Cyrus Mistry removed as director of Tata Sons; to give up all official posts at Tata Group companies
Tuesday, February 7, 2017 IST
Cyrus Mistry removed as director of Tata Sons; to give up all official posts at Tata Group companies
New Delhi: Shareholders of Tata Sons on Monday amid the Extraordinary General Meeting (EGM) go with imperative dominant part a determination to evacuate Cyrus Mistry as the Director of the organization.
"The shareholders of Tata Sons Ltd, at the uncommon general meeting held today, go, with the essential greater part, a determination to evacuate Cyrus P Mistry as a Director of Tata Sons Ltd," the Tata Group's holding firm said in an announcement.
Taking after his ouster as the chief of Tata Sons, Mistry will now need to surrender his last authority position crosswise over Tata Group organizations.
Mistry turned into a chief in Tata Sons in 2006.
Mistry had moved National Company Law Tribunal (NCLT) and later National Company Law Appellate Tribunal (NCLAT) looking for a stay on the EGM.
The National Company Law Tribunal (NCLT)refused to give a stay on the unprecedented general meeting on February 6, and will just hear Mistry camp's request, testing his ouster as the Chairman of Tata Sons, on February 13 and 14.
In the event that Mistry neglects to contend the case, NCLT will expel the case.
Mistry was removed as executive of Tata Sons on October 24 taking after a meeting room tussle, with director emeritus Rata Tata assuming control as interval administrator.
N Chandrasekaran, the previous CEO of TCS was declared the following Chairman of Tata Sons on January 13 and assumes control as the part formally on February 21.
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