Maharashtra probe halts Ratan Tata transfer 3,368 Tata Sons shares
Ratan Tata's plan to leave 3,368 Tata Sons shares to his charitable trusts has hit a pause.
The Maharashtra charity commissioner is investigating after a complaint raised questions about the ownership of 833 shares transferred way back in 1989.
Those shares went from the Navajbai Ratan Tata Trust to Naval H. Tata, and eventually to Ratan and his brothers.
Jejeebhoy sisters pause shares transfer
Tata's half-sisters, Shireen and Deanna Jejeebhoy, who are executors of the will, have decided not to move forward with the transfer until things are cleared up.
The complaint claims there wasn't proper approval for that 1989 transfer, but Tata Trusts say everything was done by the book with legal checks in place.
For now, this is the last hurdle before Ratan Tata's nearly ₹10,000 crore will can be fully carried out for family, friends, employees, and charities.