Noel, others get new deadline on Venu, Vijay row
The Maharashtra Charity Commissioner has granted Sir Dorabji Tata Trust, Noel Tata, and others until October 19 to respond to grievances raised by trust members Venu Srinivasan and Vijay Singh. These two vice-chairmen and trustees of Sir Dorabji Tata Trust (SDTT) have accused the trust of serious governance lapses and questioned its role in Tata Sons' strategic and commercial affairs.
Noel Tata, who chairs Tata Trusts, holds about 66% of Tata Sons through SDTT and Sir Ratan Tata Trusts. The two dissenters have also raised concerns over his ongoing status as a perpetual trustee and the appointment of Neville Tata. Srinivasan, a nominee director on the Tata Sons board, questioned the growing influence of charitable trusts and their trustees in Tata Sons' business decisions.
They cited the trusts' proposal to explore alternatives to listing the holding company and Neville Tata's proposal to provide liquidity to the Shapoorji Pallonji Group.
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