Senior advocate Darius Khambata declines re-appointment as trustee of Tata trusts
Darius J. Khambata wrote to Tata Trusts chairman Noel Tata and CEO Siddharth Sharma, refusing a second term as trustee over concerns about trustee independence and the proposed listing of Tata Sons.
Senior advocate Darius J. Khambata informed the chair of the Sir Dorabji Tata Trust and Sir Ratan Tata Trust, Noel Tata, and the trusts' chief executive, Siddharth Sharma, that he will not seek re-appointment as a trustee. In a letter dated 2 November, Khambata said he accepted his original appointments at the invitation of the late Ratan Tata and wishes to preserve his independence.
“That independence comes at a cost. My stand and approach has at times differed from others’, including Noel’s; I appreciate Noel’s democratic acceptance of this. … It would compromise my independence to seek consent for re-appointment,” he wrote.
Khambata, who said more than 90 % of his meeting time was devoted to philanthropic projects, reiterated his opposition to the proposed public listing of Tata Sons, describing it as “existential” for the trusts. He argued that the Tata Group’s ownership structure is integral to its identity and that separating Tata Sons from the trusts would undermine the model founded on Mahatma Gandhi’s trusteeship doctrine.
“The Tata model succeeded precisely because it was not driven by avarice or short-term gain,” he said.
While acknowledging the Shapoorji Pallonji group’s desire for liquidity, Khambata supported a sale of some or all of its Tata Sons shares as an alternative to a full listing. He also criticised recent engagements with the Reserve Bank of India, stating they had not adequately addressed transparency and reporting requirements for a listed company.
The letter referenced a September 2025 vote by four trustees, including Khambata, against renewing nominee director Vijay Singh’s tenure, a move he said preserved the trusts’ veto power over board decisions. He cited the Supreme Court’s Tata v Mistry judgment as confirming the special rights of the trusts.
Khambata concluded that his decision was guided by a sense of duty to the “Tata model” and urged future trustees to uphold the values on which it was built.