Venu Srinivasan Resigns from Bai Hirabai Charitable Trust Amid Eligibility Concerns, Cites Other Commitments

Venu Srinivasan Resigns from Tata Trust Amid Eligibility Challenge

Venu Srinivasan, Chairman emeritus of TVS Motor and Vice Chairman and trustee to seven trusts of the Tata Group, has tendered his resignation from the Bai Hirabai Charitable Trust (Tata Trust) due to preoccupation with other business interests.

Srinivasan's resignation comes in the backdrop of a challenge to his eligibility to serve as a trustee, filed by former trustee Mehli Mistry. Mistry has objected to Srinivasan's appointment, citing clauses 6 and 18 of the Trust Deed, which state that any disqualified trustee must be treated as "deemed dead." Mistry's objection-application, filed to the Maharashtra Charity Commissioner, argues that Srinivasan and fellow trustee Vijay Singh never met the qualifications to be appointed as trustees to the Bai Hirabai trust.

According to sources privy to the development, Mistry has claimed that Srinivasan and Singh are disqualified due to their failure to meet two key requirements: being of the Parsi Zoroastrian faith and having a permanent residence in Mumbai. Mistry has sought a suo motu inquiry by the State's Charity Commissioner and has requested that all trustees file affidavits confirming their eligibility.

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Mistry's challenge has sparked a controversy surrounding the eligibility of Srinivasan and Singh, who have served as trustees to the Bai Hirabai Charitable Trust. The outcome of the inquiry and the impact on the trust's operations remain to be seen.