Tata Trusts Given Oct 12 Deadline Over Complaints
The Maharashtra Charity Commissioner has asked Tata Trusts to respond by October 12 to complaints filed by two of its trustees.
The complaints come from Venu Srinivasan and Vijay Singh, trustees of the Sir Dorabji Tata Trust, which controls 66 per cent of Tata Sons. They allege mismanagement and interference in the trust’s commercial affairs and have sought an investigation.
The dispute centres on Tata Sons’ future listing. At a September 17 board meeting, the trust tried to limit Srinivasan’s role in voting on the listing. Tata Trusts chairman Noel Tata also opposed the reappointment of N. Chandrasekaran as Tata Sons chairman, while the rest of the board backed him.
Tata Trusts has filed caveats asking that no order be passed without hearing its side. The trust’s letter of October 5 dismissed the concerns.
The Charity Commissioner wrote to the trust on Monday evening. The case adds to a wider governance battle at India’s largest business group.
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