Tata Trusts accuse Srinivasan and Singh of undermining resolutions

Senior trustees of Sir Dorabji Tata Trust accused Venu Srinivasan and Vijay Singh of undermining two trust resolutions, saying the comments could affect Tata Sons' pending RBI application.

The trustees said the Trusts and Tata Sons had long treated remaining unlisted as settled policy; they noted the Tata Sons board resolved in March 2024 to retain its unlisted status and that trustees reiterated that position in July 2025, according to the letter. The document was signed by trustees Noel N. Tata, Darius J. Khambata, Neville N. Tata and Bhaskar Bhat.

Trustees point to earlier board resolutions

The trustees criticised Srinivasan and Singh for publicly supporting a listing without asking the trustees to reconsider the March 2024 and July 2025 decisions, saying those resolutions had not been rescinded. The letter also flagged a September 28 proposal to merge two group units with Tata Sons as one route to address the Reserve Bank of India's principal business criteria while keeping the company unlisted.

The trustees defended efforts to explore alternatives to a public listing, saying "The Tata Trusts did what the Board of Tata Sons asked of them," and warned that public statements in favour of a listing could complicate Tata Sons' application with the RBI.

Monitor for any formal trustee motion or Tata Sons filing with the RBI by October 31, 2026; such steps would materially clarify whether the dispute leads to a change in ownership or listing strategy.