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
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market