The transfer of the late Ratan Tata’s shares in Tata Sons to two charities he set up is in doubt after a complaint over the ownership of some of those shares led to an investigation by Maharashtra’s Charity Commissioner, potentially delaying the execution of one of the country’s most closely watched wills.
The situation left Tata’s four executors – including his half-sisters Shirin and Diana Jejeebhoy, lawyer Darius Khambatta and his longtime confidant Mohli Mistry – unable to transfer Tata Sons’ 3,368 shares to the Ratan Tata Endowment Foundation (RTEF) and the Ratan Tata Endowment Trust (RTET), according to an executive familiar with the matter.
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The official, who requested anonymity, said: “The problem is that we do not know the details of the case and we learned about it through press reports.” “(But) we cannot transfer shares if their ownership is in dispute and is being investigated by a regulator.”
The investigation stems from a complaint filed in May 2026 by Sunil Patelkhede — through his lawyer Katyani Agrawal — that 833 Tata Sons equity shares were transferred in 1989 from the Navajbai Ratan Tata Trust to Naval H. Tata, without proper consideration, trustee approval or valid documentation.
These shares were later inherited by his sons Ratan Tata, Noel Tata (Chairman of Tata Trust) and Jimmy Tata. Mint was unable to independently confirm the number of 833 shares that Ratan Tata inherited from his father.
Following the legal notice, former Defense Minister Vijay Singh asked the Charity Commissioner of Maharashtra to investigate the allegations related to the 37-year-old’s share transfer.
Tata Trusts rejects these allegations
Tata Trusts had rejected the allegations in its response before the Charity Commissioner of Maharashtra on June 5.
“It is confirmed that the transaction was legal, made for consideration, and fully compliant with the rules then in force. It was approved at appropriate levels, including by the late Mr. Nani A. Palkhivala, one of the most distinguished lawyers in the country, and was approved by the then Board of Directors of Tata Sons. The shares were transferred on a valid transfer form duly stamped by the Registrar of Companies,” Tata Trusts said in a statement dated June 5.
In an email response to Mint, Mehli Mistry, one of the executors of Tata’s will, said everything will be carried out in accordance with due process and the wishes of the late Ratan Tata. “As far as the allegations regarding Tata Sons shares are concerned, I am not aware of any such illegality as of now,” he said.
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Judgment awaits
The charity commissioner is yet to announce his ruling on this complaint, although he has asked Sir Ratan Tata Trust, one of the two main Tata Trusts, not to hold any meetings following another complaint about the composition of the board.
Calls and text messages to the Charity Commissioner, Amogh Kaloti, went unanswered.
Ratan Tata founded RTEF and RTET before his death on October 9, 2024, and sought to vest Tata Sons’ 3,368 shares equally to the two entities.
