Tuesday, 20 December 2016

Tata group to continue to hold EGMs in cos

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Indian Hotels will continue to hold its EGM today despite ousted Chairman Cyrus Mistry resigning from the boards of 6 listed Tata companies yesterday. The Tata Group will continue to hold EGMs as scheduled in these companies. The electronic voting deciding Mistry's fate on the board of Indian Hotels, is already carried out. 

Tatas are confident that they have the numbers in their favour. Just days before Tata Sons' Extraordinary General Meeting (EGM), ex-Chairman Cyrus Mistry today resigned from six listed Tata group companies including Tata Chemicals , Indian Hotels , Tata Steel and Tata Motors with immediate effect. Talking about Mistry’s resignation, one of the minority shareholders in an interview to the channel said that it was a good thing he stepped down.

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