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The Tata boardroom drama has now moved into the trustees' room, and the letters are getting sharper.

Noel Tata and three fellow trustees of the Sir Dorabji Tata Trust (SDTT) have sent a five-page letter to colleagues Venu Srinivasan and Vijay Singh. Its target is their public backing for listing Tata Sons, which the letter sarcastically calls an "epiphany" that struck in April. The four say the pair never raised the idea at three SDTT board meetings since April and chose the media over their co-trustees instead. The letter also lays bare the arithmetic inside SDTT: four tru...