Reform or legislative overreach? How Maharashtra's amendment to its public trusts law reached Tata Sons' governance
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Summary
In 2025, Maharashtra amended its public trusts law to limit the number of lifetime trustees where a trust’s governing instrument does not specifically provide for their appointment, a change that has placed some of India’s largest business houses, whose controlling shareholders are public trusts in Maharashtra, under regulatory scrutiny.A trust is a fiduciary arrangement whereby a settlor transfers property to a trustee to hold and manage for the benefit of beneficiaries. Private trusts, created
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1 change recorded for this policy.