Venu Srinivasan, Vijay Singh question Tata Sons merger move
In short
Venu Srinivasan and Vijay Singh wrote to fellow trustees on Wednesday, September 30, about a Tata Sons restructuring proposal.
They said they were not consulted before a September 28 letter went to the Tata Sons board asking for approval of a merger. It is not clear whether all trustees support the plan.
What the reporting says
Venu Srinivasan and Vijay Singh wrote to fellow trustees of the Sir Ratan Tata Trust on Wednesday, September 30, saying they were not consulted before a September 28 communication was sent to the Tata Sons board seeking approval for a proposed merger. The CNBC TV18 Business summary also says they questioned whether the proposal had backing from all SDTT trustees. The immediate status of the restructuring proposal is not stated.
Why it matters
Venu Srinivasan and Vijay Singh sent a letter to fellow trustees of the Sir Ratan Tata Trust on Wednesday, September 30, saying they had not been consulted before a September 28 communication sought Tata Sons board approval for a proposed merger. The report also says they questioned whether all SDTT trustees backed the proposal. The source does not state the merger terms or the next step.