Charity commissioner halts Tata Trusts board meeting after Srinivasan's complaint

Bengaluru/Mumbai: A surprise intervention by Tata Trusts vice-chairman Venu Srinivasan, along with two other complainants, has prompted the Maharashtra charity commissioner to cancel a crucial board meeting of the trust scheduled Saturday to decide his continuation on the Tata Sons board.

The charity commissioner’s directive does not spell out the details of Srinivasan’s complaint and only states that his complaint was of “similar nature” to the one made by lawyer Katyayani Agrawal, who had alleged that three members of the six-member Sir Ratan Tata Trust were permanent trustees in alleged violation of the Maharashtra Public Trusts Rules that stipulate not more than a fourth of trustees can be lifetime members.

The complaint by industrialist Srinivasan, who is also the trust’s representative on the board of Tata Sons, is arguably the first time in recent memory that a sitting Trustee has alleged wrongdoing at the Tata Trusts, which own Tata Sons, the holding company of the Tata Group.

“Complaint/representation by Adv. Katyayani Agrawal is specifically addressed to the Charity Commissioner. It is clear from the text that Mr. Venu Srinivasan also made a representation to the Charity Commissioner. The issues highlighted by them are serious and require due consideration,” said a letter, dated 15 May, by Amogh S. Kaloti, Maharashtra charity commissioner, to the Tata Trustees.

Srinivasan’s action and the charity commissioner’s late Friday communication not to hold the meeting on 16 May have caught five of the six trustees of the Sir Ratan Tata off guard, according to an executive privy to the development.

The letter stated that Srinivasan’s complaint was received via email on 28 April. A “complaint of similar nature dated 28-04-2026 by one Venu Srinivasan - Trustee of Sir Ratan TATA Trust - was also received through E-mail," it noted.

“An Inspector inquiry into these complaints has already been ordered and a report of the inquiry is awaited. In case, a meeting of the Board of Trustees is called and any important decisions regarding the administration, management or composition of the Trust are taken during pendency of the said inquiry, that would lead to further complications and multiplicity of the proceedings. It would therefore be in the interest of the Trust as well as interest of justice that such meeting is deferred till submission of report of the Inspector inquiry report,” the letter noted.

Invoking powers under Section 36A(1) and other provisions of the Maharashtra Public Trusts Act, the charity commissioner directed the board of trustees of Tata Trusts to defer the board meeting scheduled to be held on 16 May. "It is further directed not to hold any such meeting till submission of report of Inspector inquiry,” said the notice.

An email sent to Srinivasan seeking a comment went unanswered.

Over the last month, three legal notices have been served on Tata Trusts, seeking an adjournment of the Tata Trusts meeting.

First, lawyer Agrawal had complained to the Maharashtra charity commissioner in April that three among its six trustees—Noel Tata, Pune philanthropist Jehangir HC Jehnagir, and Jimmy Tata—were permanent trustees. This, she alleged, violated rules that capped the number of lifetime trustees at a fourth of the total number of trustees.

This was followed by a complaint before the Bombay High Court, including a vacation bench, seeking a directive to stop the Tata Trusts from convening a meeting. Both the Bombay High Court and the two-judge bench had refused to pass any order.

Last week, another individual, Sunil Tulsiram Patilkhede, through his lawyer, Katyayani Agrawal, sent a legal notice to the six trustees of the Sir Ratan Tata Trust (SRTT), which owns 23.56% of Tata Sons, the holding company of the Tata Group. Patilkhede’s complaint concerns an alleged wrongdoing in the transfer of shares from one of the trusts to late Ratan Tata’s father in 1989.

All these complaints, including Srinivasan’s, come at a sensitive time for Tata Trusts, which wanted to discuss Srinivasan’s continued tenure as a Tata Trusts nominee on the Tata Sons board.

They have also brought to the fore the differences between Tata Trusts chair Noel and the vice-chairmen, Srinivasan and retired defence secretary Vijay Singh.

Earlier this month, Noel Tata opposed the reappointment of TVS chairman emeritus Srinivasan and another trustee, Vijay Singh, at a Tata Trusts affiliate, Tata Education and Development Trust (TEDT).

Tata Trusts, which had initially agreed to meet on 8 May, deferred the meeting at the last minute to 16 May.

Now, the Trustees will have to wait longer for the state charity commissioner to give its go-ahead to hold the meeting.

Noel Tata, Srinivasan, Singh, Jimmy Tata, Jehangir, and Mumbai-based lawyer Darius Khambata are the six trustees of SRTT.

Sir Dorabji Tata Trust (SDTT) and SRTT control 51.4% of Tata Sons, while six smaller trusts own another 14.36%, taking the total ownership in the apex Tata company to 65.9%.

Tata Trusts statement

“The directions received from the Office of Charity Commissioner are being examined by the Sir Ratan Tata Trust,” said the Tata Trusts in a late-night statement. “The direction was issued ex-parte,” said Tata Trusts, adding that “no notice being given to the Sir Ratan Tata Trust and no hearing being afforded to it, before the direction was issued”

Tata Trusts maintains that all three of its trustees of SRTT, including Noel Tata, Jimmy Tata and Jehangir HC Jehangir, were made permanent trustees much before the Maharashtra Public Trust’s rule, which capped the lifetime of trustees at a fourth of the total trustees, came into effect late last year.

“It is the understanding of the Tata Trusts that the said amendment is prospective in nature and does not affect the appointments of perpetual trustees made prior to its coming into force on 1st September 2025. This is substantiated by both opinions and clarifications obtained by the Tata Trusts,” said Tata Trusts.

“Sir Ratan Tata Trust was not aware of any complaint having been filed by Mr. Venu Srinivasan, Trustee, until the receipt of directions from the Charity Commissioner today,” said Tata Trusts. “Mr. Venu Srinivasan had previously acknowledged the notice of the Board meeting originally scheduled to be held on 8 May, 2026 and the notice of the meeting rescheduled to 16 May, 2026,” said the statement.