Fresh governance concerns have surfaced at the Sir Ratan Tata Trust after reports said two of its three life trustees may need to resign to comply with Maharashtra public trust rules.
Current regulations limit life trustees to one-fourth of the total board strength. With six trustees on the board and three holding life positions, the trust may be above the permitted limit. The matter has reportedly reached the Maharashtra Charity Commissioner.
The development is significant as Tata Trusts remains the key shareholder of Tata Sons.