The battle continues: Mistry skips two key board meets of Tata group firms
Thursday’s much-awaited board meetings at Tata Sons and Tata Consultancy Services (TCS) did not yield much, with ousted group chairman Cyrus Mistry giving them a miss.business Updated: Nov 18, 2016 01:07 IST
Thursday’s much-awaited board meetings at Tata Sons and Tata Consultancy Services (TCS) did not yield much, with ousted group chairman Cyrus Mistry giving them a miss.
The Tata Sons board meeting did not have anything related to Mistry on its agenda. On the other hand, software major TCS, where Mistry was also replaced as chairman last week, agreed to finalise December 13 as the date for an extraordinary general meeting to remove him as director of the company.
“The board of directors at its meeting held on November 17 has decided to convene an EGM pursuant to the special notice and requisition dated November 9, sent by Tata Sons, shareholder of the company holding 73.26% of the paid-up capital, to consider and pass a resolution for removal of Mr Mistry as director of the company,” TCS said to the exchanges in a late evening communication.
The Tata Sons board is currently chaired by interim head Ratan Tata, while TCS last week nominated group veteran Ishaat Hussain as interim chairman in place of Mistry.
“The board did not discuss anything related to Mistry. Other items that were taken up included financials, which are an internal matter of the company and need not be disclosed,” said people aware of the meeting.