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Last Updated : Nov 17, 2016 02:07 PM IST | Source: Moneycontrol.com

Tata Sons board meet may discuss removing Mistry's proxy powers

The much-awaited Tata Sons board meet today will deliberate on stripping the ousted chairman Cyrus Mistry's proxy powers -- which allow him to cast votes and turn up for shareholder meetings of group companies, reports The Economic Times.


Moneycontrol Bureau

The much-awaited Tata Sons board meet today will deliberate on stripping the ousted chairman Cyrus Mistry's proxy powers -- which allow him to cast votes and turn up for shareholder meetings of group companies, reports The Economic Times.

The Board of Tata Sons will be meeting on Thursday, which will be the first meet since the ouster of Mistry, who is likely to have confirmed his attendance to the meeting. The agenda of the meeting reportedly includes discussing earnings of the group companies, overall performance and outlook.

Although the independent boards of Tata Motors and Indian Hotels have affirmed their faith in Cyrus as Chairman, Mistry might it difficult to cobble together support from other group companies.

In notices issued to Tata Consultancy Services, Indian Hotels, Tata Chemicals, Tata Motors and Tata Steel, the holding company has requested them to hold board meetings in the next few weeks to remove Mistry as chairman and director.








 


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First Published on Nov 17, 2016 07:44 am
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