Tata Steel Ltd has withdrawn its membership from the Indian Steel Association (ISA), an apex steel industry body.
Subsequent to it, the company's CEO and Managing Director (MD) T V Narendran has also stepped down from the Presidentship of the Association, tenure of which was scheduled to end in August.
An ISA President is elected for a period of two years.
Confirming the development, a Tata Steel spokesperson said, "Tata Steel has withdrawn its membership from the Indian Steel Association (ISA) owing to various considerations.
"Accordingly, T V Narendran, CEO & MD, Tata Steel, has stepped down from his position as the incumbent President, ISA."
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