Crucial Tata Trusts board meeting postponed to May 16

The key issues on the agenda included review of Tata Trusts representation on the board of Tata Sons, differing views among trustees regarding the potential listing of Tata Sons and the issue of perpetual trustees.

The much-awaited board meeting of Tata Trusts scheduled for Friday has been postponed to May 16. The trust has not given any reasons for the postponement, a top official said.

The key issues on the agenda included review of Tata Trusts representation on the board of Tata Sons, differing views among trustees regarding the potential listing of Tata Sons and the issue of perpetual trustees.

According to the agenda of the meeting, the board was expected to discuss the position of two trustees about the listing of Tata Sons on the exchanges. Two of the trustees – Venu Srinivasan and Vijay Singh – had recommended listing of Tata Sons. The argument for the listing of Tata Sons by two trustees is contrary to the resolution passed by Tata Trusts to retain the company as an unlisted entity a year ago.

Following a directive from the Reserve Bank of India requiring upper-layer NBFCs to list, Tata Sons repaid its debt and sought deregistration from that category and a decision from the regulator is awaited. Noel Tata is opposed to a listing as it could dilute the trusts’ veto powers.

The board meet has gained attention amid reports that the resolution proposing the removal of Venu Srinivasan from the Tata Sons board is likely to be put to vote before the trustees.

According to sources, Bhaskar Bhat, who earlier headed Titan Company Ltd, is likely to succeed Srinivasan. Currently, Noel Tata and Venu Srinivasan are on the board of Tata Sons as representatives of Tata Trusts. Bhat is on the board of Sir Dorabji Tata Trust.

The board was also expected to discuss about a complaint filed in the Maharashtra Charity Commissioner’s office about the perpetual/ life-term trustees. The petition, filed by lawyer Katyayani Agrawal of law firm SV & Co, has sought urgent intervention, alleging that Sir Ratan Tata Trust (SRTT), which has three lifetime trustees in a board of six members, violated the provisions of Section 30A of the Maharashtra Public Trusts Act, 1950. This section, introduced through an amendment in September 2025, says perpetual or lifetime trustees can make up only 25 per cent of a public trust’s board. The ratio is now 50 per cent in SRTT.

However, it’s not clear whether the review of Tata Sons board representation and removal/ induction of a member will get unanimous backing of trustees. Earlier, Vijay Singh’s renomination onto the board of Tata Sons was opposed by Mehli Mistry.

The Bombay High Court on Thursday refused to urgently hear a petition seeking an interim injunction against the May 8 board meetings of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, the majority stakeholders in Tata Sons. The petition aimed to stop the two Tata Trusts from holding the scheduled meetings, during which trustees are expected to discuss major governance issues, including a possible restructuring of the Tata Sons board.

The petition was filed by Suresh Tulsiram Patilkhede, a resident of Khopoli in Maharashtra’s Raigad district, who identified himself as someone concerned with the proper administration of the Sir Ratan Tata Trust (SRTT), a public trust regulated under the Maharashtra Public Trusts Act, 1950.

In his plea, Patilkhede contended that SRTT was violating Section 30(A)(2) of the Act, which limits the number of lifetime or perpetual trustees to 25 per cent of the board’s total strength. He pointed out that the trust currently has six trustees, of whom three are lifetime trustees — Jimmy N Tata, appointed in 1989, and Jehangir H C Jehangir and Noel Tata, both appointed in 2019.

Venu Srinivasan and Vijay Singh were voted out of the Tata Education and Development Trust (TEDT) — a relatively smaller entity within the Tata Trusts group – this week after fellow trustee Mehli Mistry opposed their reappointment during the voting process.

The much-awaited board meeting of Tata Trusts scheduled for Friday has been postponed to May 16. The trust has not given any reasons for the postponement, a top official said.

The key issues on the agenda included review of Tata Trusts representation on the board of Tata Sons, differing views among trustees regarding the potential listing of Tata Sons and the issue of perpetual trustees.

According to the agenda of the meeting, the board was expected to discuss the position of two trustees about the listing of Tata Sons on the exchanges. Two of the trustees – Venu Srinivasan and Vijay Singh – had recommended listing of Tata Sons. The argument for the listing of Tata Sons by two trustees is contrary to the resolution passed by Tata Trusts to retain the company as an unlisted entity a year ago.

Following a directive from the Reserve Bank of India requiring upper-layer NBFCs to list, Tata Sons repaid its debt and sought deregistration from that category and a decision from the regulator is awaited. Noel Tata is opposed to a listing as it could dilute the trusts’ veto powers.

The board meet has gained attention amid reports that the resolution proposing the removal of Venu Srinivasan from the Tata Sons board is likely to be put to vote before the trustees.

According to sources, Bhaskar Bhat, who earlier headed Titan Company Ltd, is likely to succeed Srinivasan. Currently, Noel Tata and Venu Srinivasan are on the board of Tata Sons as representatives of Tata Trusts. Bhat is on the board of Sir Dorabji Tata Trust.

The board was also expected to discuss about a complaint filed in the Maharashtra Charity Commissioner’s office about the perpetual/ life-term trustees. The petition, filed by lawyer Katyayani Agrawal of law firm SV & Co, has sought urgent intervention, alleging that Sir Ratan Tata Trust (SRTT), which has three lifetime trustees in a board of six members, violated the provisions of Section 30A of the Maharashtra Public Trusts Act, 1950. This section, introduced through an amendment in September 2025, says perpetual or lifetime trustees can make up only 25 per cent of a public trust’s board. The ratio is now 50 per cent in SRTT.

However, it’s not clear whether the review of Tata Sons board representation and removal/ induction of a member will get unanimous backing of trustees. Earlier, Vijay Singh’s renomination onto the board of Tata Sons was opposed by Mehli Mistry.

The Bombay High Court on Thursday refused to urgently hear a petition seeking an interim injunction against the May 8 board meetings of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, the majority stakeholders in Tata Sons. The petition aimed to stop the two Tata Trusts from holding the scheduled meetings, during which trustees are expected to discuss major governance issues, including a possible restructuring of the Tata Sons board.

The petition was filed by Suresh Tulsiram Patilkhede, a resident of Khopoli in Maharashtra’s Raigad district, who identified himself as someone concerned with the proper administration of the Sir Ratan Tata Trust (SRTT), a public trust regulated under the Maharashtra Public Trusts Act, 1950.

In his plea, Patilkhede contended that SRTT was violating Section 30(A)(2) of the Act, which limits the number of lifetime or perpetual trustees to 25 per cent of the board’s total strength. He pointed out that the trust currently has six trustees, of whom three are lifetime trustees — Jimmy N Tata, appointed in 1989, and Jehangir H C Jehangir and Noel Tata, both appointed in 2019.

Venu Srinivasan and Vijay Singh were voted out of the Tata Education and Development Trust (TEDT) — a relatively smaller entity within the Tata Trusts group – this week after fellow trustee Mehli Mistry opposed their reappointment during the voting process.