Tata Trust: Venu Srinivasan becomes lifetime trustee amid internal differences, focus on Mehli Mistry

Tata Trust has unanimously reappointed Venu Srinivasan as a lifetime trustee.

Amid reported internal differences within the organization, all eyes are now on the decision regarding Mehli Mistry’s return.

Srinivasan’s term was set to expire on October 23, but his reappointment was approved earlier this week. This decision comes amid reports of division within Tata Trust, where one faction is said to be aligned with Noel Tata. Noel assumed the chairman position after Ratan Tata’s passing. The other faction consists of loyalists of the former veteran.

A source with direct knowledge of the matter stated that Srinivasan, honorary chairman of the TVS Group, was reappointed unanimously. Tata Trust declined to comment on this news.

Attention is now focused on Mistry’s reappointment, whose term ends on October 28. Opinions are divided on whether his term will automatically extend or if it requires unanimous approval from trustees for a lifetime term.

Tata Trust holds a 66 percent stake in Tata Sons – the holding company of the 156-year-old Tata Group. This includes approximately 400 companies, including 30 listed entities.

One source said, “According to previous practice, renewal and new appointments must be unanimous.” However, another person stated, “Reappointment happens automatically and applies to all trustees.”

Citing the joint meeting of trustees of Sir Dorabji Tata Trust and Sir Ratan Tata Trust held on October 17, 2024, that person said it was resolved that when any trustee’s term ends, the relevant trust would reappoint them without any term duration limit.

Additionally, according to the October 17, 2024 resolution, all trustees will be appointed on a long-term and lifetime basis, with trusteeship to be reconsidered upon reaching 75 years of age.