Tata Trusts row: Maharashtra Charity Commissioner seeks response to Srinivasan’s complaint by Oct 12

Amid an ongoing governance dispute at Bombay House, the Maharashtra Charity Commissioner has reportedly sought a response from Tata Trusts by October 12 on a complaint filed by trustee Venu Srinivasan, who has raised concerns over alleged governance and administrative lapses at the Sir Dorabji Tata Trust (SDTT).

The development follows SDTT vice-chairman and trustee Srinivasan’s September 24 complaint seeking a regulatory inquiry into the functioning of SDTT. His concerns include the manner in which trustees were appointed, the decision-making process and the Trust’s role in matters related to Tata Sons.

In response, Tata Trusts filed caveats with the Charity Commissioner on September 30, seeking an opportunity to present its case before any decision is taken on Srinivasan’s complaint. The development comes against the backdrop of an earlier dispute involving the Sir Ratan Tata Trust (SRTT), in which the regulator had restrained the Trust from convening board meetings amid differences over the composition of its trustees, Moneycontrol reported.

Srinivasan, who serves as an SDTT trustee as well as a nominee director on the Tata Sons board, has also questioned Noel Tata’s appointment and continuing position as a perpetual trustee. He has sought clarity on the circumstances under which Noel Tata assumed the chairmanship of Tata Trusts and continues to hold the position, the report noted.

The complaint also raises questions over the appointment of Noel Tata’s son, Neville, as an SDTT trustee. Srinivasan has alleged that he was not involved in the decision-making process surrounding the appointment.

Governance dispute deepens at Tata Trusts

In a letter to SDTT trustees dated September 29, Srinivasan said they were surprised to learn from public sources about a September 28 communication purportedly issued on behalf of SDTT and Sir Ratan Tata Trust (SRTT), the principal shareholders of Tata Sons. The communication asked the Tata Sons board to consider and approve a strategic reorganisation involving the merger of Tata Electronics Systems Solutions Pvt Ltd (TESS) and Tata Consulting Engineers (TCE) with Tata Sons.

The September 29 letter follows a series of developments that have deepened the governance dispute within the Tata Trusts. On September 16, SDTT passed a circular resolution seeking to restrain Srinivasan from participating in or voting on the proposed Tata Sons listing in his capacity as a nominee director. Srinivasan subsequently approached the Charity Commissioner, challenging the move. His complaint has also questioned Noel Tata’s status as a perpetual trustee, the basis of his chairmanship of Tata Trusts and the appointment of Neville Tata.