Ahead of Tata Sons meet, Mistry blocks reappointment of 2 trustees

Mehli Mistry, a former trustee, has blocked the reappointment of Venu Srinivasan and Vijay Singh to the Tata Education and Development Trust. His dissent prevented the required unanimous approval, escalating tensions ahead of a key May 8 Tata Sons meet.

Ahead of the crucial, highly anticipated May 8 meeting of Tata Sons, where the board is set to review trustee representation and deliberate on a possible listing as a public company, former trustee Mehli Mistry has explained why he voted against the reappointment of Venu Srinivasan and Vijay Singh to the Tata Education and Development Trust (TEDT). The duo's tenure will now end on May 10 after Mistry's dissent blocked the required unanimous approval.In a communication to trustees, Tata Trusts CEO Siddharth Sharma confirmed that the reappointment resolution failed due to a lack of unanimity under the Maharashtra Public Trusts Act, 1950. He stated that Srinivasan's tenure would formally conclude at the end of the current term and placed on record the board's appreciation for his services.

Mistry Explains His Decision

Mistry, who has been contesting his own removal from the trusts without seeking reinstatement and alleging maladministration within the Tata Trusts, said he stood firmly by his decision to vote against Venu and Vijay. He said that his reasons are detailed in his affidavit filed in response to the change report concerning the Sir Dorabji Tata Trust (SDTT). He referred to the same proceedings where, according to him, trustees had wrongfully voted against him. He had also alleged that Srinivasan participated in that vote without authority, despite his tenure having ended."Dear Siddharth, I do agree and stand by my decision not to renew the reappointment/tenure of both Venu and Vijay on the TEDT Trust. While I do shed crocodile tears for having to take such a decision, I was left with no other option. My affidavit in response to the Change report for SDTT explains the reasons why I chose to take such a decision. Can you please also disclose how all the other trustees voted, as I read in the newspapers that other Trustees have also voted? Kind Regards", wrote Mistry in response to the CEO's letter to all trustees of the Tata Trusts, including Chairman Noel Tata.

High-Stakes Board Meeting Looms

The development comes before the high-stakes Tata Sons board meeting on May 8, where the ongoing rift among trustees is expected to take centre stage, alongside discussions on board representation and the highly-debated prospect of listing the holding company.

Background of the Dispute

To recall, the row within Tata Trusts began in November last year, when Mistry, after being voted against by the Board of Trustees, despite an October 2024 resolution to renew his trusteeship for a lifetime, harmoniously exited from the trusts, citing his commitment to his late friend and former Tata conglomerate supremo Ratan NTata.Mistry had earlier challenged the eligibility of Venu Srinivasan and Vijay Singh's trusteeship in the Bai Hirabai Jamsetji Tata Navsari Charitable Institution (BHJTNCI). Subsequently, in less than twenty-four hours after Mistry's objection, Srinivasan tendered his resignation from BHJTNCI, citing his pre-occupation with other businesses. Singh, however, remains a trustee with the BHJTNCI.Subsequently, Mistry had also formally sought the removal of all trustees who allegedly indulged in maladministration in the SDTT.Mistry, who was allegedly wrongfully ousted from trusts by being voted out by other trustees, now leaves no stone unturned in flagging procedural lapses and going after other trustees whom he officially claims to have indulged in maladministration within the Tata Trusts. (ANI)(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)