New Delhi, July 2 -- Long-time associate of the late Ratan Tata and former trustee of various Tata Trusts, Mehli Mistry, has resigned as a Director of RNT Associates Private Limited, the private investment firm owned by the late industrialist that manages an investment portfolio worth over Rs.1,000 crore and holds stakes in companies including Ola Electric and Urban Company.

An official privy to the development confirmed that Mistry's resignation follows his decision to step down as a trustee of the Ratan Tata Endowment Trust (RTET) and the Ratan Tata Endowment Foundation (RTEF). With the trusteeship changing hands, the directorship of RNT Associates was also transferred to the new trustees in accordance with Ratan Tata's will.

Explaini...