Pramit Jhaveri will not seek reappointment as trustee of Sir Dorabji Tata Trust

Tata Trusts

Pramit Jhaveri will not seek reappointment as a trustee of the Sir Dorabji Tata Trust after telling Tata Trusts chairman Noel Tata that he does not wish to be considered for another term when his current tenure ends on February 11.

In a letter dated January 31, reviewed by Moneycontrol, Jhaveri wrote: “I am now writing to let you know that I do not wish to be considered for re-appointment as a Trustee of SDTT when my current term expires on February 11.”

Jhaveri has served as a trustee of the Sir Dorabji Tata Trust since February 12, 2020, after being invited to join by the late Ratan Tata, according to the letter.

“It has been an honour to serve as a Trustee of the Tata Trusts,” Jhaveri wrote, adding that he wished the Trusts “very best” in the years ahead.

The letter was also marked to the trustees of the Sir Dorabji Tata Trust and to Siddharth Sharma, chief executive officer of Tata Trusts, indicating that the decision has been formally communicated within the Trusts’ governance framework.

Jhaveri, a veteran banker and former chief executive officer and managing director of Citibank India, joined the Trusts after retiring from Citi in 2019 following a career spanning more than three decades with the US financial services group.

Governance fault lines

The Tata Trusts, which together hold more than 60 percent of Tata Sons, have in recent months been marked by internal differences that have increasingly surfaced within trustee deliberations. As reported earlier by Moneycontrol, Jhaveri and Mehli Mistry had, on earlier occasions, raised concerns internally that information relating to the functioning of Tata group companies and Tata Sons was not being shared fully or in a timely manner with trustees, hampering their ability to discharge fiduciary responsibilities effectively.

A key fault line within the Trusts has been the question of whether Tata Sons should be listed — a move that could materially alter the balance of power between the Trusts, as controlling shareholders, and the operating management of Tata Sons. Moneycontrol had earlier reported that long-time trustee and senior advocate Darius J. Khambata had written to Noel Tata reiterating his opposition to any proposal to list Tata Sons. According to people familiar with internal discussions, Jhaveri and trustee Jehangir H.C. Jehangir shared this view, aligning broadly with the stance held by the late Ratan Tata.

The debate has coincided with trustee-level churn. In October 2025, Mehli Mistry exited the boards of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust after his reappointment was not renewed. Around the same period, Bhaskar Bhatt was inducted into the Sir Dorabji Tata Trust, altering internal equations within the Trust ecosystem.

Moneycontrol has reached out to Tata Trusts for comment.