INSUBCONTINENT EXCLUSIVE:
said its Managing Trustee R Venkataramanan has resigned from the post to pursue other options
Mr Venkataramanan will relinquish responsibilities as the managing trustee /trustee of the Tata Trusts on March 31, 2019, Tata Trusts said
A committee of trustees, comprising Ratan N Tata, chairman of the Trusts, and Vijay Singh and Venu Srinivasan, vice-chairmen of the Trusts,
has been established with immediate effect to oversee the operations and to select a chief executive for the Trusts, it added.The trustees
of the Tata Trusts at a meeting held Wednesday accepted Mr Venkataramanan's request to be relieved as he had been considering other
options, given that he was completing five years as the Trusts' executive trustee / managing trustee, it added.The development comes at a
time when tax exemption status provided to philanthropic trusts endowed by members of the Tata family, was reportedly withdrawn because of
the remuneration paid to Mr Venkataramanan.He was also subject of investigation by the CBI last year for allegedly trying to manipulate
government policies through corrupt means to get an international licence for AirAsia India.Tata Trusts had, however, had come out in
support of him.The statement further said the trustees also appointed Noel N Tata, chairman of Trent Ltd and managing director of Tata
International, and Jehangir H C Jehangir, a long-standing philanthropist who is currently spearheading the healthcare mission at Jehangir
Hospital, Pune, as trustees of Sir Ratan Tata Trust.
