Mistry removed as Tata Sons’ director

Tribune News Service

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New Delhi, February 6

Ousted Tata Sons’ Chairman Cyrus Mistry was today removed as director of the company with shareholders voting in favour of his removal with “requisite majority”.

“The shareholders of Tata Sons Ltd, at the extraordinary general meeting held today, passed, with the requisite majority, a resolution to remove Cyrus P Mistry as a Director of Tata Sons Ltd,” the Tata Group’s holding firm said. 

On the implications of Mistry’s ouster, Vaibhav Agrawal (Head of Research, Angel Broking, said in its EGM the shareholders of Tata Sons voted to remove Cyrus Mistry from the directorship of Tata Sons. The decision was a foregone conclusion as the Tata Trusts own 66% in Tata Sons and Tata group companies hold another 15%.

Tata Sons has already appointed former TCS CEO, N Chandrasekharan, as Chairman of Tata Sons.” The Board has tried to rest the uncertainty over management and control of Tata Group companies which brings the focus back to business issues. The legal battle between the two sides, however, is likely to continue hence the road ahead needs to be watched closely,” Agrawal said.