A fresh governance dispute has emerged within Tata Trusts, with trustee Venu Srinivasan seeking an inquiry into the administration of two key trusts and questioning the appointments and powers of chairman Noel Tata and his son Neville Tata.
Srinivasan, who is a trustee of the Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust (SRTT), has approached the Maharashtra Charity Commissioner seeking an immediate inquiry into the governance of the trusts. His move adds another layer to the ongoing differences between Tata Trusts and the board of Tata Sons, the holding company of the Tata Group.
In his September 24 letter, Srinivasan questioned the basis on which Noel Tata became a perpetual trustee and subsequently chairman of Tata Trusts. He also raised objections over the appointment of Neville Tata as a trustee of SDTT and alleged that he was excluded from parts of the decision-making process surrounding the appointment.
Srinivasan has also asked the Charity Commissioner to examine the wider role played by the trusts in the commercial and strategic affairs of Tata Sons. His contention is that the charitable trusts have become increasingly involved in decisions concerning the commercial company, raising questions about the separation between their philanthropic objectives and Tata Sons’ business affairs.
Tata Trusts collectively own about 66% of Tata Sons, giving them significant influence over the holding company and, indirectly, the wider Tata Group. Tata Sons has interests across sectors including technology, automobiles, steel, aviation, consumer products and financial services.
The latest dispute is closely linked to the disagreement over the future governance and restructuring of Tata Sons. Srinivasan has supported the proposed listing of Tata Sons, while Tata Trusts have opposed aspects of the process and questioned decisions taken by the Tata Sons board.
A major flashpoint came on September 17, when the Tata Sons board backed the reappointment of N Chandrasekaran as chairman. Tata Trusts subsequently maintained that the resolution was legally invalid because both trust-nominated directors had not supported it. Noel Tata voted against the proposal, while Srinivasan voted in favour. The Trusts have maintained that their nominee directors’ support was necessary under Tata Sons’ Articles of Association.
Srinivasan has separately challenged an SDTT circular resolution that sought to restrict his participation in discussions and voting related to the proposed Tata Sons listing. He has argued that the move attempted to prevent him from exercising independent judgment as a nominee director.
The dispute highlights a complex governance structure in which Tata Trusts, despite being philanthropic organisations, have substantial shareholder rights in Tata Sons. Questions over how trustees should exercise those rights have become increasingly important as the group considers changes to its ownership and corporate structure.
Srinivasan has asked the Charity Commissioner to consider whether trustees should be suspended or removed if an inquiry establishes grounds for such action. He has also sought restrictions on certain decisions involving Noel Tata, including matters connected with Tata Sons. These are requests made by Srinivasan and do not represent findings by the regulator.
The controversy has also widened beyond Srinivasan. Tata Trusts vice-chairman Vijay Singh has approached the Maharashtra Charity Commissioner separately, seeking an inquiry into the trust’s involvement in Tata Sons and raising questions about recent governance decisions.
The Charity Commissioner’s office has been examining developments involving the trusts. The regulatory backdrop has become particularly important after the Sir Ratan Tata Trust faced a freeze earlier this year over issues connected with the Maharashtra Public Trusts Act. The freeze had consequences for Tata Sons, including delays involving its annual general meeting.
Tata Trusts have responded to the latest complaint by filing caveats with the Charity Commissioner’s office, seeking to ensure that they are heard before any order is passed. A caveat allows a party to request prior notice before a court or authority takes a decision affecting it.
Noel Tata became chairman of Tata Trusts in October 2024 following the death of Ratan Tata. The trustees had said at the time that his appointment was unanimously approved. In November 2025, SDTT announced Neville Tata’s induction as a trustee for a three-year term. Srinivasan was also appointed trustee and vice-chairman for three years.
The latest developments therefore involve both personalities and broader questions about corporate governance, trustee powers and shareholder rights. At the centre is the relationship between Tata Trusts and Tata Sons and how decisions affecting the wider Tata Group should be taken.