New Delhi, Sept. 21 -- The dispute engulfing Tata Sons has several dimensions: disagreement over the reappointment of its chairman, differences between its board and Tata Trusts and the interests of the Shapoorji Pallonji group, which owns 18.4%.

Overarching these is the Reserve Bank of India's position, which could require Tata Sons to list its shares. Each issue is important. Yet the controversy risks obscuring something larger.

Tata Sons represents an rare legacy in global capitalism. Two-thirds of this apex holding company is owned by charitable trusts that are wholly committed to philanthropy. The dividends support healthcare, education, nutrition, livelihoods, scientific research, culture and institution-building. These aims date ...