Mumbai, November 3, 2026: Former National Commission for Minorities (NCM) vice-chairman Kersi Deboo has written to Prime Minister Narendra Modi, urging him to protect the Tata Group’s philanthropic legacy amid an ongoing dispute over the conglomerate’s corporate structure and ownership.
In his letter, Deboo said the Tata Group was not merely a business house but one of the pillars of nation-building, with significant contributions to education, healthcare, scientific research and social welfare.
He pointed out that approximately 66% of Tata Sons is held by charitable trusts, a distinctive ownership arrangement reflecting the founders’ vision that wealth and enterprise should serve humanity.
Deboo Seeks Fair Application Of Law
Deboo clarified that he was not seeking exemption from the law but wanted it to be applied fairly, taking into account the charitable purpose underlying the shareholding structure.
He urged the government to ensure that any regulatory or legal changes did not undermine the interests of the trusts or the group’s philanthropic commitments.
Speaking to the FPJ, Deboo said the company’s future structure should be determined by the majority shareholders rather than employees.
“The decision of the majority shareholders should prevail. There are alternatives and the government should look at these,” he said.
RBI Rejects Tata Sons' Deregistration Request
The dispute follows the Reserve Bank of India’s rejection of Tata Sons’ application to surrender its registration as an Upper-Layer Core Investment Company (CIC), which would have enabled it to avoid a mandatory stock market listing.
Tata Trusts opposes an initial public offering (IPO), arguing that a listing could undermine the group’s philanthropic character, while the Shapoorji Pallonji Group, which holds an 18.4% stake, has favoured a listing or liquidity event.
Differences Over Tata Sons Leadership
The differences have also extended to the group’s leadership. On September 17, the Tata Sons board voted to reappoint Chandrasekaran as executive chairman for another five-year term, with Tata Trusts chairman Noel Tata voting against the move.
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Deboo’s intervention follows an earlier appeal by a group of Parsi charitable trusts and institutions against changes to the nature of the Tata Group’s ownership.
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