Face off at Tata Trusts expected to last as Noel Tata and Venu Srinivasan slug it out

The level of disagreement between two key Tata Trustees is again playing out in the open. For the last few weeks, Noel Tata, Chairman, Tata Trusts and Venu Srinivasan, Chairman Emeritus, TVS Motor have had differing and strong views on the listing of Tata Sons, the conglomerate’s holding company.

In a more recent and revealing development, Tata did not in vote in favour of Srinivasan’s continuation as a trustee on Tata Education and Development Trust (TEDT). In line with a new set of rules at the Maharashtra Public Trusts (Amendment) Ordinance, 2025, all appointments and reappointments must be unanimous; the earlier practice was to go on the basis of majority.

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There are a couple of issues here in connection with the Tata Trusts board meeting. Two key reappointments – one is Srinivasan and the other is former Defence Secretary, Vijay Singh – were scheduled to come up. In the light of what has taken place, especially at TEDT, where Singh’s reappointment too did not go through, their tenure at Tata Sons was not considered a done deal.

One-third of Tata Sons’ board is accounted for by Tata Trust nominees. Tata and Srinivasan are the nominees and in the event of the latter’s reappointment not going through on May 16, could have led to a tricky situation.

Two trusts – Sir Ratan Tata Trust and Sir Dorabji Trust – together hold over 51% in Tata Sons. A complaint filed by Katyayani Agarwal, an advocate, said three of six trustees at Sir Ratan Tata Trust are “permanent in nature”, and is in contravention of Section 30A(2) of the Maharashtra Public Trusts Act, 1950 that has now prescribed that proportion to one-fourth.

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Agarwal sought the Charity Commissioner’s intervention on the matter. “The composition must change once the amendment is in effect,” Agarwal told BT earlier today, before making it clear that the complaint was restricted to Sir Ratan Tata Trust.

Importantly, a Tata Trusts statement issued late night on May 15, expressed surprise that a complaint on the same issue was filed by Srinivasan. “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,” it said.

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By the looks of it, this battle has many twists and turns left to play out. “This is only the tip of the iceberg and will be a long power struggle,” says Amit A Tungare, Managing Partner at Asahi Legal. With no clarity yet on the date for the next meeting, all eyes shift to Tata Sons. The board is scheduled to meet next month to discuss, among other things, the renewal of Tata Sons’ Chairman, N Chandrasekaran. The last meeting did not see that going through and that makes the one in June very interesting.