Tata Trusts calls 1989 share transfer allegations ‘baseless, malicious’ as regulator disposes complaint

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.