Mehli Mistry opposes using TEDT corpus for Tata chairmanship dispute
Business
Mehli Mistry, a trustee at Tata Education and Development Trust (TEDT), isn't happy about the possible use of TEDT's corpus for legal battles in the ongoing clash between Tata Trusts and Tata Sons.
The main issue? Whether N Chandrasekaran should stay on as chairman.
In an email to the CEO, Mistry made it clear: TEDT shouldn't be footing these legal bills.
Mehli Mistry seeks November TEDT review
Mistry pointed out that TEDT is supposed to stay out of Tata Sons's shareholder drama and wants this stance discussed at its next board meeting in November.
For context, Chandrasekaran had said he wouldn't continue past early 2027, but the Tata Sons board recently voted to keep him on, something Tata Trusts is contesting.
Just so you know, TEDT's corpus, reportedly estimated at ₹5,000 crore.