 "Wadia sends third notice to Tata Sons")
Nusli Wadia, an independent director on the boards of Tata Chemicals, Tata Motors and Tata Steel, served yet another notice against Tata Sons, asking the Tata group holding company to withdraw its special notice to Tata Motors to remove him from the company’s board.
In the past two days, Wadia had sent similar letters to Tata Sons on the special notice it had sent to remove him from Tata Steel and Tata Chemicals boards.
Tata Sons has not replied to the notice on Wadia’s ouster from Tata Steel board, whose deadline expired on Wednesday.
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Wadia had mentioned in his notice that he would initiate civil and criminal proceeds against Tata Sons and its directors on the special notice sent to Tata Steel. A legal battle between Wadia and Tata Sons and its directors can now be expected.
In its special notice, Tata Sons had said Wadia was galvanising independent directors against the Tatas and was acting in concert with Cyrus Mistry. The notice also said that Wadia was acting as an interested party. Wadia has sought proof on these allegations within two days.
The Tata Sons board had asked its group companies to remove both Mistry and Wadia from their boards. The extraordinary general meetings for their removal would be held in December.
