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Sun, Nov 18, 2018 | Last Updated 5:41 pm IST

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Tata Trusts Donation to Harvard questioned by US Website

Tata Trusts Donation to Harvard questioned by US Website
Tata Trusts Donation to Harvard questioned by US Website
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

Washington sources reported that the controversy surrounding the $50 million donation from not for profit Tata Trusts to the Harvard Business School in 2010 has now reached the American shores with a leading Conservative website questioning the globally prestigious institution for accepting “questionable funds” that should otherwise have been “used for the welfare of the poor.”



Meanwhile that was against “every tenet of good (corporate) governance”, Alex Beard, director of a Washington based global financial advisory firm and a former professor from Georgetown University, said in a signed article. Accordingly Beard also questioned Harvard’s moral obligation, asking if it would return the funds “or rectify it in some other way”.

Tata Trusts Donation to Harvard questioned by US Website

Moreover the 2010 donation agreement the largest from an international donor in the 102-year history of the Harvard between HBS Dean Nitin Nohria and business magnate Ratan Tata that resulted in the subsequent construction of Tata Hall in 2013 is under a parliamentary scrutiny in India. Further a sub-panel of the Public Accounts Committee was looking into the $50 million donation and other such gift pacts, suspecting the money may have been donated in violation of tax rules, according to a member of the panel.

 


Tata Trusts Donation to Harvard questioned by US Website
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