Putting a “quietus on speculative news” about his role, businessman Mehli Mistry, a trustee of Tata Trusts whose term was not renewed last week, today made it official, saying he is “parting ways” with Tata Trusts.

Tata Trusts own 66% in Tata Sons, which in turn oversees 30 firms within one of India’s most storied business groups – including companies such as Air India, Tata Steel and Jaguar Land Rover.

“I have been made aware of the recent reportage surrounding my trusteeship in the Tata Trusts…I believe this letter should assist in putting the quietus on speculative news reports that do not serve the interest of the Tata Trusts and are inimical to its vision,” Mehli Mistry said in a letter addressed to the trustees.

The decision comes a day after reports stated that Mehli Mistry will challenge the Tata Trusts’ decision not to extend his trusteeship before the Maharashtra Charity Commissioner.

A senior executive at M Pallonji Group which has business interests in logistics and shipping, Mistry was one of the trustees on the executive committee of Tata Trusts, whose charity work includes healthcare, education and rural support.