๐๏ธ Tata Sons share transfer inquiry finally closed
The Maharashtra Charity Commissioner closed the inquiry regarding the 1989 transfer of 833 Tata Sons shares by NRTT to Naval H Tata. This decision was reached in Maharashtra, concluding a decades-long dispute among Tata stakeholders. The transaction, dated January 18, 1989, was deemed compliant with the laws in force at that time. The sale was necessitated by tax considerations after the CBDT declined to recognize NRTT as a national trust in November 1988. This outcome provides relief for Noel Tata as he consolidates control over the business empire. ๐๏ธ