Veteran industrialist Venu Srinivasan has resigned from the Bai Hirabai Jamsetji Tata Navsari Charitable Institution, following a challenge to his appointment by a former trustee.
Tata Trusts has unanimously reappointed Venu Srinivasan as a trustee for life, and all eyes are now on the upcoming decision regarding Mehli Mistry's renewal, amid reported internal divisions within the organisation. The reappointment of Srinivasan this week, ahead of his term expiring on October 23, comes amid reports of a vertical split within Tata Trusts - with one faction said to align with Noel Tata, who took over as chairman following Ratan Tata's death, and the other comprising those seen as loyalists of the former doyen.
The top agenda of the meeting includes a review of Tata Trusts representation on the Tata Sons board.
Tata Trusts announced that the trustees of the Bai Hirabai Trust will initiate proceedings to alter restrictive clauses in its trust deed, specifically those prohibiting non-Zoroastrians from serving as trustees. This decision follows a challenge by former trustee Mehli Mistry regarding the appointments of Venu Srinivasan and Vijay Singh, who allegedly did not meet the original Parsi Zoroastrian faith and residency criteria.
A crucial Tata Trusts board meeting was unexpectedly postponed, highlighting internal conflicts over veto power, Tata Sons listing, and trustee eligibility, raising concerns about the stability of the $180 billion conglomerate.
A much-anticipated board meeting of the Sir Ratan Tata Trust, intended to reconsider nominations to the board of Tata Sons, was cancelled for unspecified reasons, despite the Bombay High Court declining to stay the meeting.
Tata Trusts, which holds a significant stake in Tata Sons, is facing a mandate to immediately comply with Section 30A(2) of the Maharashtra Public Trusts Act, 1950, requiring two of the three life trustees at Sir Ratan Tata Trust to step down to meet the 25 per cent cap on perpetual trustees.
Tata Trusts, which holds a significant stake in Tata Sons, is facing a mandate to immediately comply with Section 30A(2) of the Maharashtra Public Trusts Act, 1950, requiring two of the three life trustees at Sir Ratan Tata Trust to step down to meet the 25 per cent cap on perpetual trustees.
If Tata Sons is listed, the special veto rights of Tata Trusts, under Article 121A, may have to go away.
The government is closely watching the fast-paced developments at the salt-to-semiconductor conglomerate.
While the leadership issues may get sorted in the upcoming board meetings of Tata Trusts and Tata Sons, listing of the holding company of the Group on stock exchange should potentially resolve the bigger question on ownership and control
Tata Trusts chairman Noel Tata and two other powerful trustees considered close to him blocked the reappointment of late Ratan Tata's close associate and businessman Mehli Mistry as trustee, deepening the rift at the philanthropic arm that controls the holding company of Tata Group, people familiar with the matter said.
Top honchos of the Tata group, including Tata Trusts Chairman Noel Tata and Tata Sons Chairman N Chandrasekaran, on Tuesday met Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman amid infighting among trustees over board appointments and governance issues.
Tata Trusts, which exerts decisive influence over India's most valuable conglomerate through its about 66 per cent stake of Tata Sons, finds itself in the midst of infighting among its trustees over board appointment and governance issues.
Mehli Mistry is backed by three other trustees -- Pramit Jhaveri, Darius Khambata and Jehangir HC Jehangir -- against Tata Trusts Chairman Noel Tata and the two vice-chairmen, Venu Srinivasan and Vijay Singh.
A quiet but consequential power struggle has erupted within the storied 156-year-old Tata Trusts just a year after the death of group patriarch Ratan Tata on October 9, 2024.
When we took the aaram se test, we found that it did offer huge head and leg room and a wee bit more space than what the prevailing autorickshaws offer.
After months of discord, the Tata Trusts appear to be moving towards reconciliation, with recent reappointments and open exchanges signalling a return to cooperative governance.
