Tatas are waiting for Cyrus Mistry to quit as he continues to be the Chairman of other group companies
Advertisement
Even after Cyrus Mistry was removed as Tata Sons Chairman, he still continues to serve as the Chairman of other Tata Group companies. This is apparently not going well with the conglomerate and hoping he will quit on moral grounds.
Mistry still remains the Chairman of Tata Steel, Tata Motors, Tata Consultancy Services, Indian Hotels, Tata Global Beverages Limited, Tata Chemicals, Tata Industries andTata Teleservices . He also continues to be a director of Tata Sons and can be removed only by shareholders after being given a due warning. Mistry’s family's Shapoorji Pallonji Group, a construction major, owns nearly a fifth of Tata Sons.
Sources told NDTV, Tata believes that the sacked chairman of Tata Sons, Mistry, will resign from the companies on moral grounds after he made allegations againstTatas , which were called unsubstantiated claims and malicious allegations by the group.
The Group, however, is still signaling that its business is as usual at its peak and they have cracked down a few deals.
"Because of the way things have happened, a lot of it was undesired and that has rankled many investors. Hopefully these are things that will not turn ugly from here and the spat will end sooner than later," K Subramanyam, Co-Head, Equity Advisory, Altamount Capital, told NDTV.
VK Sharma Head of Business, Private Client Group, HDFC Securities, who is an investor in Tata Teleservices, also feels that Mistry should stand down on this one. "It is going to slow down decision-making so I think it would be proper for Mr Mistry to step down as chairman from these companies," he told NDTV.
Mistry, recently spent nearly six hours in theBombay House , the Tata Headquarter in Mumbai and also chaired the TBGL board meeting.
(image:Indiatimes)
Advertisement
Mistry still remains the Chairman of Tata Steel, Tata Motors, Tata Consultancy Services, Indian Hotels, Tata Global Beverages Limited, Tata Chemicals, Tata Industries and
Sources told NDTV, Tata believes that the sacked chairman of Tata Sons, Mistry, will resign from the companies on moral grounds after he made allegations against
The Group, however, is still signaling that its business is as usual at its peak and they have cracked down a few deals.
"Because of the way things have happened, a lot of it was undesired and that has rankled many investors. Hopefully these are things that will not turn ugly from here and the spat will end sooner than later," K Subramanyam, Co-Head, Equity Advisory, Altamount Capital, told NDTV.
Advertisement
Mistry, recently spent nearly six hours in the
(image:Indiatimes)
Advertisement
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Elections on a plate: Poll panels fix menu & expense ceiling for Samosa, tea, biryani & more
- Regenerative farming, cover crops will help farmers increase yields, reduce stubble burning: IDH CEO
- Sustainable Event Planning
- Ambani, Adani collaborate: RIL picks 26% stake in Adani Power project
- As back-to-office avatars turn casual, comfy sneaker sales pick up pace