Charity Commissioner clears Tata Sons share transfer to Naval Tata

The Charity Commissioner of Maharashtra has dismissed a complaint regarding the transfer of 833 shares from the Navajbai Ratan Tata Trust (NRTT) to Naval H Tata in 1989. The complaint, filed by Vijay Singh, Trustee of NRTT, alleged that the shares were transferred without adequate consideration or proper authority. However, the Charity Commissioner ruled that no further inquiry was necessary based on the facts and circumstances of the case.

NRTT defended the transfer, stating it was a necessary action due to statutory obligations and that the shares were transferred with the condition of remaining within the Tata family. The Charity Commissioner found that the transaction was made with proper documentation and appropriate consideration was paid to the Trust, resulting in a profit that was reflected in their Balance Sheet.

The Tata Trusts emphasized that the allegations were baseless and part of a malicious campaign aimed at discrediting the institution. Meanwhile, another case is pending before the Charity Commissioner, which has prevented the Sir Ratan Tata Trust (SRTT) from conducting its board proceedings.