Tata Sons has told Indian Hotels and Tata Consultancy Services to call for an Extra-Ordinary General Meeting of their respective shareholders to remove Cyrus Mistry as a director in both these firms. Mr. Mistry, ousted as chairman of Tata Sons last month, had got support from independent directors of IHCL to continue as its chairman.
TCS’ board meeting to record its results had taken place before the October 24 coup at Tata Sons. “A requisition is received from Tata Sons Limited, a shareholder of the Indian Hotels Company Limited (the ‘Company’), holding 28.01 per cent of the paid-up equity share capital of the company to convene an Extra- Ordinary General meeting of the shareholders of the company, in the manner prescribed under applicable law, to pass the resolution for removal of Mr. C. P. Mistry as director of the company,” said Indian Hotels in filing to the exchanges.
Similarly, a TCS statement to the exchanges informing them about Mr. Mistry’s removal as its chairman said: “Tata Sons Limited has issued a special notice ...and a requisition for convening an extraordinary general meeting of shareholders of the company ...to consider a resolution for the removal of Mr. Mistry as director.”
ADVERTISEMENT
In a statement on Thursday explaining the removal of Mr. Mistry from Tata Sons, the company said, “Having been replaced as the chairman of Tata Sons, where the majority of the Board and the major shareholders had expressed lack of confidence, Mr. Mistry is trying to gain control of IHCL with the support of the independent directors of the Board.