Half-a-dozen Non-Governmental Organisations (NGOs) have come forward to lend their support to Tata Trusts which have faced allegations of governance issues by former Tata Sons Chairman Cyrus Mistry.
Tata Trusts hold 66 per cent in Tata Sons, the group’s holding company, and is headed by Ratan Tata.
Mr. Mistry had recently stated that the functioning of the Trusts lacked transparency and had sought government intervention over their functioning.
In a joint letter to board members of Tata Consultancy Services, Tata Motors, Indian Hotels Company, Tata Chemicals and Tata Power, the NGOs have expressed their unhappiness about ‘unwarranted’ questions asked about Tata Trusts. These group firms have called for shareholder meetings to seek approval to remove Mr. Mistry as director.
The NGOs include Pradan, Seva Mandir, Srijan, Action for Social Development, Foundation for Ecological Security and Aga Khan Rural Support Programme and have been working with the trusts for several years.
“We are deeply concerned that the current environment might have implications on the Trusts which would have serious consequences on functioning of the civil society actors.
“We appeal to you... to kindly ensure that the Tata Trusts’ philanthropic activities are protected,” they said in the letter.
