Mehli Mistry voted off Tata Trusts: The rise and exit of Ratan Tata’s trusted confidant

Who is Mehli Mistry?

In the complex web of Indian business, where names often echo in headlines, Mehli Mistry, a close friend of Ratan Tata, stands apart as a man of quiet influence, operating far from the public gaze. Known as a reserved, discreet person deeply intertwined with the Tata story, Mistry’s presence has long been felt in boardrooms though seldom seen in public fora.

Mehli is a cousin of the late Cyrus Mistry – who was ousted as Chairman of Tata Sons in October 2016 — and the son of Pallonji Mistry’s brother. Though his surname evokes instant associations with the Shapoorji Pallonji Group, Mehli Mistry charted a different course early in life. Mistry avoids the social limelight, has never given interviews and shuns corporate flamboyance.

Within the Tata Trusts, while trustees Noel Tata, TVS group chief Venu Srinivasan and former Defence Secretary Vijay Singh acted as one bloc and voted against Mistry, Mistry enjoyed the support of trustees Pramit Jhaveri, Darius Khambatta and Jehangir H C Jehangir.

Mehli Mistry’s business interests 

Unlike his high-profile cousins of the Shapoorji Pallonji group, Mehli chose not to take a frontline role in the sprawling construction and infrastructure empire. Instead, he is involved in a smaller but steady business portfolio called M Pallonji group of companies which is involved in painting, dredging, stevedoring, logistics solutions, shipping, finance, investments, life insurance, automobile dealerships and manufacture of speciality coatings. M Pallonji & Co, where he’s a director, is the flagship of the group.

MetLife India Insurance Co Pvt Ltd was established in 2001 with Metife, M Pallonji and The Jammu & Kashmir Bank Ltd as the principal shareholders. M Pallonji continues to be an investor and significant shareholder.

However, he’s believed to have cultivated strong personal and professional bonds within the Tata ecosystem.

Ratan Tata connection

Although Mistry was first inducted as a trustee in 2022, he had been closely connected with Ratan Tata long before entering the scene. Mistry was also among the contenders for the Tata Trusts chairmanship after Ratan Tata. However, he supported the candidature of Noel Tata as the Trust Chairman.

Mehli Mistry is also one of the executors of Ratan Tata’s will. He inherited Ratan Tata’s Alibaug property and his treasured collection of three firearms.

He was one of the steadfast figures who quietly stood by Ratan Tata, providing stability and perspective during a period of intense corporate and personal turmoil, particularly during the ouster of Cyrus Mistry as Chairman of Tata Sons. Those familiar with both men describe their bond as one of profound trust and mutual respect. Mehli Mistry’s wisdom and discretion are widely regarded as having made him one of Ratan Tata’s closest and most trusted confidants.

Mistry challenges Noel Tata

Clearly, Mistry was aiming for a bigger role in the Tata group. The latest flashpoint emerged a month ago when a bloc of four trustees, led by Mehli Mistry, opposed Vijay Singh’s reappointment as nominee director on the board of Tata Sons, the group’s principal holding company.

The move triggered an unprecedented split (2–4) within the Tata Trusts — a rare and public sign of discord inside one of India’s most revered corporate institutions. Singh subsequently resigned from the Tata Sons board in the second week of September. Though Venu Srinivasan and Noel Tata supported him, it wasn’t enough for Singh as all Tata Trusts’ decisions need to be unanimous.

In turn, Srinivasan and Tata opposed Mistry’s candidature for Tata Sons board, exposing the deep rift among the trustees. There was no possibility of Noel Tata reconsidering his decision to reject Mistry’s bid for a board seat at Tata Sons, sources said.