Tata Trusts vice chairman Vijay Singh has stepped down as a trustee of the Sir Ratan Tata Trust (SRTT), shortly before his current term was due to end on August 14, reported The Economic Times (ET).
Singh has decided not to seek another term and told the daily that he did not wish to be considered for reappointment.
His exit marks the end of a long association with the Sir Trust. However, Singh will continue as a trustee of the Sir Dorabji Tata Trust for another year.
Singh’s exit comes months after fellow Tata Trusts vice chairman Venu Srinivasan stepped down in May from the Tata Education and Development Trust (TEDT).
The departures come at a time when differences among trustees have emerged over appointments and other issues concerning the trusts.
The report said Singh and Srinivasan’s reappointments had been opposed by trustee Mehli Mistry. The objection was based on requirements in the 1923 trust deed that trustees should be practising Parsi Zoroastrians and permanent residents of Mumbai.
The ET report also cited sources who said Singh was unlikely to have secured unanimous support from the other trustees.
The development comes as the Sir Ratan Tata Trust has sought permission from the Maharashtra Charity Commissioner to hold important meetings.
The Charity Commissioner has restrained the trust from holding meetings pending a decision on a complaint concerning the alleged transfer of Navajbhai shares and the appointment of permanent trustees.
According to the report, trustees have said that around Rs 400 crore in charitable disbursements, along with upcoming shareholder decisions, are currently at risk because of the restrictions.
Singh’s departure from the Sir Ratan Tata Trust therefore comes at an important time for the trust, as it deals with questions around trustee appointments and the ability to conduct its regular affairs.