Darius Khambata resigns from Tata Trusts, criticizing Chandrasekaran reappointment
MUMBAI — Senior Tata Trusts board member Darius Khambata resigned from his position on November 8, 2026, citing the September 17 decision by the Tata Sons board to reappoint N. Chandrasekaran as chairman as having sullied the company's reputation.
In a letter to Tata Trusts Chairman Noel Tata, Khambata wrote that the board's actions had 'sullied Tata Sons' reputation and imperilled the image of corporate India,' stating that 'no amount of spin doctoring can mask what happened.' Khambata questioned whether the board would have acted as it did had Ratan Tata still been alive, adding that 'duties are owed to institutions, not individuals.'
Khambata, a senior lawyer and trustee of the Sir Dorabji Tata Trust and Sir Ratan Tata Trust since 2023, has been a prominent figure in the governance disputes within the Tata group. He expressed concern over the reappointment while also highlighting his longstanding opposition to the listing of Tata Sons shares, arguing it must be coupled with providing liquidity to the Shapoorji Pallonji group.
The resignation underscores a deepening rift within the Tata trusts. Fellow board members Vijay Singh and Venu Srinivasan have supported a share sale to provide liquidity, while Khambata has aligned with Noel Tata on retaining the group's private status. The Sir Ratan Tata Trust continues to operate under a regulatory ban.
An executive with the trusts noted that Ratan Tata continues to hold a majority within the trusts despite Khambata's exit. Tata Sons declined to comment on the resignation letter.
Khambata's term at the Sir Dorabji Tata Trust was due to end in November 2026, and he stated he opted against reappointment in anticipation of opposition from Singh and Srinivasan. In his letter, he also criticized Singh and Srinivasan for working against the trusts' interests, arguing that all trustees owe an equal fiduciary duty to the trust and that there cannot be two classes of trustees.
The development adds further complexity to the ongoing governance discussions within the Tata group, with the foundation's role and the chairman's reappointment at the center of debate.
