Mehli Mistry has long stayed away from the media glare, yet his name carries quiet significance in India’s corporate world. A first cousin of the late Cyrus Mistry, Mehli has been a trusted associate of the late Ratan Tata for years. When the Tata Group faced one of its toughest boardroom battles, the removal of Cyrus Mistry as chairman of Tata Sons, Mehli stood firmly by Ratan Tata’s side.
He became part of the inner circle that helped steady the ship during a turbulent chapter in Tata history, which is often known for his discretion and loyalty. In October 2022, Mehli Mistry’s association deepened when he was appointed a trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, the two key entities that together hold a majority stake in Tata Sons. Since then, his quiet rise within the Tata ecosystem has turned him into one of the most closely watched figures in India’s business landscape.
Mehli Mistry – Biography
| Name | Mehli Mistry |
|---|---|
| Nationality | Indian |
| Profession | Industrialist, Investor, Trustee of Tata Trusts |
| Family Connection | Cousin of late Cyrus Mistry, from the M Pallonji family |
Mehli Mistry – Biography
Mehli Mistry – The Power Shift Within Tata Trusts
Mehli Mistry – Leadership Style
Mehli Mistry – At the Centre of a Legacy Dispute
The Boardroom Divide
What’s Next for Mehli Mistry?
What Lies Ahead for Tata Trusts?
Mehli Mistry – The Power Shift Within Tata Trusts
It’s been a year since the passing of Ratan Tata on October 9, 2024, and the once-unshakeable structure of the Tata Trusts is showing its first signs of internal strain. Unlike the much-publicized Tata–Cyrus Mistry clash years ago, this time the spotlight quietly turns to Mehli Mistry, Ratan Tata’s long-time confidant and the late Cyrus Mistry’s cousin, who is now playing a pivotal role in shaping the group’s future direction.
The rift has so far stayed confined to boardrooms, yet its ripples have reached New Delhi. On October 7, 2025, Tata Trusts Chairman Noel Tata, along with two trustees and Tata Sons Chairman N. Chandrasekaran, met Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman. The government’s involvement signals how seriously it views the growing discord inside one of India’s most respected corporate houses.
The 133-year-old Tata Trusts control about 66% of Tata Sons, the holding company of the INR 15 lakh crore Tata Group. Within the Trusts, two distinct factions have emerged: the Noel Tata camp, reportedly backed by Venu Srinivasan of TVS Group and Vijay Singh, the former Defence Secretary; and the Mehli Mistry camp, supported by Pramit Jhaveri (former Citibank CEO), Jehangir H.C. Jehangir (Chairman of Jehangir Hospital, Pune), and Darius Khambata, the senior lawyer.
Mehli Mistry – Leadership Style
Mehli Mistry’s leadership style appears to be both strategic and influential, particularly within the boardroom dynamics of the Tata Trusts. The article highlights his ability to shape outcomes and hold sway over key decisions, suggesting a leader who is decisive and comfortable navigating complex governance structures. His interventions have brought critical differences among trustees to the forefront, indicating that he does not shy away from challenging prevailing views when he believes it is necessary.
At the same time, Mistry demonstrates a form of independent thinking. By dissenting on certain appointments and emphasizing adherence to age-related precedents for leadership roles, he showcases a methodical approach grounded in principles and established norms. This reflects a governance-focused mindset, one that balances respect for tradition with the practicalities of modern corporate oversight.
Moreover, his influence seems to be exercised primarily behind the scenes, relying on boardroom strategy rather than public confrontation. This suggests a nuanced, consensus-sensitive leadership style that is subtle yet powerful, allowing him to assert authority while managing the sensitivities of a historically prestigious and complex organization like the Tata Trusts.
Mehli Mistry – At the Centre of a Legacy Dispute
At the heart of the disagreement lies the question of governance and transparency. One key issue is whether Tata Sons should be publicly listed. The Reserve Bank of India (RBI) had classified Tata Sons as an upper-layer non-banking financial company (NBFC), a designation that requires it to go public.
This classification triggered unease among several trustees. Some fear that an IPO could dilute their veto powers and expose the company to takeover risks, while others believe a public listing would ensure stronger accountability.
Adding to the pressure, the Shapoorji Pallonji (SP) Group, which holds 18.37% of Tata Sons, reiterated its call for listing on October 10, 2025. In a formal statement, the SP Group said that a transparent, publicly accountable Tata Sons would “uphold the spirit of transparency envisioned by Jamsetji Tata” and “strengthen trust among all stakeholders.” The group argued that such a move would also benefit Tata Trusts, helping ensure steady inflows for philanthropic activities aligned with the Tata vision.
The Boardroom Divide
Both sides within the Tata Trusts claim to be upholding Ratan Tata’s legacy. However, the divide deepened when Vijay Singh publicly remarked that the very idea of voting on issues within the Trusts was “unprecedented.” According to him, Ratan Tata believed decisions should always be taken by consensus rather than through votes, a sentiment not shared by Mehli Mistry’s faction, which insists that new times call for new norms.
The latest disagreement arose when four trustees, including Mehli Mistry, blocked Singh’s reappointment to the Tata Sons board, arguing that he had crossed the age of 75. While there’s no official retirement age for Tata Trusts trustees, with figures like J.R.D. Tata, Ratan Tata, and R.K. Krishna Kumar, serving until their passing, Ratan Tata himself had set a precedent by stepping down from Tata Sons’ executive role at 75 in 2012.
What’s Next for Mehli Mistry?
In the ongoing boardroom tussles, Mehli Mistry, along with four other directors, is reportedly challenging Noel Tata, who was appointed chairman following Ratan Tata’s passing on October 11. Mistry’s group is reportedly frustrated at being sidelined in key decision-making and is pushing for greater transparency and corporate governance reforms. The trustees are scheduled to meet again on Thursday to discuss the matter.
What Lies Ahead for Tata Trusts?
Amidst the mounting tension, the Tata Trusts board reconvened on October 10, 2025. Officially, the meeting’s agenda centered around reviewing proposed funding by Tata Sons to group companies. Yet insiders suggest that reconciliation was also on the table, largely prompted by the government’s quiet intervention.
If the discussions turn conciliatory, both factions may agree to soften their stance. But should Mehli Mistry’s supporters persist in nominating him to the Tata Sons board, a proposal gaining momentum, the internal conflict could stretch further.
For now, the battle remains behind closed doors, but it represents a defining moment for Tata Trusts. It’s a test of how the institution, built on unity and trust, will adapt to a new era where loyalty, governance, and legacy are all being redefined.
Nitin Konde
FAQs
Who is Mehli Mistry?
Mehli Mistry is an Indian industrialist, investor, and trustee of the Tata Trusts. A cousin of the late Cyrus Mistry and a long-time confidant of Ratan Tata, he has emerged as a key figure within the Tata Group’s power structure, known for his discretion, loyalty, and influence in boardroom decisions.
What is Mehli Mistry’s role in Tata Trusts?
He is a trustee of the Sir Dorabji Tata Trust and Sir Ratan Tata Trust, which together hold a majority stake in Tata Sons.
What role did Mehli Mistry play in the Tata–Cyrus Mistry feud?
He supported Ratan Tata during the 2016 crisis and was part of the inner circle that helped stabilize Tata Sons.
