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After defamation suit, proxy firm changes tack, bats for Wadia ouster

Change in recommendation followed the recent Rs 3,000 crore defamation case filed by Nusli Wadia against the Tatas

N Sundaresha Subramanian  |  New Delhi 

Proxy advisory firm Institutional Investor Advisory Services (IiAS), which had asked shareholders of Tata Steel and Tata Motors to vote against the resolution to remove independent director Nusli Wadia, changed its stand on Friday. “IiAS has changed its voting recommendation on the resolution to remove Nusli Wadia from Tata Steel and Tata Motors — we now recommend supporting the resolution,” the firm said in a note late on Friday. The change in the recommendation followed the recent Rs 3,000 crore defamation case filed by Nusli Wadia against the Tatas, IiAS ...


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