What is the disagreement among the Tata Trusts trustees?

Venu Srinivasan, the vice-chairman of the Sir Ratan Tata Trust and Sir Dorabji Tata Trust, has expressed reservations about the induction of Neville Tata and Bhaskar Bhat into the trusts.

How did the appointments of Neville Tata and Bhaskar Bhat play out?

Neville and Bhat were appointed to the Sir Dorabji Tata Trust, but not the Sir Ratan Tata Trust, as Srinivasan rejected their induction in the latter trust.

What is the role of the new Maharashtra ordinance in this situation?

The new ordinance limits permanent trustees to 25% of the board, making the earlier decision to appoint Srinivasan as a permanent trustee invalid.

Home / Business and Economy / Tata Trusts Trustees Clash Over New Appointments Amid Regulatory Changes

Tata Trusts Trustees Clash Over New Appointments Amid Regulatory Changes

13 Nov

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Summary

Venu Srinivasan opposes induction of Neville Tata and Bhaskar Bhat into Tata Trusts
Neville and Bhat appointed to Sir Dorabji Tata Trust, but not Sir Ratan Tata Trust
New Maharashtra ordinance limits permanent trustees to 25% of the board

Tata Trusts Trustees Clash Over New Appointments Amid Regulatory Changes

In the latest development within the Tata Trusts, a disagreement has emerged among the trustees over the induction of new members. According to the article, Venu Srinivasan, the vice-chairman of the Sir Ratan Tata Trust (SRTT) and Sir Dorabji Tata Trust (SDTT), has expressed reservations about the appointment of Neville Tata, the son of Trusts chairman Noel Tata, and Bhaskar Bhat, a former chief of Titan Industries.

While the SDTT went ahead and appointed Neville and Bhat, the SRTT did not. Srinivasan reportedly stated that their induction was not on the agenda and needed further discussion. This disagreement comes as a new Maharashtra government ordinance has now limited permanent trustees to a quarter of the board, making the earlier decision to appoint Srinivasan as a permanent trustee invalid.