Venu Srinivasan questions Noel Tata’s appointment as Tata Trusts chairman, writes to Charity Commissioner

He has sought an inquiry into the administration and governance of the trust.
His letter raises 3 issues. First, the appointment of Noel Tata as perpetual trustee, and the basis on which he holds the chairmanship of Tata Trusts. Second, the appointment of Neville Tata as trustee in November 2025, and

Srinivasan’s exclusion from that process. Third, the trust’s involvement in the business affairs of Tata Sons.

Srinivasan Challenges Noel Tata

Srinivasan has also sought directions for Noel Tata to recuse from certain decisions. These relate to nominating representatives for Tata Sons general meetings, and voting on Article 121 matters on the Tata Sons board.

He has asked that the trust hold no meetings or circular resolutions, and make no changes to its board, until the inquiry is complete.

The letter follows a series of developments this month.

On September 16, SDTT circulated a resolution seeking to restrain Srinivasan from voting on the proposed listing of Tata Sons. Srinivasan is a nominee director on the Tata Sons board, jointly appointed by SDTT and the Sir Ratan Tata Trust. He went on to vote in favour of the listing at the board meeting.

Noel Tata was the only director to vote against it.

On September 17, Tata Trusts said Tata Sons should explore options other than listing. The Trusts said they had resolved in July 2025 that Tata Sons should remain unlisted. This followed a communication from RBI on September 11.

The same day, Noel Tata placed a proposal before the Tata Sons board to provide liquidity to the SP Group. It includes a buyout in 2 tranches and a selective capital reduction through the NCLT.

Srinivasan argues this amounts to the Trusts taking a direct role in commercial transactions. He says this may not be in line with the trust’s charitable objects.
He has also pointed to the tax implications. Under the Income-tax Act, 2025, registered charities can carry out commercial activity only within set limits. A violation can lead to cancellation of registration and tax on the trust’s accreted income.

The Tussle Over Tata Trusts

This is not the first time the Charity Commissioner has been approached on the Tata Trusts.

In April, advocate Katyayani Agrawal filed a complaint on the board of the Sir Ratan Tata Trust. It said 3 of the trust’s 6 trustees are perpetual trustees. The amended law caps perpetual trustees at one-fourth of the board.

In May, the Charity Commissioner barred SRTT from holding meetings or taking decisions. That order also referred to a complaint by Srinivasan dated April 28.

Tata Trusts has said the amendment applies only to future appointments. It says perpetual trustees appointed earlier are not affected.

With SRTT restrained, SDTT is the only one of the 2 main trusts currently able to take decisions on Tata Sons. Srinivasan’s letter now asks for similar restraint on SDTT.

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