Tata Trust Row: Venu Srinivasan Steps Down as Trustee After Eligibility Dispute

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."

Mehli Mistry's main argument is that these two officials do not meet two basic requirements to become a trustee. Neither of them has a permanent residence in Mumbai. Based on these arguments, Mistry has requested the State Charity Commissioner to initiate a suo motu investigation into the matter. He has also appealed for a direction that all current trustees file affidavits confirming their eligibility.

The Bai Hirabai Jamsetji Tata Navsari Charitable Institution (BHJTNCI) was established in 1923. According to the Tata Trusts website, it is a charitable organization focused primarily on Parsi and community welfare in Navsari, Gujarat. Its primary areas of work are education and healthcare. It is part of the affiliated Tata Trusts and shares its board of directors with the Sir Ratan Tata Trust.