Tata Steel's EGM to decide Nusli Wadia's fate today

Moneycontrol BureauThe extraordinary general meeting (EGM) of Tata Steel due today will decide whether Nusli Wadia remains as one of the independent directors of the company or not.Meanwhile Nusli Wadia decided not to attend EGM of Tata Steel and has urged shareholders to vote with a conscience.

Tata Sons had lined up EGMs for its various companies for this week to remove Cyrus Mistry and Nusli Wadia. Mistry on Monday had resigned from the boards of six listed companies.

The Economic Times reports that Wadia had earlier alleged that Ratan Tata made investments in loss-making UK operations at the cost of Indian operations and also said that Ratan Tata's close aide Lord Bhattacharyya had influence on Tata Steel decisions and access to price sensitive information which could lead to insider trading.