Tata Trusts Reappoints Venu Srinivasan as ‘Trustee for Life’
During internal conflicts at the Tata Group, Tata Trusts has reinstated Venu Srinivasan, Chairman Emeritus of TVS Group, as a lifetime trustee, according to reports. This reappointment received complete support from all members.
Attention has now turned to renewing Mehli Mistry's appointment, whose tenure concludes on October 28, and who has been central to disputes within the Trusts.
The 156-year-old Indian business empire is experiencing an unusual internal division within Tata Trusts, creating two opposing groups — one headed by Noel Tata and another by Mehli Mistry.
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Noel Tata, the late Ratan Tata's half-brother, assumed the role of Tata Trusts Chairman in October 2024 after Ratan Tata's death. Mistry, who is related to former Tata Sons chairman Cyrus Mistry and connected to the Shapoorji Pallonji (SP) Group, has allegedly clashed with Noel Tata regarding board selections and governance procedures.
On October 17, 2024, Tata Trusts made an important decision by approving a resolution declaring that trustees completing their terms would receive lifetime reappointments with no restrictions on service duration. The resolution also specified that trustees who oppose another trustee's reappointment would be considered as violating their obligations and unsuitable for serving on the charitable trusts' board.
The resolution highlighted that trustees have "public responsibilities and are specifically entrusted by Ratan N Tata." Former trustees such as JRD Tata, Ratan Tata, Jamshed Bhabha, and R.K. Krishna Kumar all remained in their positions until death.
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Within the Tata Trusts structure, the Sir Dorabji Tata Trust and Sir Ratan Tata Trust collectively control approximately 52 percent of Tata Sons.
At the October 17 meeting, the Trusts established that directors appointed to the Tata Sons board would undergo evaluation when they reach 75 years of age. During this meeting, Noel Tata received his nomination to the Tata Sons board. The Trusts further clarified that violating the lifetime reappointment principle might lead to a reassessment of decisions made during that same meeting.
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The present trustees of Tata Trusts consist of Noel Tata, Venu Srinivasan, Mehli Mistry, Vijay Singh, Pramit Jhaveri, Darius Khambata, and Jehangir Jehangir.
The conflict came into public view last month when the Trust's choices exposed an obvious split between the Noel and Mistry factions. The Mistry group, linked to the SP Group that owns 18.37 percent of Tata Sons, resisted particular appointments, claiming exclusion from important governance decisions.
In September, the Mistry faction challenged the Trusts' choice to reinstate 77-year-old former Defence Secretary Vijay Singh, regarded as a devoted Tata supporter, as a nominee director on the Tata Sons board. They had recommended Mehli Mistry as an alternative, but Noel Tata declined the proposal. Following this, Vijay Singh stepped down from the Tata Sons board.