ET Exclusive: New Maharashtra rule to impede Tata Trustees' plans

A new Maharashtra government rule limits lifetime trustees. This ordinance will affect Tata Trusts' governance structure. Perpetual trustees will now be a minority on trust boards. This change comes after Tata Trusts decided to grant lifetime terms to existing trustees. The rule impacts appointments and reappointments of trustees. Tata Trusts may need to restructure its boards.