Srinath Narasimhan Will Be The New CEO Of Tata Trusts' From April
Bengaluru, India – 13 February, 2020: Tata Group expert, Srinath Narasimhan is appointed as the Chief Executive Officer of Tata Trust from April 1. The Trust is facing a time of legal action with the income tax department over the tax updates. Tata Group is also in the verge of a legal dispute with Cyrus Mistry, its former chairman.
Narasimhan is an Indian Business Executive holding a degree of Mechanical Engineering from Indian Institute of Technology Madrass and Completed MBA from Indian Institute of Management Calcutta. He started his career at Tata Group in the year 1986 and he served as the CEO of Tata Internet Service and Tata
Communications. Srinath Narasimhan is at present the managing director Tata Teleservices. Tata Teleservices sells loss making wireless telephone for free to Bharti Airtel. He has worked in different positions at Tata Group.
Tata Trusts was performing in the absence of a CEO after R Venkataramanan resigns as managing trustee on February 14, 2019. A Board of trustees, including the chairman of the trust, Ratan N Tata and Vice Chairmen of the Trust, Vijay Singh and Venu Srinivasan, was assigned to supervise the functioning and nominate a chief executive officer for the Trust.
Venkataramanan quit the post saying “I was considering other options, given that I was completing five years as the Trusts’ Executive Trustee/ Managing Trustee, and sought to be relieved”. Assumption was whispered that some members from the trustees were not cheerful with Venkataramanan.
The department of Information Technology had currently neglected the registration of six Tata Trusts, which included Jamshedji Tata Trust, R.D. Tata Trust and Tata Education Trust, succeeding their judgment to give up the same. According to Tata Trusts the termination was a result of the assessment taken by these six Trusts in the year 2015 to admit their registration and to not petition the associated income tax exemptions.
The Tata Trust came into existence in the year 1919 and now is one of the earliest bestowing foundations in India. The organisation provides various innovative grants for educational, institutional, communities and healthcare causes.