Mehli Mistry resigns from board of Ratan Tata’s investment company RNT Associate

3 min readMumbaiUpdated: Jul 2, 2026 03:55 PM IST

Mistry, one of the executors of Ratan Tata’s will, cited his preoccupation with other commitments as reason for the resignation from RNT Associates. (File image)

Mehli K Mistry, a close associate of late Ratan Tata, has resigned as a director of RNT Associates Pvt. Ltd, the investment company founded by the former Tata Sons and Tata Trusts Chairman.

Mistry, one of the executors of Ratan Tata’s will, cited his preoccupation with other commitments as reason for the resignation from RNT Associates.

Set up in March 2009, RNT Associates is a privately held investment firm of Ratan Tata and has offices located in India and Singapore. The firm focuses on funding startups and early-stage enterprises in a broad range of industries including venture, advisory, financial services, social inclusion and technology.

The board of RNT Associates includes Ratan Tata’s half-sisters Shireen Jejeebhoy, Deanna Jejeebhoy, Jamsheed Poncha and Sidharth Sharma.

His departure comes amid a broader wave of governance and leadership changes across Tata-linked institutions over the past several months. The move follows a series of developments involving the governance structure of several key Tata philanthropic entities.

In October 2025, Mistry stepped down as a trustee of Sir Ratan Tata Trust (SRTT), Sir Dorabji Tata Trust (SDTT) and Bai Hirabai Navsari Charitable Institution Trust after his reappointment to the boards of these trusts was not approved by other trustees. Tata Trusts, which hold a 66% stake in Tata Sons, are among the principal philanthropic bodies associated with the Tata group and play a significant role in overseeing charitable initiatives and holding stakes in Tata Sons.

Despite these changes, Mistry continues to serve as a trustee of the Tata Education and Development Trust (TEDT), which focuses on advancing education through scholarships, institutional partnerships, and other initiatives aimed at expanding access to higher education.

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Last month, Mistry widened his challenge to the leadership and governance framework of the Tata Trusts, raising a series of concerns before the Maharashtra Charity Commissioner that extend well beyond his own removal from the Sir Ratan Tata Trust (SRTT).

In filings submitted to the regulator, Mistry questioned trustee appointments, board-level decisions, remuneration arrangements, and governance practices across the Tata Trusts ecosystem. The objections cover issues ranging from compensation and commissions received by certain trustees from Tata group companies to potential conflicts of interest arising from trustees simultaneously holding positions on the boards of group entities.

RNT Associates has invested in over a dozen companies, and primarily invests in Series B rounds in India-based companies, said an observer tracking the group. Its investments are spread across a wide range of sectors.

According to startup circles, RNT Associates’ portfolio included unicorns, IPOs and one acquisition, with notable investments in companies such as Ola, Urban Company, Lenskart, Snapdeal, GirnarSOFT, CarDekho and Moglix. The firm frequently co-invests alongside leading venture capital funds, with firms like Accel sharing a significant overlap in portfolio companies.

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George Mathew is an Associate Editor with The Indian Express, based in Mumbai. A veteran of financial journalism with nearly three decades of experience, he is one of the country’s most authoritative voices on banking, regulation, and the corporate sector.

Expertise & Focus Areas Mathew’s reporting covers the nerve center of India’s economy. His specialized beats include:

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