MUMBAI:
Cyrus Mistry, who was abruptly removed as Chairman of the Tata Group on Monday, has emailed board members to say he is “shocked” by how he was ousted and that the “board has not covered itself with glory” and he was not given “a chance to defend myself.”
Mistry, 48, has been replaced by his predecessor, Ratan Tata, who is back as top boss of India’s largest conglomerate for four months. As a pre-emptive move against a legal challenge from Mistry, the Tatas have filed caveats or taken action in a series of courts.
Mistry has described his removal as “unprecedented” in India. His office has said that he is not considering a legal move “at this stage”. The board of the $100 billion group has nine members. Six voted to remove Mistry; two abstained; Mistry, per rules, did not get a vote.
more recommended stories
Court Slaps Rs. 1 cr on Pvt Dairy for Violating Milma’s TrademarkTHIRUVANANTHAPURAM:The Principal Commercial Court here has.
SC Expresses Shock on Madras HC Directive to Arrest Tamil Nadu ADGP JayaramNEW DELHI:The Supreme Court on Wednesday.
KSUM Calls RFP from Event Management Firms for ‘Huddle Global 2025’THIRUVANANTHAPURAM:Kerala Startup Mission (KSUM) has invited.
NSE International Exchange (NSE IX) Signs Strategic MoU with Cyprus Stock ExchangeMUMBAI:In a landmark development, NSE International.
TASMAC Probe: Madras HC Questions ED’s Powers to ‘Seal’ Premises under PMLA, Slams ‘Overreach’CHENNAI:In a strong oral observation, the.
Federal Bank and LuLu Group Team up for ‘Savings ki Vidya’ CampaignMUMBAI:Federal Bank has teamed up with.
Amway India Launches Nutrilite Triple ProtectKOCHI:With rising lifestyle diseases and growing.
Reflections Info Systems Invests in Mitz AITHIRUVANANTHAPURAM:Reflections Info Systems, a prominent technology.
Govt Debunks Reports Claiming Caste Enumeration Not Included in Census 2027NEW DELHI:The Central government has refuted.
PM Modi to Address G7 Session as India Races Ahead on Economic FrontNEW DELHI:Prime Minister Narendra Modi will.