R Venkataramanan, embroiled in a tax row over his remuneration and under the scanner of the investigating agencies, stepped down as managing trustee of the Tata Trusts.
Almost simultaneously, in what’s seen as a crucial appointment, Noel Tata was inducted as a trustee of the Sir Ratan Tata Trust, ensuring the continued association of the family with the philanthropic body that controls the Tata Group.
After a five-hour meeting, the board of trustees said Venkataramanan’s request to be relieved of his responsibilities had been “regretfully accepted.”
Venkataramanan, known in Tata circles as Venkat, has completed five years as executive and managing trustee. His resignation as a trustee will take effect on March 31. Read More
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