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N Chandrasekaran briefs Tata Sons Board on Rs 500 cr Air India crash relief fund
The initiative is being spearheaded by PB Balaji, group CFO of Tata Motors, who is developing a governance-compliant framework sensitive to the legal and cultural complexities surrounding the tragedy. The trust will also feature members from outside the Tata Group to ensure transparency and robust governance.
The meeting was attended by Tata Trust nominees Noel Tata, Venu Srinivasan, and Vijay Singh. The move draws parallels with Tata’s 2008 post-26/11 initiative to support employees and families impacted by the Mumbai terror attacks.
Tata Sons, the $400-billion Tata Group’s holding company, has sought board approvals to establish a ₹500-crore trust aimed at providing financial assistance to families affected by the June 12 Air India crash in Ahmedabad. Chairman N Chandrasekaran briefed the board about the proposed trust at an interim meeting on Thursday, as per reports.
The fund will support the families of all 271 victims—both Indian and foreign nationals—including several British passengers. Initially, Tata considered separate trusts for Indian and foreign families, but has now opted for a unified structure.
The trust’s scope includes compensation payouts, medical care, and rebuilding the damaged medical school struck by the plane’s fuselage. The remaining corpus will be allocated for long-term support, such as children’s education, healthcare, and daily living expenses.
The initiative is being spearheaded by PB Balaji, group CFO of Tata Motors, who is developing a governance-compliant framework sensitive to the legal and cultural complexities surrounding the tragedy. The trust will also feature members from outside the Tata Group to ensure transparency and robust governance.
Tata Trusts is expected to contribute to the fund. The meeting was attended by Tata Trust nominees Noel Tata, Venu Srinivasan, and Vijay Singh. The move draws parallels with Tata’s 2008 post-26/11 initiative to support employees and families impacted by the Mumbai terror attacks.
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