Mehli Mistry, Director of the Meher Pallonji Group, has set an unprecedented condition while approving the reappointment of Venu Srinivasan as a lifetime trustee on the Sir Dorabji Tata Trust Board, sources close to the Tata Group told CNBC-TV18.
According to the sources close to the Tata Group, Mistry communicated to fellow trustees that all future trustee reappointments at Tata Trusts should be unanimous. He further stated that he would withdraw his support if unanimity was not maintained in future appointments.
The move, sources said, took some trustees by surprise, as there is no provision for conditional approval or retrospective withdrawal of support in the current framework.
Mistry’s term as trustee ends on October 28, and Tata Trusts will soon initiate the process

CNBC-TV18

Businessline
Free Press Journal
Business Today
Bhaskar English
Babushahi.com
Moneycontrol
The Indian Express
CNN Politics