In a sharp battle at Tata group, partriarch Ratan Tata led holding entity removed Cyrus Mistry as Chairman of TCS, the conglomerate’s most successful firm and called a shareholders meet to remove him from IHCL that runs Taj Hotels. Mystery continued as Mistry, who was ousted as Chairman of Tata Sons in a surprise move last month, however dug in his heels, rallying around independent directors of Tata Chemicals Ltd., the second group firm after Indian Hotels Co.Ltd where independent directors have backed him as Chairman. The tug of war for top post continues and boardroom war escalated to enormous proportion.
Jayanthi S Maniam
(The views expressed by the author in the article are his/her own.)
