TVSMOTOR.NSE

TVS Motor Co Ltd.

Venu Srinivasan, chairman emeritus of TVS Motor Company and vice chairman and trustee across several Tata Trusts, has resigned from the Bai Hirabai Jamsetji Tata Navsari Charitable Institution, citing preoccupation with other business commitments.The resignation comes against the backdrop of an escalating dispute within the Trust, with former trustee Mehli Mistry challenging the eligibility of Srinivasan and fellow trustee Vijay Singh.Also Read: Sir Ratan Tata Trust may get formal trust deed as Tata Trusts reviews governance structureSources said Mistry, in an objection application filed before the Maharashtra Charity Commissioner, has contended that the two trustees “never met the qualifications to be appointed as trustees to the Bai Hira Bai trust and stand expressly disqualified under the Trust Deed.”Mistry has argued that, under Clauses 6 and 18 of the Trust Deed, any such disqualified trustee must be treated as "deemed dead." He specifically claims that Venu and Vijay have never been of the Parsi Zoroastrian faith and do not have permanent residence in Mumbai.

Mistry, in an objection-application filed to the Maharashtra Charity Commissioner, contended that two trustees of the said Trust -- Srinivasan (Chairman emeritus of TVS Motor) and Singh (a former IAS officer) never met the qualifications to be appointed as trustees and stand expressly disqualified under the Trust Deed.

EV adoption should be complemented by a continued push towards renewable energy, along with focus to address execution bottlenecks. Additionally, sustained investments in expanding India’s strategic petroleum reserves (SPR) could further enhance energy resilience, analysts said.

Indian markets experienced a sharp decline on Friday, with Nifty and Sensex falling over 2% due to volatility, primarily driven by financials, auto, and consumer stocks. Elevated energy prices and a weakening rupee further impacted investor sentiment.