Charity probe halts Tata Trusts review of Tata Sons seats
Tata Trusts can't move forward with reviewing its spot on the Tata Sons's board right now.
The reason? The Maharashtra charity commissioner has put a hold on Sir Ratan Tata Trust (SRTT) meetings while they look into some rule violations.
Since both SRTT and Sir Dorabji Tata Trust (SDTT) need to sign off on any board changes (and together, they own over half of Tata Sons), everything's at a standstill.
SRTT suspension stalls Venu Srinivasan review
Even though SDTT is allowed to meet, it can't make big decisions without SRTT in the room.
This has put plans like reviewing Venu Srinivasan's position (after he backed a debated IPO) on ice.
Looking ahead, Tata Sons will meet on Tuesday to talk about how their companies are doing, especially those that aren't making money, but reappointing Chairman N Chandrasekaran isn't even up for discussion this time.