Venu Srinivasan, chairman emeritus of TVS Motor and the vice-chairman and trustee to seven trusts of the Tata Group, has stepped down from the Bai Hirabai Jamsetji Tata Navsari Charitable Institution (BHJTNCI), citing commitments to other businesses.
Bai Hirabai, a 1923-founded philanthropic trust and part of the Sir Ratan Tata Trust and Allied Tata Trusts, focuses on welfare initiatives for the Parsi community in Navsari through education and healthcare. It shares governance linkages with key entities such as the Sir Ratan Tata Trust. Srinivasan had been serving as a trustee and vice-chairman at BHJTNCI.
His resignation comes shortly after former SRTT trustee Mehli Mistry formally challenged the appointment and continuation of two trustees — Srinivasan and former Defence Secretary Vijay Singh — before the Maharashtra Charity Commissioner. The timing of Srinivasan’s resignation places the move squarely against the backdrop of the dispute.
Email queries sent to Tata Trusts on the matter remained unanswered till press time.
Residency Clause
Mistry’s objection centres on the interpretation of the original trust deed, which lays down specific eligibility criteria for trustees. He has argued that both Srinivasan and Singh do not meet these requirements and should therefore be considered disqualified from holding their positions. The deed, according to his submission, contains provisions that effectively treat ineligible trustees as having ceased to hold office.
A key element of the challenge relates to residency conditions. Mistry has contended that the trust mandates trustees to maintain permanent residence in Mumbai and to be of the Parsi Zoroastrian faith — criteria he claimed the two individuals do not satisfy. On this basis, he has sought regulatory intervention, including a formal inquiry and sworn declarations from all trustees confirming their eligibility.
Beyond questions of qualification, Mistry has also raised concerns around governance. He has argued that the continued functioning of allegedly ineligible trustees could render their decisions invalid and has framed the issue as one of compliance with both the trust’s founding document and broader legal statutes governing public trusts.
At the same time, he said his intervention is not aimed at reclaiming a position within the trust, but at ensuring adherence to its founding principles and safeguarding its intended purpose.
Earlier in February, Mistry had also objected to the position of vice-chairman across Tata Trusts boards, and sought to scrap the position since he said, the original trust deed did not have a provision for it.
Factional Friction
This latest development comes after a series of personnel changes on the Allied Trusts boards. Late January, Pramit Jhaveri, former Citibank chief executive of Citibank and current trustee of Sir Dorabji Tata Trust (SDTT), wrote to Tata Trusts chairman Noel Tata expressing his wish to not be considered for re-appointment when his term ended on February 11.
The second half of 2025 saw Mistry, long-time confidant of late Ratan Tata and Tata Trusts trustee step down after weeks of strife within the ranks. At the time, battle lines seemed to be drawn between two factions with the Trusts – one under Noel Tata, and one under Mistry.
Mistry’s ouster was followed by the appointment of Noel Tata’s son Neville Tata and Tata Group veteran Bhaskar Bhat to the board of SDTT. It was expected that both the key trusts would nominate and appoint a common slate of trustees. However, Neville’s appointment to SRTT continues to be in a limbo, as trustees fail to reach consensus on the matter. At least twice now, meetings have been scheduled to discuss the matter, but the resolution remains unresolved.