Bombay House, Tata Group's iconic headquarters.
\n\nDarius Khambata has declined reappointment as trustee of the Sir Dorabji Tata Trust and Sir Ratan Tata Trust. Khambata, who is also a senior advocate sharply criticising the handling of the Tata Sons governance dispute, the engagement with the Reserve Bank of India (RBI) over its regulatory status and attempts to separate the holding company from its charitable owners.
\n\nHe wrote a letter addressed to Tata Trusts chairman Noel Tata and chief executive Siddharth Sharma, dated November 2 and said he did not wish to seek reappointment, despite both having expressed a desire for him to continue.
\n\nKhambata said he had accepted the original appointments at the invitation of the late Ratan Tata and wanted to maintain his independence as a trustee.
\n\n“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. That is the old Tata way. Yet in law even a Trustee’s reappointment requires the agreement of all other Trustees. That is a consent that it is not in my character to seek as it would compromise my independence to do so,” he wrote.
\n\n“I was the…
Original source: https://www.timesnownews.com/business-economy
