A view of Tata Group headquarters Bombay House, near Hutatma Chowk, in Mumbai
| Photo Credit: ANI
The escalating power struggle within Tata Trusts has taken a fresh turn, with Venu Srinivasan, trustee of the Sir Dorabji Tata Trust (SDTT), approaching the Maharashtra Charity Commissioner seeking an immediate inquiry into the trust’s administration and governance.
Mr. Srinivasan said the move was necessary to “preserve the institutional integrity and proper administration of SDTT.”
SDTT, the lead Tata Trust with a 27.98% stake in Tata Sons, has emerged as a key player in the ongoing developments at the group’s holding company. The second-largest trust, the Sir Ratan Tata Trust (SRTT), which holds 23.56%, has had its voting rights effectively paralysed since May after the Charity Commissioner began examining a complaint filed earlier by Mr. Srinivasan in his capacity as an SRTT trustee.
In his latest complaint, Mr. Srinivasan alleged that SDTT’s growing involvement in Tata Sons’ commercial and strategic decisions could jeopardise its charitable status.
“SDTT is a public charitable trust and its substantial shareholding in Tata Sons cannot result in the Trust itself assuming the functions of a commercial enterprise or participating directly in the conduct of Tata Sons’ business affairs,” he said.
Citing recent Tata Trusts announcements, Mr. Srinivasan alleged that the trusts, through their chairman and operating team, had taken a direct role in identifying, negotiating and implementing major commercial decisions involving Tata Sons — activities he claimed were beyond their charitable mandate.
He warned that such conduct could expose SDTT’s charitable corpus to significant tax implications under provisions governing non-profit organisations’ commercial activities.
“Such conduct constitutes mismanagement of the affairs and property of SDTT and a breach of duties owed by its trustees,” he said.
Mr. Srinivasan also accused SDTT of attempting to influence the independent functioning of nominee directors on the Tata Sons board. Referring to SDTT’s September 16 circular restraining him from participating in or voting on the proposed listing of Tata Sons, he said the move was “an extraordinary attempt to prevent me from exercising my independent judgement and vote.”
He described it as part of a broader effort to “suppress differing views and concentrate decision-making power within a smaller group of trustees.”
The complaint seeks a probe into the appointment and continuation of Noel N. Tata as perpetual trustee and Chairman of Tata Trusts, the appointment of his son Neville N. Tata, his [Mr. Srinivasan] exclusion from related decision-making processes, and the role of SDTT trustees in Tata Sons’ affairs.
Mr. Srinivasan has also sought directions preventing Noel Tata from participating in SDTT decisions related to appointing or instructing Tata Sons nominees, or exercising voting rights on behalf of the trust at Tata Sons’ general meetings.
The latest confrontation follows the September 17 Tata Sons board meeting, where Mr. Srinivasan supported another term for Chairman N. Chandrasekaran and compliance with the Reserve Bank of India’s directive on listing Tata Sons. Noel Tata opposed both positions, bringing differences between Tata Trust nominee directors into the open.
Mr. Srinivasan has asked the Charity Commissioner to maintain the status quo on SDTT’s trustee composition and prevent any appointment, removal, retirement or induction of trustees until the inquiry is completed.
Any regulatory intervention affecting SDTT could significantly restrict the functioning of Tata Trusts, which collectively own 66% of Tata Sons. With SDTT and SRTT together holding over 51%, the trusts remain the controlling shareholders of the conglomerate.
Published – September 30, 2026 08:05 pm IST
