Tata Trusts vice-chairmen accuse former colleague of strategising to oust trustee
Venu Srinivasan and Vijay Singh alleged Darius Khambata helped current leadership reinforce control at the expense of fiduciary duties.
Two senior Tata Trusts vice-chairmen, Venu Srinivasan and Vijay Singh, have accused former colleague Darius Khambata of helping current leadership reinforce control at the expense of fiduciary duties, according to a Times of India report.
In a letter dated November 11, the vice-chairmen said Khambata's account of a dispute between Noel Tata and certain trustees was incomplete. They alleged Khambata strategised to temporarily oust Srinivasan as a Sir Dorabji Tata Trust (SDTT) trustee to allow for the induction of two new trustees in November 2025.
The letter also addressed Khambata's claims regarding a potential Tata Sons listing. While Khambata described a listing as existential for the Trusts, Srinivasan and Singh rejected this, stating that listing would not affect the Trusts' shareholding, dividends, or philanthropy.
The vice-chairmen noted that a listing would end the Trusts' superior voting rights on the Tata Sons board, which is why Chairman Noel Tata opposes an IPO. They questioned if Khambata's concern was the Tata model or the control of Tata Sons by current leadership.
Regarding the reappointment of executive chairman N. Chandrasekaran, the vice-chairmen said the trustees of SDTT and Sir Ratan Tata Trust (SRTT) had unanimously recommended him for a third term on July 28, 2025. They noted that the Tata Sons board reappointed Chandrasekaran on September 17 after he had initially decided not to offer himself for reappointment.