Cyrus Mistry sacked from post of director in Tata Industries
Mumbai [India], Dec. 12 (ANI): Cyrus Mistry was removed from the post of director of Tata Industries, at the Tata Industries Extraordinary General Meeting held today morning.
Following this move, Mistry also ceases to be the Chairman of the company by default.
The Board of Tata Industries, post the EGM, comprises, Mr. K.R.S, Jamwal, Mr. R. Bhinge, Ms. Ireena Vittal, Mr. Ashish Dhawan, Mr. N. Srinath, and Mr. F.N. Subedar.
Tata Industries is a subsidiary of Tata Sons. Several Tata companies, including Tata Motors, Tata Power, Tata Steel, hold equity in the company.
Earlier on November 11th, Tata Steel had stated that it had received a special notice from the promoter and principal shareholder to convene an Extraordinary General Meeting (EGM) to remove Cyrus Mistry and Nusli Wadia as its directors.
Two days after Ratan Tata replaced Cyrus Mistry as the interim chairman of Tata Sons', the later hit back at with an e-mail addressed to the board members, expressing shock at the "manner of his removal".
Mistry was appointed as the chairman in December 2012 and had been a director of the company since 2006. (ANI)