Sir Dorabji Tata Trust files reply to Maharashtra Charity Commissioner over trustee complaints

Sir Dorabji Tata Trust (SDTT) filed a reply on Monday with the Charity Commissioner’s office. The response related to complaints filed by SDTT trustees Venu Srinivasan and Vijay Singh. People aware of the matter said the reply was submitted late on Monday evening. The contents were not immediately known.

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Srinivasan and Singh had approached the Maharashtra Charity Commissioner with separate complaints. They alleged irregularities in appointing trustees at SDTT. They also claimed nominee directors were blocked from taking independent decisions. The complaints came during a long-running dispute within the Tata group.

Sir Dorabji Tata Trust complaints name Noel Tata and Neville

The complaints by Srinivasan and Singh named SDTT chairman Noel Tata and vice chairman Neville. Neville is Noel Tata’s son. Reports said the filings questioned why Noel was made a perpetual trustee on SDTT. They also raised governance concerns at the trust, including claims about SDTT’s role in Tata Sons matters.

SDTT holds close to a 24 per cent stake in Tata Sons. This makes SDTT the largest shareholder in the holding company. Tata Sons sits at the top of India’s largest conglomerate. The trust’s shareholding gives SDTT major influence through ownership, even as its actions are under review.

Sir Dorabji Tata Trust reply filed after deadline extension

The Charity Commissioner first gave SDTT time until October 12 to respond. The deadline was later extended to October 19. People in the know confirmed the trust filed within the extended timeline. However, details of the arguments made in the reply were not available soon after filing.

According to reports, the complaints also alleged SDTT interfered in commercial decisions at Tata Sons. After moving the Charity Commissioner, Srinivasan and Singh also wrote to other SDTT trustees. They also wrote to trustees leading Sir Ratan Tata Trust (SRTT). SRTT is a sister trust under Tata Trusts.

Sir Dorabji Tata Trust dispute links to Tata Sons listing plan

Srinivasan and Singh claimed they were kept out of SDTT decision-making. They pointed to an SDTT merger proposal involving Tata Sons. The proposal related to whether Tata Sons could avoid the RBI’s listing mandate. Tata Trusts has also proposed listing Tata Sons along with two subsidiaries.

The proposed structure would make Tata Sons a holding-cum-operating company. That would mean Tata Sons is not only a holding company. The Charity Commissioner is now considering the complaints and SDTT’s reply. The filing marks the latest step in the continuing dispute involving SDTT’s governance and Tata Sons decisions.

With inputs from PTI