Saturday, 24 December 2016

Nusli Wadia voted out as independent director of Tata Chemicals

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Shareholders of Tata Chemicals have voted out Nusli Wadia as an independent director of the company with 75.67 per cent votes going in favour of a resolution moved by Tata Sons to remove him at the company's EGM yesterday. According to a regulatory filing by Tata Chemicals, out of the total of 25.48 crore shares of the company, 14.91 crore shares were voted. 

Out of this, 11.28 crore were in favour of the resolution to remove him. The company said 3.62 crore votes, accounting for 24.33 per cent of votes polled, were against his removal. Tata Chemicals also said the shareholders have approved a resolution to appoint Bhaskar Bhat as a director of the company with 79.26 per cent of votes going in his favour.

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