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Mehli Mistry
Mehli Mistry , JN Mistry Oppose Srinivasan, Vijay Singh Reappointment At TEDT
The proposed reappointment of Venu Srinivasan and Vijay Singh as trustees of the Tata Education and Development Trust (TEDT) has hit a roadblock, with two trustees opposing the move, according to a report by Moneycontrol.
Citing people familiar with the matter, the report said that Mehli Mistry and J N Mistry voted against the reappointments. Srinivasan and Singh, whose current terms are set to expire next Sunday, had sought extensions, with the trust circulating a proposal to all trustees for approval.
Moneycontrol had earlier reported that the renewals require unanimous consent from all existing trustees. With two dissenting votes, both Srinivasan and Singh are unlikely to secure another term. The two, however, supported each other’s reappointment, the report added.
Srinivasan currently serves as vice-chairman of Tata Trusts, though it remains unclear whether he will continue in that role if he is no longer part of TEDT.
The Tata Education and Development Trust, while not a shareholder in Tata Sons, is among the key entities within the Tata Trusts network. It is estimated to manage a corpus of over Rs 5,000 crore and focuses on education-led philanthropic initiatives, including scholarship programmes.
Under TEDT’s governing rules, trustee reappointments require unanimous approval. Mehli Mistry and J N Mistry are life trustees, while Noel Tata—also a life trustee—has not yet cast his vote, according to the report.
The current trustee roster includes Noel Tata, Venu Srinivasan, Vijay Singh, Mehli Mistry and J N Mistry, among others.
Internal differences resurface
The development highlights fresh friction within Tata Trusts, which controls Tata Sons, the holding company of the Tata Group.
It also comes ahead of a key meeting of Tata Trusts scheduled for May 8, where a broader review of the Trusts’ representation on the Tata Sons board is expected. Earlier, Moneycontrol had reported that the possible nomination of Bhaskar Bhat—recently inducted into the Sir Dorabji Tata Trust—is under consideration, along with a potential reshuffle of nominees on the Tata Sons board.
The reappointment process at TEDT had already been uncertain, with indications that not all trustees were aligned on the renewals. Emails sent to Tata Trusts did not receive a response at the time of publication, the report noted.
Source: News18
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