SP Group chairman Shapoorji Pallonji Mistry on Friday reiterated calls for public listing of Tata Sons to bring transparency, amid infighting among trustees of Tata Trusts which controls a 66 per cent stake in the holding company of the salt-to-software conglomerate. Shapoorji Pallonji family is the single largest minority shareholder with about 18.37 per cent in Tata Sons.
Tata Sons, now debt-free, has asked the RBI to drop its 'upper-layer NBFC' tag and allow it to stay private.
The Tata Trusts, led by the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust, hold a 66 per cent stake in Tata Sons, the Tata group's holding company.
Lakshmi Venu, granddaughter of T S Srinivasan (TVS) and A Sivasailam (The Amalgamations Group), is managing director of Sundaram Clayton Limited (SCL) and director of TAFE Motors and Tractors Limited (TMTL).
Rohan Murthy, the only son of his parents, has found his life partner in Lakshmi Venu, the 26-year-old daughter of TVS Motor co-chairman Venu Srinivasan. In no time after confirmation from the bride and the groom, the two families sealed the merger of souls with their engagement in Chennai on Friday evening.
Lakshmi Venu's induction on Sundaram Clayton's board is part of the TVS Group's larger succession plan to make way for the women in the family.
Chief Election Commissioner James Michael Lyngdoh, i-flex solutions Ltd chief Rajesh Hukku, and TVS Motor chief executive Venu Srinivasan have figured among the top 25 'Stars of Asia' chosen by the prestigious Business Week magazine.
Indications are that the Tata Sons stand on listing of the company may come up for a discussion even if it's not part of the agenda
Venu Srinivasan, CMD of TVS Motor, believes that margin pressures will continue due to raw material costs. He further states that the company hopes to maintain gross margins in FY07.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
Tamil Nadu is leaving no stone unturned in marketing its upcoming global investors meeting on January 7 and 8. While business veterans are promoting the positives of the state's industrial climate through the 'Titans of Tamil Nadu" campaign, the state is narrating the human stories behind its robust industrial growth via the 'One Trillion Dreams' campaign. Among the industry bigwigs, who are showcasing Tamil Nadu to the world through this mega marketing initiative include Venu Srinivasan of TVS Motor Company, K M Mammen of MRF Ltd, Pratap Reddy of Apollo Hospitals, P R Venketrama Raja of Ramco Group, Mallika Srinivasan of TAFE; and Vellayan Subbiah of Murugappa Group.
Justice GR Swaminathan of the HC bench in Madurai noted that Tamil Nadu was a land of temples where the shrines have played a central role in our culture.
While Sachin Tendulkar's 2013 farewell became a national pilgrimage, a vibrant celebration befitting a cricketing deity, the exits of many other Indian icons this century have been quieter journeys into the twilight.
Rohit aims to bring Champions Trophy to Wankhede
With much sadness, so many of us woke up to the news that Vikram Kirloskar, vice-chairperson of Toyota Kirloskar Motor, had passed away late Tuesday. As I reminisce on the nearly 40 years I have known him, I can unequivocally say that he had such a rare and deep understanding and passion for automotive manufacturing that it would make Toyota, which pioneered the Toyota Way, proud. Many of us know Vikram as the man who brought the iconic Japanese carmaker Toyota to India. But few know the back story and hard work that went into creating a system of manufacturing that was everything Toyota could have hoped for and then some more because it was perfectly calibrated for manufacturing in India.
'The quality of a leader should be such that even if the leader is not there, the institution carries on.'
Though academically well qualified, doesn't have enough experience, says the firm.
Trustees of the Shri Sathya Sai Central Trust have expressed their willingness to appear before the police for investigation into the case of missing cash case from Puttaparthi ashram.
As campaigning picks up for the Lok Sabha elections, the newly elected President of industry body CII, Venu Srinivasan, has said he will promote a transparent way of donations to political parties by business houses.
There was plenty of action over the last 12 months that kept the loyal Indian fan interested.
low-cost plans dovetail perfectly with the company's decision to make affordable new models.
Automakers gauge the competition at the show.
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