Earlier, trustees Mehli Mistry and J N Mistry had also opposed the reappointments. The report added that the trust deed required unanimous approval for the continuation of trustees, otherwise the proposals were blocked.
Times of India also cited internal communications stating that the reappointment proposal for the two trustees had not been passed and that Srinivasan and Singh would cease to be trustees at TEDT from May 10.
According to the Maharashtra Public Trusts Act, 1950, unanimity is required for the reappointment of trustees, which was not the case here. The circulars stated that the tenures of the two trustees would end after their current terms conclude.
What is TEDT?
Rising differences within the group
Noel Tata’s vote comes amid a wider governance churn within Tata Trusts, which controls Tata Sons, the holding company of the Tata Group. Recent differences within the trusts over governance matters, board representation and the future direction of Tata Sons have also come to the forefront.
The boards of Sir Dorabji Tata Trust and Sir Ratan Tata Trust were expected to discuss Tata Sons board representation, the future of Tata Sons chairman N Chandrasekaran, and concerns over the performance of some Tata Group companies.
The meetings of the two key trusts, earlier scheduled for May 8, have been postponed to May 16.
