Khambata 'strategised' to oust Srinivasan, say Tata Trusts VCs
Senior Tata Trusts trustees Venu Srinivasan and Vijay Singh have accused former colleague Darius Khambata of manipulating internal governance to consolidate power. The dispute involves disagreements over the potential listing of Tata Sons and the company's regulatory engagement with the RBI.
Why it matters
This internal conflict at one of India's largest conglomerates highlights significant governance challenges and debates over the future of the 'Tata model'.
MUMBAI: Two senior Tata Trusts trustees have accused a former colleague of helping the present leadership of the Trusts to reinforce control at the expense of his own fiduciary duties and the sanctity of the Tata model of governance.In a letter dated Nov 11, vice-chairmen of the Trusts, Venu Srinivasan and Vijay Singh, said Darius Khambata's account of the dispute between Noel Tata and a section of trustees was "incomplete in several material respects."They alleged that Khambata "strategised" to temporarily oust Srinivasan as a Sir Dorabji Tata Trust (SDTT) trustee so that two new trustees could be inducted in Nov 2025. "There was nothing consensual about that process," they wrote.Their reply targets Khambata's Nov 2 letter, which described a Tata Sons listing as "existential" for the Trusts and said the company's engagement with the Reserve Bank of India (RBI) had been neither meaningful nor successful.
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