PARSI TRUST DEED
Mehli Mistry challenges removal as Tata Trusts trustee, seeks independent inquiry into governance
Mehli Mistry has filed a challenge against his removal as a trustee of the Sir Dorabji Tata Trust. He has raised concerns about procedural irregularities and trustee eligibility in his case. Mistry also seeks an independent inquiry into financial matters related to the trust's administration. He has claimed conflicts of interest and improper financial benefits received by some trustees.
Mistry Objection Not Valid, say two Tata Trusts
Two Tata trusts, Sir Dorabji Tata Trust and Bai Hirabai Jamsetji Tata Navsari Charitable Institution, challenge Mehli Mistry's objections. Mistry claims irregularities in trustee appointments, while the trusts deny any illegal actions. Both trusts assert that his term expired and he no longer qualifies as a trustee. Additionally, the BHJTNCI seeks to replace its reporting trustee, leading to further legal disputes. Proceedings on these matters are set for November 5.
Is Will registration mandatory? No, but two witnesses are required by law
Registration of Will is optional but at least two attesting witness in Will is mandatory; Know what the law says. This article explains it all.
Vijay Singh exits Sir Ratan Tata Trust, informs he doesn't want reappointment
Vijay Singh has resigned as a trustee of the Sir Ratan Tata Trust. He will continue serving the Sir Dorabji Tata Trust for another year. The Sir Ratan Tata Trust faces regulatory issues and internal disagreements. Singh's departure follows earlier exits from another trust board. This marks a significant shift within the prominent Tata philanthropic organization.
Vijay Singh to leave Sir Ratan Tata Trust After Term Expires in August
Vijay Singh will step down as a Sir Ratan Tata Trust trustee on August 14. His departure follows internal differences and regulatory scrutiny within the Tata Trusts. Singh cited a disquieting atmosphere after Ratan Tata's passing as a reason for leaving. He will continue as a trustee for the Sir Dorabji Tata Trust for another year. This exit occurs while the trusts face challenges with board meetings and representation.
HDFC Bank exit spotlights board failures; from Satyam Computers to Tata Trusts, governance gaps hit corporates and nonprofits alike
Corporate and social sector boards face governance challenges. Recent events highlight the need for competent, diverse, and cohesive boards. Failures in oversight have led to scandals and organizational collapse. Non-profit boards often lack engagement and regulatory knowledge. Training and careful selection of members are crucial for effective governance and organizational well-being.
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Tata Trusts to amend Bai Hirabai Trust deed, trustee eligibility clauses under review
Tata Trusts trustees will seek to change rules in the Bai Hirabai Trust deed. These rules previously barred non-Zoroastrians from becoming trustees. This action follows a complaint by a former trustee. The trust deed's restrictive clauses are being reviewed. The aim is to align the trust with inclusive values. This move addresses eligibility criteria for trustees.
Tata Trusts row deepens as vice-chairmen allege concealment, forced resignation
Tata Trusts is in the spotlight as CEO Siddharth Sharma demands the resignation of vice-chairmen Venu Srinivasan and Vijay Singh. The two members assert that Sharma did not disclose a vital legal assessment from ex-CJI M.H. Kania related to eligibility criteria. While Srinivasan has resigned, Singh is yet to follow suit.
Religion is no disqualification for trustees: Tata Trusts note
Tata Trusts has opened its doors wider, confirming that non-Zoroastrians are eligible to serve as trustees of the Bai Hirabai JN Tata Navsari Charitable Institution. This decision emerges in light of a challenge regarding the qualifications of trustees Venu Srinivasan and Vijay Singh.
Tata Trusts row deepens as Venu Srinivasan exits Bai Hirabai Trust amid eligibility challenge
Venu Srinivasan has resigned from the Bai Hirabai Jamsetji Tata Navsari Charitable Institution. This move follows a dispute over his eligibility as a trustee. Another trustee, Mehli Mistry, challenged Srinivasan and Vijay Singh's qualifications. Mistry claims they do not meet the Parsi Zoroastrian faith and Mumbai residency requirements. Srinivasan cited other business commitments for his departure.
Is it better to distribute one’s assets during lifetime or after demise? Which succession tool is best suited to your needs?
Inheritance conflicts frequently occur in India as families navigate the complexities of passing on legacies. Although parents strive to create secure financial futures for their offspring, disputes over property can easily ensue. This piece delves into various asset distribution strategies like wills, gift deeds, trusts, and joint ownership arrangements.
Parsi community divided over sale of historic Sanjan Sanatorium
A proposed sale of a historically significant Parsi sanatorium in Sanjan has ignited a community debate. While the World Zoroastrian Organisation cites financial unsustainability, Parsi groups are making bids to preserve the site, a landing point for ancestors over 1,300 years ago. Concerns are raised about potential impact on a nearby memorial column.
Nominee vs Legal Heir: Who gets insurance money after death? Here's what Indian law says
Nominees are appointed to receive funds upon someone's death, but they do not get to become ultimate beneficiaries of the same. While succession laws change depending on the insured's religion, law sees nominees as merely custodians. However, there are some cases where even the nominee has a legal right to the deceased person's insurance money. Read on to know more.
Last wishes of Ratan Tata on succession at Trusts could prevail
Following Ratan Tata's passing, the Tata Trusts face uncertainty in leadership. Despite legal constraints, succession remains paramount, with interim leadership possible. Key figures like Venu Srinivasan, Vijay Singh, and Noel Tata, hold influential positions, indicating succession plans may favor continuity and stability within the Tata empire.
8 ways to transfer your assets to legal heirs, how much to leave as inheritance
Find out the best ways to transfer your wealth to heirs and what it entails for inheritors.
Cyrus Mistry fiasco: Acid test for brand Tata's business basics
What complicates matters is that the Mistry clan's Shapoorji Pallonji group has an 18.4% stake in the holding company, two-thirds of which is owned by the Tata Trusts, controlled by Ratan Tata.
Modi government to commemorate Muslim and Christian national icons such as Ashfaqulla Khan and TM Varghese
Muslim women such as Bi Amma (Abadi Begum) and Begum Hazrat Mahal, who rebelled against British rule, are also part of the list.
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