Industry Odisha Bureau, Aug 11: Tata Trusts Vice Chairman Vijay Singh has reportedly stepped down as a trustee of the Sir Ratan Tata Trust (SRTT). This comes shortly before his current term was due to end on August 14, as stated by official reports.
Sources say that Vijay Singh has decided not to seek another term. He also spoke about not wishing to be considered for reappointment.
Singh’s exit marks the end of a long association with the Sir Ratan Tata Trust. However, he will continue as a trustee of the Sir Dorabji Tata Trust for another year.
His departure comes months after Tata Trusts Vice Chairman Venu Srinivasan stepped down from the Tata Education and Development Trust in May. Moreover, this comes at a time when differences have reportedly emerged among trustees over appointments and other matters concerning the trusts.
As per reports, Trustee Mehli Mistry opposed the reappointment of Singh and Srinivasan. The objection reportedly cited requirements under the 1923 trust deed. Further, it also states that trustees should be practicing Parsi Zoroastrians and be permanent residents of Mumbai.
Notably, sources say that Singh was unlikely to have secured unanimous support from the other trustees.
Meanwhile, the Sir Ratan Tata Trust is seeking permission from the Maharashtra Charity Commissioner to hold key meetings. The Charity Commissioner has restrained the trust from holding meetings. Reports also mention trustees having said that around Rs 400 crore in charitable disbursements and upcoming shareholder decisions could be affected by the restrictions.
