing views on the group's long-term ownership and governance framework have further strained relations between the trustees and the management of Tata Sons.

Another source of friction was Noel Tata's reported proposal to appoint his son, Neville Tata, as a trustee of the Sir Ratan Tata Trust, a move that Srinivasan and Singh are understood to have opposed. The divisions within the trust also disrupted its functioning, with meetings of the Sir Ratan Tata Trust being cancelled twice this year, first in January and again in May, for different reasons.

Mehli Mistry distancesMehli Mistry, who had consistently voiced governance-related concerns across various Tata Trust bodies, gradually began distancing himself from entities within the Tata Group. Among his most notable decisions was stepping down from the board of RNT Associates Pvt Ltd, the personal investment company and family office founded by Ratan Tata.

Following Mistry's exit, differences between Noel Tata and Venu Srinivasan and Vijay Singh became increasingly pronounced, with the future governance and ownership structure of Tata Sons emerging as the principal areas of disagreement. In April this year, Venu Srinivasan resigned as a trustee of the Bai Hirabai Jamsetji Tata Navsari Charitable Institution, citing other business commitments as the reason for his decision.

The latest leadership change came on Tuesday when Vijay Singh resigned as a trustee of the Sir Ratan Tata Trust, just a day before N Chandrasekaran announced that he would not seek another term as chairman of Tata Sons. Singh chose not to seek an extension of his tenure, which ends on August 14.

He said the recommendation was subsequently endorsed by the Tata Sons Nomination and Remuneration Committee and approved by the board before being placed before directors at the February 24 board meeting. However, the proposal did not go through after one board member withheld support."

In the absence of unanimous support, I chose to defer the decision," Chandra said. With the matter remaining unresolved for six months, Chandrasekaran said it had become important to provide certainty over the group's leadership for employees, investors, partners and other stakeholders, particularly as Tata Sons is executing several strategic projects.

He said he had therefore informed the board that he would not seek reappointment after his current term ends on February 20, 2027, and urged directors to identify his successor at the earliest to facilitate a smooth transition.

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