Venu Srinivasan, the Chairman emeritus of TVS Motor, and the Vice Chairman and trustee to seven trusts of the Tata Group, has tendered his resignation from Bai Hirabai Charitable Trust (Tata Trust), citing preoccupation with other businesses.
Srinivasan’s resignation has come in the backdrop of former trustee Mehli Mistry challenging the eligibility of two trustees, including Srinivasan and Vijay Singh.
Sources privy to the development told ANI that Mistry, in an objection-application filed to the Maharashtra Charity Commissioner, has contended that two trustees of the said Trust — Srinivasan and Singh never met the qualifications to be appointed as trustees to the Bai Hira Bai trust and stand expressly disqualified under the Trust Deed. Mistry has argued that, under Clauses 6 and 18, of the said Deed, any such disqualified trustee must be treated as “deemed dead.”
He specifically claims that Venu and Vijay have never been of the Parsi Zoroastrian faith and do not have permanent residence in Mumbai. Thus, they are deemed to attract automatic disqualification. On this basis, Mistry has sought a suo motu inquiry by the State’s Charity Commissioner and requests the authority to direct all trustees to file affidavits confirming their eligibility.