After Supporting Cyrus Mistry, Nusli Wadia Targeted By Tata Sons
Tata Sons has stepped up its battle against Cyrus Mistry, and the target this time is Nusli Wadia.
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Tata Sons has yet again stepped up its battle against ousted Tata Group Chairman Cyrus Mistry, except this time it has also targeted Nusli Wadia.
The group has called for an extraordinary general meeting of Tata Motors Ltd shareholders to consider removing Nusli Wadia and Cyrus Mistry as directors, the company said in a filing on the stock exchanges.
Apart from Tata Motors, Wadia is also on the board of Tata Steel Ltd and Tata Chemicals Ltd. On Thursday, the independent directors on the board of Tata Chemicals, including Wadia, expressed their “full confidence” in Cyrus Mistry as chairman of the company.
Tata Chemicals thereby became the second Tata group company to back Mistry, after Indian Hotels.
On Friday, however, Tata Chemicals’ non-executive, non-independent director Bhaskar Bhat resigned from the board with effect from 10 November, saying that the board ignored several important issues of ‘discomfort’ raised by him. Bhat said this in his resignation letter addressed to Mistry.
Earlier, the board of Tata Consultancy Services Ltd (TCS) became the first to remove Mistry as chairman of the company.
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