Ratan Tata asked me to remain on Tata Sons Board as non-executive director, says Mistry
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Ousted
Mistry had said he would continue to serve on the board of Tata Sons. In his petition to National Company Law Tribunal, Mistry said we would decide on the proposal made by Ratan Tata and inform the board even as Ratan Tata said it would be Mistry’s prerogative.
Reportedly, there were three requests made to Mistry to step down from the board before he was replaced on October 24.
The petition accuses Tata Sons and its board, including interim chairman Ratan Tata, of oppressing the interests of minority shareholders and mismanagement.
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According to the minutes filed of the board meeting, Mistry was informed before the meeting that Ratan Tata would join them. Nitin Nohria, the
At the meeting, Amit Chandra said a meeting of Tata Trusts on the same day had resolved that Mistry should step down. The reason given was that the Trusts had lost confidence in him for a variety of reasons.
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