Indian Hotels held off restructuring plans on Mistry ouster

Indian Hotels, the hospitality wing of Tata Group, held off an important restructuring plan that it was to announce on November 10 after it got wind of the group's plans to remove Cyrus Mistry as the Director of the company, reports Economic Times.The restructuring involved a complete makeover of the brand of the company, which mostly focussed on its key brand Taj. Also, the rejig would have entailed plans to deal with loss-making units. There were plans to discuss the selling off of around 40 IHCL properties.Tata Group had on Thursday asked Indian Hotels to call an extra-ordinary general meeting with shareholders to remove ousted Chairman Cyrus Mistry from the board of directors.