Why Neville Tata's induction in SRTT board has been delayed
What's the story
The Sir Ratan Tata Trusts board meeting, scheduled for yesterday, was canceled due to a lack of quorum. The sole agenda was the induction of Neville Tata into the trust's board. This delay coincides with a period of transition within the Tata Trusts, which includes Mehli Mistry's exit on November 4 after a public spat with Noel and other trustees over his renomination proposal.
Induction details
Neville Tata's induction and role in Tata Trusts
Neville was inducted into the Sir Dorabjee Tata Trusts in November last year. The Sir Dorabjee Tata Trust and the Sir Ratan Tata Trust are two main trusts within the larger structure of the Tata Trusts. At Trent, a firm closely associated with his family and currently chaired by his father Noel, Neville oversees operations of Zudio, a popular fashion brand in India.
Group dynamics
Neville Tata's induction to enhance his standing within Tata Group
The induction of Neville onto the SRTT board is tipped to significantly enhance his standing within the Tata Group, a source told The Indian Express. The SRTT board was unable to induct him due to procedural issues raised by trustee Venu Srinivasan, the Chairman Emeritus of TVS Motor Company. His induction is anticipated soon, subject to unanimous approval from all trustees.