The controversy surrounding a 1989 transfer of Tata Sons shares has intensified after Tata Trusts Vice Chairman Vijay Singh sought an independent inquiry into the transaction, according to a report by The Economic Times.
In a letter dated June 10 to the Maharashtra Charity Commissioner, Singh requested a probe into the transfer of 833 Tata Sons shares from the Navajbai Ratan Tata Trust to the late industrialist Naval Tata. He stated that an independent investigation would help establish facts, address concerns over a potential conflict of interest, and restore public confidence in the administration of the Trusts.
The move follows a legal notice alleging that the transaction amounted to an unlawful diversion of public charitable assets into private hands. The notice reportedly raised questions over the necessity of the transfer, the availability of supporting documentation, and whether adequate consideration was paid based on an independent valuation.
The dispute relates to a share transfer carried out in January 1989. The complainant has alleged that the transaction lacked legal necessity, was not supported by valid documentation, and was executed without consideration, making it unlawful under public trust regulations. The matter is now under renewed scrutiny amid calls for a formal investigation.
