Tata Trusts has said it was not informed about any business relationship between Tata Sons chairman N Chandrasekaran and TVS Motor chairman emeritus Venu Srinivasan, following allegations of links between the two entities.
As per a report by NDTV Profit, the Trusts said that Srinivasan did not disclose any dealings involving Hanno One Warehousing, Hanno Infra or TVS Motor to its trustees.
It added that if the allegations are established, it would assess the matter and take appropriate action.
Alleged business links raise disclosure questions
The clarification follows a report by Mint claiming that members of Chandrasekaran’s family had business connections with Srinivasan, who supported Chandrasekaran’s reappointment as Tata Sons executive chairman in a recent board vote.
According to the report, neither executive disclosed the alleged relationship to the Tata Sons board, a matter that could potentially raise concerns under the Tata Code of Conduct, which requires disclosures of actual or potential conflicts involving directors and their immediate family members.
Hanno One project details under scrutiny
MCA records also indicate that Hanno One received a ₹60 crore loan from HDFC Bank. The company has been linked to a warehousing project in Tamil Nadu’s Uddanapalli village, where land owned by Hanno One was reportedly leased to TVS Motor.
According to the report, Hanno One owns land in Uddanapalli through records available on the Tamil Nadu Pollution Control Board’s website and other government platforms.
Tata Trusts said it understood that no such disclosures were made to the Tata Sons board but clarified that it could not comment definitively on behalf of the company.
The report also stated that Tata Sons was approached for a response but did not provide a comment.
