Tata Sons to call EGM to take up removal of Mistry

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Tata Sons will be calling a TCS EGM to take up removal of Cyrus Mistry. TCS parent company Tata Sons and its directors have lost confidence in Mistry, says the statement. Tata Sons Board feels Mistry’s removal is necessary for future success of the group. Post removal as group chairman on October 24, Mistry has made unsubstantiated allegations, adds Tata explanatory statement. 

 

The statement goes on to add that Mistry has cast aspersions against Tata Group companies and such conduct of Mistry is not in the interest of the company. mistry has attempted to besmirch the image of Tata Group. Shareholders in TCS and possibly even in Indian Hotels have the power to have Mistry removed as director. And he will cease to be a Chairman automatically.