Tata Trusts governance under scrutiny as Venu Srinivasan seeks inquiry

Venu Srinivasan has sought an inquiry into the governance of Tata Trusts and questioned the appointments of Noel Tata and Neville Tata. The move comes amid wider differences over Tata Sons governance, restructuring and the holding company's listing future.Dispute arises amid Tata Sons' listing and restructuring plans. (File Photo: ITG)New Delhi,Sep 30, 2026 12:13 ISTVenu Srinivasan, trustee of the Sir Dorabji Tata Trust and Sir Ratan Tata Trust, has sought an inquiry into the governance of the two trusts and questioned the appointments of Tata Trusts chairman Noel Tata and his son Neville Tata, reported CNBC-TV18 report.Srinivasan has sought an inquiry into the governance of the two trusts and asked that trustees be suspended or removed if the inquiry finds grounds for such action, CNBC-TV18 reported, citing sources.The development comes amid growing differences within the Tata Trusts over governance and Tata Sons, the holding company of the Tata Group.It also comes days after Tata Trusts proposed a restructuring of Tata Sons that could help the company avoid the mandatory listing requirement imposed under its current regulatory classification. QUESTIONS OVER NOEL TATA'S APPOINTMENTAs per the report, Srinivasan has questioned Noel Tata's status as a perpetual trustee and the basis of his appointment as chairman of Tata Trusts.Noel Tata became chairman of Tata Trusts in October 2024 following the death of Ratan Tata. Tata Trusts had said at the time that the trustees had unanimously approved his appointment. Srinivasan has also questioned the appointment of Noel Tata's son Neville Tata as a trustee and alleged that he has been excluded from key decisions, the report said.Neville Tata was inducted as a trustee of the Sir Dorabji Tata Trust for a three-year term in November 2025. The same announcement had named Srinivasan as a trustee and vice-chairman for three years.Srinivasan is currently a trustee of both trusts and vice-chairman of the Sir Dorabji Tata Trust. The two trusts are among the largest constituents of Tata Trusts, which owns 66% of Tata Sons.GOVERNANCE TUSSLE COMES AMID TATA SONS LISTING ISSUEThe latest dispute comes at a sensitive time for the Tata Group, with Tata Trusts and Tata Sons also locked in a broader tussle over the future structure of the group's holding company.Tata Sons faces a mandatory listing requirement because of its classification as an Upper Layer NBFC under RBI rules. Tata Trusts has been seeking ways to keep the holding company unlisted.On September 28, Tata Trusts proposed merging Tata Electronics Systems Solutions Private Limited (TESS) and Tata Consulting Engineers (TCE) with Tata Sons.The Trusts said the proposed restructuring would give Tata Sons substantial operating revenues and change its regulatory classification, with the resulting entity expected to be neither an NBFC nor a Core Investment Company.The proposal is aimed at changing the regulatory basis that currently creates the listing requirement. It still requires consideration by the Tata Sons board and a no-objection certificate from the RBI.DISAGREEMENTS OVER TATA SONS BOARD DECISIONSThe governance dispute also comes amid disagreements over decisions at Tata Sons.According to the CNBC-TV18 report, Tata Trusts had said a September 17 board resolution to reappoint N Chandrasekaran as chairman of Tata Sons was invalid because it lacked the required support of both trust-nominated directors.The issue of Tata Sons' future structure has added another layer to the differences within the Tata ecosystem.Tata Trusts holds a 66% stake in Tata Sons, giving the trusts a significant role in decisions concerning the group's holding company.- Ends