Tata Trusts get October 12 deadline on trustees’ complaints
Mumbai, October 6: The Maharashtra Charity Commissioner has given Tata Trusts time till October 12 to respond to complaints filed by trustees Venu Srinivasan and Vijay Singh.
The commissioner wrote to the Sir Dorabji Tata Trust on Monday evening. The trust is the largest shareholder of Tata Sons.
Srinivasan, chairman emeritus of TVS Motor, and Singh, a former defence secretary, filed their complaints on September 25. They alleged the trust's direct involvement in the commercial affairs of Tata Sons and interference with independent decision-making by nominee directors.
Srinivasan also complained of an attempted power grab. He said the trust tried to stop him from voting on Tata Sons' listing at its September 17 board meeting. He has asked the commissioner to restrain chairman Noel Tata from voting at the company's annual general meeting.
The trust dismissed the concerns in a letter dated October 5 and filed caveats to ensure no one-sided orders are passed. The dispute deepens the governance battle at India's biggest conglomerate.
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