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Last Updated : Jan 04, 2017 12:41 PM IST | Source: Moneycontrol.com

Tata Sons likely to remove Mistry as director from board: Report

The media report suggests that Tata Sons members are going to meet over next few days and decide over the matter. However, the report added that while Tata officials said no decision has been taken yet, Mistry camp refused to comment.


Moneycontrol Bureau

A report in the Livemint says that Tata Sons is likely to remove Cyrus Mistry from its board as director as the battle between Mistry and the Group has now reached courts.

The media report suggests that Tata Sons members are going to meet over the next few days and decide over the matter. However, the report added that while Tata officials said no decision has been taken yet, Mistry camp refused to comment.

Mistry was removed from chairmanship of the Tata Group on October 24 last year. Following which both the parties had various public battles accusing each other of wrongdoing.

While Mistry has accused Ratan Tata of violation of corporate governance, the Tata group said that Mistry tried taking operating control over various companies.

In the most recent developments, Mistry has stopped down from board of operating companies like Tata Motors and Tata Steel.

Mistry family’s companies – Cyrus Investments and Sterling Investment – have also filed a petition in National Tribunal Company Law against Tata Sons.

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First Published on Jan 4, 2017 08:30 am
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