Venu Srinivasan steps down from Tata-linked trust amid eligibility dispute
Resignation follows challenge to trustee qualifications, adding to tensions within Tata Trusts
Venu Srinivasan has resigned from the Bai Hirabai Charitable Trust, citing increasing commitments across his business responsibilities, even as a legal challenge questions his eligibility to serve on the board.
Srinivasan, Chairman Emeritus of TVS Motor Company and Vice Chairman of several Tata Trusts entities, stepped down on Saturday, moneycontrol reported. His exit comes amid an ongoing dispute raised by former trustee Mehli Mistry.
Mistry has approached the Maharashtra Charity Commissioner, contesting the eligibility of Srinivasan and fellow trustee Vijay Singh. He has argued that both individuals do not meet the criteria specified in the trust deed and are therefore disqualified from holding their positions.
According to sources familiar with the matter, the objection cites provisions within the trust deed that require trustees to meet certain conditions, including belonging to the Parsi Zoroastrian faith and maintaining permanent residence in Mumbai. Mistry has contended that failure to meet these requirements renders trustees “deemed dead” under the governing clauses.
He has also called for a formal inquiry and urged authorities to direct trustees to submit affidavits affirming their eligibility.
The trust at the centre of the dispute, the Bai Hirabai Jamsetji Tata Navsari Charitable Institution, was established in 1923 and focuses on welfare initiatives for the Parsi community, particularly in Navsari, Gujarat. It operates as part of the broader Tata Trusts network and shares governance structures with other key entities.
This development marks the latest in a series of governance-related concerns raised by Mistry within the Tata Trusts framework. Earlier this year, he had also questioned structural changes within another trust, arguing that certain proposed positions were not предусмотрed under the original deed.
Srinivasan’s resignation is likely to add a new dimension to the ongoing tensions surrounding governance and eligibility within the Tata Trusts ecosystem.