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- Maharashtra Charity Commissioner Notice To Tata Trusts | Venu Srinivasan
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Venu Srinivasan is the Chairman Emeritus of TVS Motor Company and a Trustee of ‘Tata Trusts’, the main holding entity of the Tata Group. (file photo)
Maharashtra Charity Commissioner has issued a notice to Tata Trusts and sought their reply by October 12. This action follows a complaint by trustee Venu Srinivasan alleging irregularities in the Sir Dorabji Tata Trust. Srinivasan had demanded an investigation into the matter on September 24.
According to Srinivasan, Tata Trusts is now deviating from its main work of social service and interfering in the business decisions of companies. The trustees themselves are engaged in arranging, negotiating and finalizing big business deals, which is against the rules of charity trust.
4 big things related to Srinivasan’s complaint…
- Direct interference in business deals: Tata Trusts is accused of taking direct part in finalizing the commercial deals of Tata Sons.
- Deviation from charitable purpose: The question has been raised whether a charitable trust’s involvement in business deals in this way is not against its rules and objective of social service.
- Questions on appointment of trustees: On what basis and under what rules are the new trustees being selected in the trust? Questions have been raised on the transparency of the trust’s functioning.
- Making Noel Tata life trustee: Objection has been raised to the status of retaining Noel Tata as trustee forever and it has been said to be against the rules.
Tata Trusts had already filed the petition
Tata Trusts had filed petitions before the Charity Commissioner on September 30. The aim of the Trust was to ensure that no order was passed on Srinivasan’s complaint without hearing his side. Now the Trust has time till October 12 to present its side.
There is a controversy related to Sir Ratan Tata Trust
This new controversy has come to light at a time when another trust of the Tata group is already in controversy. Earlier, the Charity Commissioner had banned board meetings in the Sir Ratan Tata Trust due to the ongoing tussle over the appointment of trustees. Even though these two matters are different, the root of both is related to the methods of running the trust.
Charity Commissioner will take a decision after the reply
Now all eyes are on October 12, when Tata Trusts will give its reply on these allegations. After listening to the Trust, the Charity Commissioner will decide whether any further investigation or legal action is needed in this matter.
Knowledge Box: What is Sir Dorabji Tata Trust (SDTT)?
Established in 1932, it is a core part of Tata Trusts, which funds education, health and disaster relief.
Powers of the Charity Commissioner: Under the Maharashtra Public Trust Act, the Charity Commissioner has the power to investigate irregularities in the functioning of trusts, funds and appointment of trustees.
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