Friday, December 27, 2024

Mehli Mistry joins Tata’s investment co board

Tuesday, October 31, 2023, 19:11
This news item was posted in Business category and has 0 Comments so far.

Mehli Mistry, seen as a close confidant of Ratan Tata, has been inducted on the board of RNT Associates, the personal investment vehicle of the group patriarch. Mistry was inducted in March this year after the death of Tata Group veteran R K Krishnakumar, in January. Tata and Mistry are the only directors of RNT Associates. Mistry’s induction has not been previously reported.RNT Associates has offices in Mumbai and Singapore and has invested in startups such as ikure, cult.fit and Greaves Electric Mobility according to Tracxn data. An email sent to Tata did not elicit a reply till the time of going to press.In October 2022, Mistry was inducted on the boards of two of the largest Tata Trusts, which together own 66% of Tata Sons. He was also inducted on the board of other smaller trusts such as the Tata Education and Development Trust.Mistry is a businessman and a director in companies of the M Pallonji Group comprising sectors such as painting, dredging, logistics solution, shipping, finance , auto dealerships and life insurance. He is also a first cousin of the late Cyrus Mistry. Mehli Mistry was a staunch backer of Ratan Tata in the ugly spat that erupted after Cyrus was ousted as chairman of Tata Sons in October 2016. This is said to have led to estrangement between the cousins.Mehli Mistry has been close to the Tata Trusts chairman since 2000, officials familiar with the matter said. R K Krishnakumar, also a trusted aide of Tata, had joined RNT Associates as a cofounder in 2018 and had been on the board till his demise.

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