You are here: Home » PTI Stories » National » News
Business Standard

Mistry, Wadia to contest removal from Tata Motors at EGM

Press Trust of India  |  New Delhi 

Hardening their position against Tata Sons, ousted chairman and Nusli Wadia, who has been backing him, will contest the proposal to remove them from the board of by making separate representation to "members of the company".

In a regulatory filing, said it has called extraordinary general meeting (EGM) on December 22 to consider resolutions moved by their holding company, Tata Sons, seeking removal of Mistry and Wadia.



said Mistry and Wadia "intend to provide a separate representation to be sent to the members of the company".

Yesterday, in a regulatory filing, and said and Nusli Wadia intend to make representation to shareholders in respect of their removal.

Tata Sons holds 26.51 per cent stake in Tata Motors.

Mistry, who was on October 24 abruptly removed as chairman of Tata Sons, the holding company of the USD 103-billion salt-to-software conglomerate, was voted out as chairman of on November 25.

Despite being removed as Chairman of Tata Sons, he continues to head some group firms and is on boards of many.

While the chairman can be removed by board of directors, removal of a director can only be done by shareholders. So, Tata Sons, which brought back Ratan Tata after removing Mistry last month, is seeking to remove him from group firms too one after another.

He has already been ousted as chairman of (TCS) and Tata Global Beverages Ltd. EGMs have been called to remove him as director on these firms as well as and Indian Hotels.

Throughout, Wadia has been supporting Mistry, who continues to be at the helm and/or is director of some of the group companies.

Mistry's sudden and dramatic removal as the chairman of Tata Sons triggered a confrontation between the single-largest shareholder and the Tatas.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Mistry, Wadia to contest removal from Tata Motors at EGM

Hardening their position against Tata Sons, ousted chairman Cyrus Mistry and independent director Nusli Wadia, who has been backing him, will contest the proposal to remove them from the board of Tata Motors by making separate representation to "members of the company". In a regulatory filing, Tata Motors said it has called extraordinary general meeting (EGM) on December 22 to consider resolutions moved by their holding company, Tata Sons, seeking removal of Mistry and Wadia. Tata Motors said Mistry and Wadia "intend to provide a separate representation to be sent to the members of the company". Yesterday, in a regulatory filing, Tata Steel and Tata Chemicals said Cyrus Mistry and Nusli Wadia intend to make representation to shareholders in respect of their removal. Tata Sons holds 26.51 per cent stake in Tata Motors. Mistry, who was on October 24 abruptly removed as chairman of Tata Sons, the holding company of the USD 103-billion salt-to-software conglomerate, was voted out as ... Hardening their position against Tata Sons, ousted chairman and Nusli Wadia, who has been backing him, will contest the proposal to remove them from the board of by making separate representation to "members of the company".

In a regulatory filing, said it has called extraordinary general meeting (EGM) on December 22 to consider resolutions moved by their holding company, Tata Sons, seeking removal of Mistry and Wadia.

said Mistry and Wadia "intend to provide a separate representation to be sent to the members of the company".

Yesterday, in a regulatory filing, and said and Nusli Wadia intend to make representation to shareholders in respect of their removal.

Tata Sons holds 26.51 per cent stake in Tata Motors.

Mistry, who was on October 24 abruptly removed as chairman of Tata Sons, the holding company of the USD 103-billion salt-to-software conglomerate, was voted out as chairman of on November 25.

Despite being removed as Chairman of Tata Sons, he continues to head some group firms and is on boards of many.

While the chairman can be removed by board of directors, removal of a director can only be done by shareholders. So, Tata Sons, which brought back Ratan Tata after removing Mistry last month, is seeking to remove him from group firms too one after another.

He has already been ousted as chairman of (TCS) and Tata Global Beverages Ltd. EGMs have been called to remove him as director on these firms as well as and Indian Hotels.

Throughout, Wadia has been supporting Mistry, who continues to be at the helm and/or is director of some of the group companies.

Mistry's sudden and dramatic removal as the chairman of Tata Sons triggered a confrontation between the single-largest shareholder and the Tatas.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Mistry, Wadia to contest removal from Tata Motors at EGM

Hardening their position against Tata Sons, ousted chairman and Nusli Wadia, who has been backing him, will contest the proposal to remove them from the board of by making separate representation to "members of the company".

In a regulatory filing, said it has called extraordinary general meeting (EGM) on December 22 to consider resolutions moved by their holding company, Tata Sons, seeking removal of Mistry and Wadia.

said Mistry and Wadia "intend to provide a separate representation to be sent to the members of the company".

Yesterday, in a regulatory filing, and said and Nusli Wadia intend to make representation to shareholders in respect of their removal.

Tata Sons holds 26.51 per cent stake in Tata Motors.

Mistry, who was on October 24 abruptly removed as chairman of Tata Sons, the holding company of the USD 103-billion salt-to-software conglomerate, was voted out as chairman of on November 25.

Despite being removed as Chairman of Tata Sons, he continues to head some group firms and is on boards of many.

While the chairman can be removed by board of directors, removal of a director can only be done by shareholders. So, Tata Sons, which brought back Ratan Tata after removing Mistry last month, is seeking to remove him from group firms too one after another.

He has already been ousted as chairman of (TCS) and Tata Global Beverages Ltd. EGMs have been called to remove him as director on these firms as well as and Indian Hotels.

Throughout, Wadia has been supporting Mistry, who continues to be at the helm and/or is director of some of the group companies.

Mistry's sudden and dramatic removal as the chairman of Tata Sons triggered a confrontation between the single-largest shareholder and the Tatas.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard