New Delhi, 30 September (H.S.):

The boardroom dispute within Tata Sons has now reached the office of Maharashtra’s Charity Commissioner, with Tata Sons nominee director and trustee Venu Srinivasan seeking a regulatory inquiry into the functioning and administration of the Sir Dorabji Tata Trust (SDTT).

According to sources, Srinivasan has sought a regulatory examination of the affairs and governance of the SDTT amid the intensifying leadership dispute within the Tata Group.

In a letter to the Charity Commissioner, Srinivasan has raised questions concerning the appointment and current status of Noel N. Tata as a permanent trustee of the SDTT, the appointment of Noel Tata’s son Neville N. Tata, and what he described as attempts to restrict his independent role as a director of Tata Sons.

Srinivasan’s complaint comes at a time when differences have deepened over the leadership of Tata Sons, the possibility of a stock-market listing of the company and the powers and rights of the Tata Trusts. The Tata Trusts, including the Sir Dorabji Tata Trust, collectively hold approximately 66 per cent of Tata Sons.

Srinivasan has alleged that a resolution issued by the SDTT on September 16 sought to prevent him from participating and voting on matters relating to the proposed listing of Tata Sons. He has contended that the move amounted to an attempt to curtail his independent judgment and voting rights.

The following day, at a meeting of the Tata Sons board, Srinivasan supported proposals concerning the reappointment of N. Chandrasekaran as chairman for a third term and the advancement of the company’s listing process.

Noel Tata, chairman of the Tata Trusts, opposed both proposals.

The board of directors of Tata Sons subsequently approved the proposals. Chandrasekaran’s reappointment was passed through a casting vote.

The Tata Trusts later questioned the validity of these decisions, adding another layer to the ongoing dispute over governance and decision-making within Tata Sons.

The latest development brings the disagreement beyond the company’s boardroom and into the regulatory sphere, as questions surrounding the governance of the Tata Trusts, the authority of trustees and the future direction of Tata Sons continue to unfold.

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Hindusthan Samachar / Jun Sarkar