ET Exclusive: Venu Srinivasan Seeks Probe Into Tata Trusts over Alleged Governance Lapses
Srinivasan alleges governance lapses and says the trust’s role in Tata Sons decisions could threaten its tax-exempt status, according to his letter.
- Venu Srinivasan, trustee of the Sir Dorabji Tata Trust , asked the Maharashtra Charity Commissioner for an inquiry into the trust's administration, alleging "serious governance lapses" regarding its involvement in commercial affairs.
- Srinivasan questioned Noel Tata's status as a perpetual trustee and cited amendments to the Maharashtra Public Trusts Act effective September 1, 2025, which introduced a statutory cap on perpetual trustees serving on public trust boards.
- The letter warned that direct involvement in Tata Sons' commercial transactions could violate the Income Tax Act, 2025, constituting a "specified violation" that could lead to cancellation of the trust's tax registration.
- Pending the inquiry, Srinivasan requested that the regulator prevent SDTT from convening board meetings and sought to restrain Noel Tata from voting on Tata Sons matters covered by the Articles of Association.
- Similar governance concerns previously led the Maharashtra Charity Commissioner to bar the Sir Ratan Tata Trust from meetings in May, while Tata Trusts owns 66% of Tata Sons, which recently unveiled restructuring plans.
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15 Articles
Feud escalates at Tatas as Srinivasan moves Charity Commissioner against SDTT
“SDTT is a public charitable trust and its substantial shareholding in Tata Sons cannot result in the Trust itself assuming the functions of a commercial enterprise or participating directly in the conduct of Tata Sons’ business affairs”
Venu Srinivasan Seeks Probe by Charity Commissioner into Tata Trust Governance
Get latest articles and stories on Business at LatestLY. Sir Dorabji Tata Trust trustee Venu Srinivasan has sought an immediate inquiry by the Maharashtra Charity Commissioner into alleged governance lapses at the trust, questioning Noel Tata’s perpetual trusteeship and alleging attempts to prevent him from voting on the proposed listing of Tata Sons. Business News | Venu Srinivasan Seeks Probe by Charity Commissioner into Tata Trust Governance.
Tatas boardroom tussle: Srinivasan has appealed to the Charity Commissioner to immediately initiate an inquiry into the administration of Tata Trusts and suspend or dismiss erring trustees if necessary.
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