The Economic Times

Maharashtra Charity Commissioner closes complaint over 833 Tata Sons shares transferred in 1989

The Maharashtra Charity Commissioner has dismissed a complaint against the Tata Trusts. The complaint questioned a 1989 share transfer from Navajbai Ratan Tata Trust. The Commissioner found the sale was necessitated by statutory compulsions and properly documented. Consideration received was based on an agreed valuation and resulted in a profit. The Commissioner noted the complainant's conduct was unbecoming of a trustee.