Philanthropic organization Tata Trusts dismissed claims regarding a 1989 share transfer by the Navajbai Ratan Tata Trust to the late Naval H. Tata, labeling them baseless and an attempt to tarnish the reputation of the institution and the Tata family. The Trusts firmly denied any wrongdoing, stating that the transaction was legal, done for consideration, and compliant with the regulations in place at that time. They emphasized that the transfer was approved by relevant authorities and executed properly.
The statement from Tata Trusts mentioned that they will take legal action to protect their reputation and goodwill. They clarified that the transfer was authorized by key figures, including the late Nani A. Palkhivala, and endorsed by the Tata Sons board. The transfer was carried out using a valid transfer form approved by the Registrar of Companies.
Additionally, Tata Trusts addressed the allegations against the Tata family, including late Naval H. Tata and his sons, emphasizing that the claims were unfounded. The organization criticized the petitioner, Suresh Tulsiram Patilkhede, as a repeat litigator who has previously targeted the Trusts without valid grounds, aiming to disrupt their philanthropic work. Tata Trusts highlighted the Bombay High Court’s remarks on a recent petition, criticizing the petitioner’s approach and allowing withdrawal of the case.
The Trusts condemned the allegations as lacking factual basis and part of a deliberate campaign to discredit an institution with a long history of service and commitment to public trust, accountability, and ethical practices.
