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Tata Trust Row: Venu Srinivasan Steps Down as Trustee After Eligibility Dispute
Venu Srinivasan has resigned from the Bai Hirabai Charitable Trust. The official reason is business commitments, but the move comes amid a legal challenge by former trustee Mehli Mistry to his and Vijay Singh's eligibility.
Venu Srinivasan, the former chairman of TVS Motors, who was vice chairman of seven trusts belonging to the Tata Group, resigned from his post as vice chairman of the Bai Hirabai Charitable Trust on Saturday. He stated that he resigned due to his engagements in other businesses. The resignation takes place after former trustee Mehli Mistry objected to the eligibility of Srinivasan and another trustee, Vijay Singh, to continue serving as trustees of the trust.
According to ANI, Mehli Mistry has approached the Maharashtra Charity Commissioner, objecting to the eligibility of Srinivasan and Vijay Singh. It is argued that the two have failed to meet the criteria for their appointment as trustees as per the Trust Deed.
Mistry's application cites clauses 6 and 18 of the Trust Deed. According to these provisions, if a trustee is found to be ineligible, they should be legally deemed "deemed dead."
