In a significant development, Ratan Tata's close associate and businessman Mehli Mistry has written a letter to Tata Trusts Chairman Noel Tata, informing him of his decision to step down as a trustee, according to sources cited by CNBC-TV18.

As per the sources, Mistry, in his letter, said it had been his privilege to serve as a trustee till October 28, adding that he wished to part ways and put an end to speculative media reports surrounding his position.

According to the sources, Mistry also cautioned that the precipitation of recent matters could cause irreparable damage to the Tata Group, stressing the need for restraint and careful handling of internal issues.

The development comes amid renewed scrutiny of the governance framework and internal dynamics at Tata Trusts, which holds a

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