Mehli Mistry, director of the M. Pallonji Group has joined the board of RNT Associates, the personal investment vehicle of industrialist and chairman emeritus of the Tata Group Ratan Tata, according to a report in The Economic Times (ET) of November 1, 2023. Mistry is seen as a close confidant of the Group patriarch. The report stated that Mistry was inducted in March 2023 after the death of Tata
Group veteran R. K. Krishnakumar in January 2023. Reportedly, Tata and Mistry are the only directors of RNT Associates. "Mistry’s induction has not been previously reported,” stated ET. Mistry serves as a trustee on the boards of the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust which together own 66% of the Group holding company Tata Sons, and the Bai Hirabai J. N. Tata Navsari Charitable Institution.
RNT Associates has offices in Bombay and Singapore and has invested in start-ups in new age industries such as data management for medical devices, online fitness platforms and e-mobility, stated the report, quoting Tracxn, a global platform for tracking innovative companies.
The M. Pallonji Group has interests in painting, dredging, logistics solution, shipping, finance, auto dealerships and life insurance. Mehli is a cousin of former Tata Group chairman, the late Cyrus Mistry.