Sacked Tata Sons chairman Cyrus Mistry has been removed as director of Tata industries

NEW DELHI: Sacked Tata Sons chairman Cyrus Mistry has been removed as director of Tata industries, a Tata Sons spokesperson said on Monday.

Mistry, who was earlier removed from the post of chairman of Tata Industries, was removed as director today after an Extraordinary General Meeting or EGM.

In October, Mistry was fired as chairman of Tata Sons, the holding company of all Tata businesses. The former chairman RatanTata then came back as chairman. Still, Mistry remains on the board of several Tata companies

In the meanwhile, six other companies – Tata Consultancy Services, Indian Hotels, Tata Motors , Tata Chemicals, Tata Power and Tata Steel – have called EGMs. Tata Motors will hold two such meetings – one for its ordinary shareholders and the other for its differential voting rights investors – The Economic Times reported.

TCS is expected to hold its EGM tomorrow.

Top officials of five large mutual funds holding bonds and shares of Tata companies told The Economic Times they would either vote in favour of interim chairman Ratan Tata or abstain in the upcoming EGMs) implying that the outcome could be in favour of the Ratan Tata camp.

Tata Industries promotes Tata ventures in several sectors, including control systems, information technology, financial services, auto components, advanced materials, telecom hardware and telecommunication services.

Bureau Report