The veteran businessman and Chairman Emeritus of TVS Motor, Venu Srinivasan, has resigned from the Bai Hirabai Jehangirji Tata Navsari Charitable Institution (BHI). While he cited his heavy business workload as the reason for stepping down, the move comes right in the middle of a legal storm.
Mehli Mistry, a former trustee, has moved the Maharashtra Charity Commissioner with a petition that challenges how the trust is being run. According to Mistry, the rules of this specific trust—which dates back to a 1923 deed—are very clear: a trustee must be a Parsi and must live in Mumbai.
Since Srinivasan is neither Parsi nor a Mumbaikar, Mistry argues he was never eligible to hold the post.
The Heart of the Dispute
This isn’t just about Srinivasan. The BHI trust was set up following the will of Sir Ratanji Tata, the younger son of the legendary Jamsetji Tata. It manages sensitive properties in Navsari, Gujarat, including a school and a Fire Temple.
Unlike the nine other Tata trusts, the BHI has these unique “Parsi-only” and “Mumbai-resident” clauses. Here is what you need to know about the current crisis:
The Target: Mistry’s petition also points a finger at trustee Vijay Singh (former Defence Secretary), who is also not Parsi. Singh has declined to comment on whether he will stay or quit.
The Numbers Game: The trust must have between five and eight members. If both Srinivasan and Singh are removed, the board might fall below the minimum limit of five.
Governance Issues: Mistry claims the trust hasn’t even held a meeting in over two years and is pushing for a government administrator to take over.
Why Now?
Venu Srinivasan has recently become very busy after returning as the Chairman of Sundaram Clayton after a four-year gap. It is important to clarify that he has only resigned from the BHI trust; he continues to serve on several other major Tata trusts where these specific rules do not apply.
However, experts are questioning the timing of this legal “expose.” Corporate lawyer Swapnil Kothari noted that while the eligibility questions are valid, Mistry waited a long time to raise them. He asked why these appointments weren’t challenged the moment they were made.
Srinivasan himself has stayed silent on the matter, leaving the sarkar and the Charity Commissioner to decide if the 100-year-old rules of the neta of Indian industry still hold ground.
