Ratan Tata's charity share transfer halted amid Maharashtra probe
Business
Ratan Tata wanted his Tata Sons's shares to go to charity, but the transfer is on hold because of a legal dispute.
The Maharashtra charity commissioner is looking into whether a 1989 share transfer was properly approved and documented, with some claiming it broke trust and company rules.
Tata Trusts defends legality of transfer
Tata Trusts says everything was above board and done with legal advice.
Until ownership issues are sorted, executors have paused moving shares to the Ratan Tata Endowment Foundation and Trust.
To keep things transparent, Vice Chairman Vijay Singh has proposed an independent inquiry.
The beneficiary charities aren't involved in the current investigation.