'Even a single no can block a renewal'

TENSION WITHIN TATA TRUSTS

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The renewal of trustees’ tenures at Tata Trusts is catching attention for several reasons.

First, against the backdrop of a divided house at Tata Trusts, a consensus of the trustees will be a must for any reappointment or renewal, at least two sources aware of the issues said. Even if there’s a single objection, the reappointment can be blocked.

Therefore, even if renewal of trustees is a mundane matter in normal times, it is now being interpreted in different ways. Second, these renewals, if trustees approve, would result in life trusteeship of Srinivasan and Mistry. Tata Trusts had approved lifetime trusteeship at a meeting held shortly after Ratan Tata's passing last year. However, sources pointed out that the term of a trustee has to be renewed prior to getting a lifetime trustee status.