Tata Trusts defers key board meetings to May 16 amid legal challenges

New Delhi, May 8 (IANS) The board meetings of Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust (SRTT), the principal shareholders of Tata Sons, have been deferred to May 16 amid legal issues and ongoing deliberations over governance matters, according to sources.

The meetings were originally slated for May 8 and were expected to examine the Trusts' representation on the Tata Sons board, including a possible review of certain nominee directors.

According to them, a few trustees who had already joined the scheduled meeting were informed shortly before commencement that the discussions had been called off.

However, the meetings had earlier been fixed for May 12 before being postponed, which is the second schedule change.

Among the matters likely to come up for discussion were recent remarks made by Tata Trusts vice-chairmen Vijay Singh and Venu Srinivasan on the possibility of listing Tata Sons.

Their comments are understood to have prompted a wider internal assessment within the Trusts regarding whether board nominees are aligned with the broader institutional view on the holding company remaining privately held.

The majority within the Trusts continues to favour retaining Tata Sons as an unlisted entity, a position backed by chairman Noel Tata despite a few differing opinions.

While Vijay Singh was not reappointed to the Tata Sons board last year, any potential review involving Venu Srinivasan is likely to draw attention given his prominence in India Inc. and his continuing role within the Trusts.

The debate around a possible listing of Tata Sons has remained a sensitive issue within the Tata Group for several years, with differing viewpoints emerging occasionally within the Trusts’ leadership.

The board of SDTT includes Noel Tata, Venu Srinivasan, Vijay Singh, Darius Khambata, Neville N. Tata and Bhaskar Bhat.

The SRTT board comprises Noel Tata, Srinivasan, Singh, Jimmy Tata, Jehangir H.C. Jehangir and Khambata.