In one of the sharpest letters to emerge from the Tata group in years, senior advocate Darius Khambata has declined another term as a trustee of the two principal Tata Trusts, and he has not minced words about why. In a four-page letter dated November 2, addressed to Tata Trusts chairman Noel Tata and chief executive Siddharth Sharma, Khambata said he would not seek reappointment to the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. His term at the Sir Dorabji Tata Trust runs out on November 9, and his tenure at the other trust ends this month as well.
The letter, reported by multiple outlets on November 2 and 3, lands as the governance of the Tata group faces intense scrutiny. Khambata had been a key voice inside the Trusts on whether Tata Sons should be listed and who should lead it. His exit changes the arithmetic inside both trusts just weeks before a Tata Sons board meeting scheduled for November 26.
What Khambata actually said
Khambata framed his decision as a matter of independence. He said he had accepted both trusteeships at the invitation of the late Ratan Tata, and that he had always tried to speak candidly within the Trusts, even when he disagreed with fellow trustees, including Noel Tata himself. But reappointment, he pointed out, requires the agreement of all the other trustees.
Seeking that consent, he wrote, is not something he could do without compromising his independence. He added that he was stepping away without ill will towards any fellow trustee, and that he wanted history to judge whether the custodians of the Tata model had the statesmanship to preserve it.
His strongest language was reserved for September 17, 2026. On that day, the Tata Sons board voted 4-1 to retain N Chandrasekaran as chairman for a third term and to move ahead with listing the company, with Noel Tata casting the only dissenting vote. Khambata called it, in his words, a day that will live in infamy, and said the events of that day had sullied Tata Sons reputation and imperilled the image of corporate India.
Why the listing question matters so much
At the heart of the dispute is the proposed listing of Tata Sons, the unlisted holding company at the top of the Tata group. The Tata Trusts together hold a controlling stake in Tata Sons, and that structure is what lets philanthropic trusts, rather than the market, steer the group. Khambata has long argued that listing would threaten that model.
He reminded readers in his letter that he was the first to caution against a listing, calling it existential for the Trusts at a meeting on May 28, 2025. He also drafted the resolution passed unanimously by both trusts on July 28, 2025, which set out the Trusts position on the issue.
What changes inside the Trusts
Khambata exit reshapes both trusts. Once he leaves, the Sir Dorabji Tata Trust will have five trustees: Noel Tata, his son Neville Tata, former Titan managing director Bhaskar Bhat, and vice-chairmen Venu Srinivasan and Vijay Singh. The Sir Ratan Tata Trust will be left with four trustees: Noel Tata, Jimmy N Tata, Jehangir H C Jehangir and Venu Srinivasan.
That matters because Khambata had been an ally of Noel Tata on several key questions, including opposing the listing and backing Chandrasekaran third term. Losing a trustee who combined legal weight with institutional memory weakens that bloc at a delicate time.
What to watch next
- November 9: Khambata term at the Sir Dorabji Tata Trust formally ends, leaving five trustees in place.
- November 26: The Tata Sons board meets, the first major test of the new Trusts lineup.
- The listing question: Whether the board presses ahead with listing plans despite the Trusts opposition will signal how much sway the Trusts still hold.
- Any successor: Who, if anyone, is named to fill Khambata seat will show which way the Trusts are leaning.
For now, the letter itself is the story. A trustee invited in by Ratan Tata has chosen to walk away rather than ask his fellow trustees to keep him, and he has put on record, in unusually blunt language, that he believes the events of September 17 damaged the institution he served.
Frequently asked questions
Who is Darius Khambata?
He is a senior advocate who served as a trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, having accepted both roles at the invitation of the late Ratan Tata.
Why did he decline reappointment?
He said seeking the consent of all other trustees for reappointment would compromise his independence, and he pointed to the September 17 Tata Sons board decisions as having sullied the company reputation.
When does his term end?
His term at the Sir Dorabji Tata Trust ends on November 9, 2026, and his tenure at the Sir Ratan Tata Trust ends this month.
What happened on September 17, 2026?
The Tata Sons board voted 4-1 to retain N Chandrasekaran as chairman and to list the company, with Noel Tata as the lone dissenter.
Does his exit settle the listing debate?
No. The listing question remains open, and the November 26 Tata Sons board meeting is the next key date to watch.
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