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Company News: Companies Analysis, Updates & Insights | The HinduBusinessLine

Boiler blast at Vedanta plant in Chhattisgarh kills 11, injures 22 Madhya Pradesh CM says basmati rice from the State is exported to 47 nations IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy Sify data centre arm IPO on track and will be timed with market conditions, says CFO BALCO deploys AI humanoid agent for real-time training, operations and safety Funskool clocks $40 million revenue in FY26, despite tariff headwinds Val-Met Engineering secures ₹200 crore funding from Nuvama Crossover Opportunities Funds BEML secures $36.38 million export order from West Asia region Chitale Bandhu Mithaiwale to inaugurate new production facility near Pune NCLT allows personal guarantee case against Videocon promoter Dhoot No immediate impact of US blocking Iranian vessels on India’s crude cargoes Indian spacetech startups shift gears from R&D to scalable manufacturing Protest by factory workers in Noida, Faridabad turns violent Sharon Pais takes over as Head of Myntra Nadir Godrej to retire as chairperson, Pirojsha Godrej named successor APAC emerges as growth engine amid data sovereignty push: IBM’s Hans Dekkers Unicharm India expands Diabetes Care portfolio Sarovar Hotels sees traction in tier II cities, pilgrimage towns Motherson Sumi Wiring says no impact on operations amid Noida labour protests Aster DM Healthcare invests ₹96 cr to expand Aster Whitefield by 159 beds Ola Electric launches S1 X+ 5.2 kWh with 4680 Bharat Cells India’s active LED display market hits ₹2,000 crore China’s TCL is said to consider stake sale in India TV business Strengthening R&D, investment key for Indian drugmakers to lead globally: Nadda Piper Serica deploys ₹210 crore in 33 start-ups; 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PIL alleges violation of trusteeship norms in Sir Ratan Tata Trust
2026-04-20 · via Company News: Companies Analysis, Updates & Insights | The HinduBusinessLine
The petition argued that the continuation of three perpetual trustees defeats the object of the amendment, which was to prevent entrenchment of a small group of lifetime trustees, ensure broader accountability and protect the public charitable character of trusts.

The petition argued that the continuation of three perpetual trustees defeats the object of the amendment, which was to prevent entrenchment of a small group of lifetime trustees, ensure broader accountability and protect the public charitable character of trusts.

The battle over control of the Tata Trusts has acquired yet another dimension with a public interest litigation filed by a lawyer with the Charity Commissioner, Mumbai, on Saturday, drawing his attention to a violation in the matter of lifetime trustees on the board of Sir Ratan Tata Trust (SRTT).

The petition, filed by lawyer Katyayani Agrawal of law firm SV & Co, sought “urgent intervention”, alleging that SRTT, which has three lifetime trustees in a board of six members, violated the provisions of Section 30A of the Maharashtra Public Trusts Act, 1950.

This section, introduced through an amendment in September 2025, says perpetual or lifetime trustees can make up only one-fourth of a public trust’s board. The ratio is now half in SRTT.

Agrawal is understood to have filed the petition on behalf of her senior, Justice T Raja, who retired as acting Chief Justice of the Madras High Court in May 2023.

When businessline contacted Justice Raja, he initially said that any interested person could file a petition as SRTT is a public charitable trust. But he later confirmed that the petition was filed on behalf of a client whom he declined to identify. An e-mail sent to Tata Trusts’ CEO Siddharth Sharma did not elicit a response until the time of going to the press.

‘Defeats amended section’

The petition argued that the continuation of three perpetual trustees defeats the object of the amendment, which was to prevent entrenchment of a small group of lifetime trustees, ensure broader accountability and protect the public charitable character of trusts.

“Such violation renders the current constitution of the Board of Trustees illegal and liable to be rectified forthwith,” the petition argues, calling for an immediate inquiry into the composition of the board and a direction to the Trust to comply with Section 30A by reducing the number of lifetime trustees.

SRTT, set up in 1919, and Sir Dorabji Tata Trust, are the two main trusts that together control 50.54 per cent shareholding of Tata Sons Pvt Ltd. The current trustees in SRTT are Noel Tata (Chairman), Venu Srinivasan (Vice Chairman), Vijay Singh, Jimmy Tata, Darius Khambata and Jehangir HC Jehangir. Of these, Noel Tata, Jimmy Tata and Jehangir HC Jehangir are lifetime trustees. According to the current law, there can be only one lifetime trustee on the board of SRTT.

Unless the trust board size is doubled, two of the present lifetime trustees will lose their privilege. Significantly, Jimmy Tata, younger brother of the late Ratan Tata, was already a lifetime trustee on the board when Noel, their half brother, was inducted into the board in 2019. The PIL appears to take aim at Noel now.

The petition has sought immediate intervention. “Given the high public profile of the Trust and the fact that it controls significant public charitable funds, any delay in intervention will perpetuate an illegal state of affairs and erode public confidence in the regulatory framework. I, therefore, request that this matter be treated as extremely urgent and appropriate action be taken within the shortest possible time,” it said.

Published on April 19, 2026