Amid Mehli’s challenge, Venu quits a Tata trust

TVS Motor chairman emeritus Venu Srinivasan has stepped down from the board of the Bai Hirabai Jamsetji Tata Navsari Charitable Institution (BHI), citing preoccupation with his business, according to people aware of the development.The move comes amid former BHI trustee Mehli Mistry's challenge to the trusteeships of non-Zoroastrians and his demand for a regulatory probe. In a petition filed with the Maharashtra Charity Commissioner on Friday, Mistry argued that the trust’s 1923 deed bars non-Zoroastrians and non-Mumbai residents from serving as trustees.The restrictions specifically apply to BHI and not to the other nine Tata Trusts, such as the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, where Srinivasan continues to serve on the board, said the people.

He resigned from BHI on Friday, they added. Srinivasan did not reply to an emailed query on the matter.Current BHI trustees include Noel Tata, Jimmy Tata, Jehangir Jehangir, Darius Khambata and Vijay Singh. It remains unclear whether Singh, a former defence secretary, will reconsider his position. He declined to comment on Mistry’s petition.Mistry contended that both Srinivasan and Singh have “never been, and cannot be, of Parsi Zoroastrian faith” and lack permanent residence in Mumbai, thus disqualifying them under the 1923 deed.

He sought affidavits from all trustees affirming compliance with the eligibility criteria. The 1923 deed also states that a trustee who ceases to profess the Zoroastrian faith “shall cease to be a trustee as if he were dead.” If any trustees are found unqualified, the BHI board could fall below the minimum required five; the trust deed stipulates that the total number of trustees shall not exceed eight or be fewer than five.Mistry asserted that Srinivasan and Singh’s appointments are void from inception, and any actions they took as trustees including their votes against his trusteeship extension are non est in law and without authority. Their appointments and actions, he claimed, constitute cheating, fraud, and criminal breach of trust, amounting to maladministration under the Bharatiya Nyaya Sanhita, 2024, and the Maharashtra Public Trusts Act, 1950.Mistry’s trusteeship at BHI was not renewed last year following a vote by Srinivasan, Singh and Noel against it. He made all six trustees parties to his petition. He also sought the appointment of an administrator in light of alleged “illegalities” in the trust’s governance. He submitted that no meetings have been held at BHI “over the past two years, with no regard for the trust’s beneficiaries or its charitable legacy.”

He also asked the commissioner to call for minutes of all meetings held during this period and to inspect all records.One of the smaller entities within Tata Trusts, BHI was created under the will of Sir Ratanji Tata, the younger son of Tata Group founder Jamsetji Tata. The trust owns properties in Navsari, Gujarat, including a fire temple and a school. Corporate lawyer Swapnil Kothari said it is fair to question the appointments of Srinivasan and Singh as non-Parsis, but the challenge is weakened by the delay.

“Wasn’t Mistry aware of their status when they were appointed?” he asked. Kothari added that appointing an administrator, preferably of Zoroastrian faith, may not guarantee the trust’s objectives are promoted, and reviewing past meeting minutes would be largely academic, as no meetings have been held in two years. “Undoing cheques or other legitimate expenses already incurred would amount to voiding all past decisions. Selective annulments in such cases are impermissible in law.

”Srinivasan recently returned as chairman of Sundaram Clayton, a TVS group company, four years after stepping down, replacing R Gopalan, who continues on the board.