May 8 is an important date for Tata Sons. The much-awaited board meeting is expected to review trustee representation and deliberate on a possible listing of the Tata Sons as a public company.
According to ANI, former trustee Mehli Mistry, in a communication to the Trustees, explained the rationale for voting against the reappointment of Venu Srinivasan and Vijay Singh to the Tata Education and Development Trust (TEDT).
Mehli Mistry says he had ‘no other option’ in TEDT reappointment vote
In a communication to Tata Trusts CEO Siddharth Sharma, Mistry said he stood firmly by his decision to vote against the two. He said his reasons were detailed in an affidavit filed in response to the change report concerning the Sir Dorabji Tata Trust (SDTT), as per ANI.
He referred to the same proceedings in which, according to him, trustees had wrongfully voted against him.
The ANI report stated that e also alleged that Srinivasan participated in the vote without authority, despite his tenure having ended.
ANI has quoted Mistry’s response to the CEO’s letter.
“Dear Siddharth, I do agree and stand by my decision not to renew the reappointment/tenure of both Venu and Vijay on the TEDT Trust. While I do shed crocodile tears for having to take such a decision, I was left with no other option. My affidavit in response to the change report for SDTT explains the reasons why I chose to take such a decision. Can you please also disclose how all the other trustees voted, as I read in the newspapers that other trustees have also voted? Kind regards,” Mistry wrote in response to the CEO’s letter to all trustees of the Tata Trusts, including Chairman Noel Tata.
Venu Srinivasan’s tenure to end on May 10
The duo’s tenure will now end on May 10 after Mistry’s dissent. In a communication to trustees, Tata Trusts CEO Siddharth Sharma confirmed that the reappointment resolution failed due to a lack of unanimity under the Maharashtra Public Trusts Act, 1950.
Mistry, who has been contesting his own removal from the trusts without seeking reinstatement and alleging maladministration within the Tata Trusts, said he stood firmly by his decision to vote against Venu and Vijay. He said that his reasons are detailed in his affidavit filed in response to the change report concerning the Sir Dorabji Tata Trust (SDTT). He referred to the same proceedings where, according to him, trustees had wrongfully voted against him. He had also alleged that Srinivasan participated in that vote without authority, despite his tenure having ended.
Tata Trust: What’s the agenda for May 8 meeting
The ongoing rift among trustees is expected to take centre stage, alongside discussions on board representation and the highly-debated prospect of listing the holding company.
Tata Trusts row: A recap
Tata Trusts row roughly began in November last year, when Mistry, after being voted against by the Board of Trustees, despite an October 2024 resolution to renew his trusteeship for a lifetime, harmoniously exited from the trusts, citing his commitment to his late friend and former Tata conglomerate supremo Ratan NTata.
Mistry had earlier challenged the eligibility of Venu Srinivasan and Vijay Singh’s trusteeship in the Bai Hirabai Jamsetji Tata Navsari Charitable Institution (BHJTNCI). Subsequently, in less than twenty-four hours after Mistry’s objection, Srinivasan tendered his resignation from BHJTNCI, citing his pre-occupation with other businesses. Singh, however, remains a trustee with the BHJTNCI. Subsequently, Mistry had also formally sought the removal of all trustees who allegedly indulged in maladministration in the SDTT.
Mistry, who was allegedly wrongfully ousted from trusts by being voted out by other trustees, now leaves no stone unturned in flagging procedural lapses and going after other trustees whom he officially claims to have indulged in maladministration within the Tata Trusts.