This came after Mistry said he was a 'lame duck' chairman as shackles around him and interference left him powerless
Only last week IHC's independent directors had shown their faith in Mistry's leadership
Believe Tata Motors and TCS offer good potential regardless of leadership
Ongoing feud between the Tata group and Mistry will have operational implications, warns IiAS
S Padmanabhan will oversee human resources department; Harish Bhat to manage Tata Brand
Experts analyse the role of independent directors in such conflict situations
Mistry has levelled a series of allegations against Tata and contended that he was relegated to a 'lame duck' chairman
A stable leadership at TCS is extremely important for Tata Sons
Mistry was removed as chairman of the 148-year-old Tata Group this week in a move that stunned corporate India
3 executives were members of an executive council disbanded after Tata dismissed chairman Cyrus Mistry
Darius Khambata, trustee on Tata Trusts board, mediates talks
Tata trusts appoint Ratan Tata interim chairman, sets up 5-member panel to choose next chairman
The weight and might of the 18 per cent stake in Tata Sons inherited by Cyrus Mistry's father Pallonji Shapoorji played a key role in him trumping international competition to take up the corner office at Bombay House. This stake will come into play again if things turn less friendly between the Mistrys and their fellow shareholders: Sir Dorabji Tata Trust and Sir Ratan Tata Trust, which between them own 66 per cent and are headed by Ratan Tata. Here's a look at how the Mistrys and the trusts came to own their Tata Sons shares:
N Chandrasekaran heads TCS whereas, Speth was appointed as CEO of Jaguar Land Rover in February 2010
Cyrus Mistry had disclosed writedowns to the tune of USD 18 billion faced by the conglomerate due to five of its unprofitable businesses
The gross NPAs of Tata Capital on a consolidated basis declined to 3.8 per cent in 2015-16 from 4.2 per cent in FY15
Tata Sons' valuation estimated at Rs 5 lakh crore
The earth is disappointing. It's time to move to outer space
TCS CEO N Chandrasekaran touted to be frontrunner for the top job
Mistry, in his letter to Tata Sons, pointed out that the group's European steel business faces potential impairments of $10 bn