Tata Trusts Board Meeting Postponed Amid Legal Inquiry
Tata Trusts board meeting blocked amid inquiry into trustee violations
The Economic Times
Image: The Economic Times
The Maharashtra Charity Commissioner has ordered the Tata Trusts to postpone their upcoming board meeting due to an inquiry into alleged violations of the Maharashtra Public Trusts Act. This decision follows complaints regarding the board's composition and non-compliance with regulations governing perpetual trustees.
- 01The Maharashtra Charity Commissioner, Amogh S. Kaloti, issued the directive under Section 36A(1) of the Maharashtra Public Trusts Act.
- 02Complaints were filed by advocate Katyayani Agrawal and trustee Venu Srinivasan, alleging statutory violations regarding the board's structure.
- 03The Bombay High Court noted that holding the meeting could violate Section 30A(2) of the Act, which limits the number of perpetual trustees.
- 04The board meetings have been rescheduled multiple times, originally set for May 12, then May 8, and now indefinitely postponed.
- 05The trusts were expected to discuss key governance issues, including their representation on the Tata Sons board and the potential listing of Tata Sons.
Advertisement
In-Article Ad
The Board of Trustees of Tata Trusts has been directed by the Maharashtra Charity Commissioner, Amogh S. Kaloti, to postpone its scheduled meeting on May 16 due to an ongoing inquiry into alleged violations of the Maharashtra Public Trusts Act. This directive follows complaints regarding the board's composition, specifically concerning the number of perpetual trustees allowed under Section 30A(2) of the Act. The complaints were filed by advocate Katyayani Agrawal and trustee Venu Srinivasan, prompting the Charity Commissioner to intervene. The Bombay High Court has also weighed in, emphasizing that proceeding with the meeting could contravene statutory mandates. As a result, the trusts, which hold a majority stake in Tata Sons, have indefinitely postponed their key meetings, originally set for May 12 and subsequently moved to May 8. These meetings aimed to review trustee representation on the Tata Sons board and discuss remarks from vice-chairmen regarding a potential listing of Tata Sons. The outcome of the inquiry and its implications for the trusts remain to be seen.
Advertisement
In-Article Ad
The postponement of the board meeting could delay important governance decisions affecting the Tata Trusts and their influence on Tata Sons, impacting stakeholders and beneficiaries.
Advertisement
In-Article Ad
Reader Poll
Should charitable trusts be subject to stricter government oversight?
Connecting to poll...
More about Tata Trusts
NDTV Profit Business Leadership Awards: Celebrating Exceptional Leaders in Indian Industry
Ndtv • May 15, 2026
Bombay High Court Allows Withdrawal of Plea Against Tata Trusts Board Composition
Mint • May 13, 2026
Tata Trusts Postpones Board Meeting Amid Veto Power Concerns
Business Standard • May 8, 2026
Read the original article
Visit the source for the complete story.