December 14, 2016 6:35:53 pm
Tata Teleservices on Wednesday said Cyrus Mistry has been removed as director and Chairman of the company after its shareholders “unanimously” passed a resolution moved by Tata Sons for his ouster. Tata Teleservices became the third Tata group firm after Tata Industries and TCS to remove the ousted Tata Sons Chairman from the board.
At the extraordinary general meeting (EGM) of equity shareholders of the company, an ordinary resolution was “passed unanimously as a result of which Cyrus P Mistry has ceased to be a director and consequently Chairman of the company with immediate effect”, Tata Tele said. The board of directors of the company had called the EGM based on the special notice and requisition by Tata Sons Ltd, which holds 36.17 per cent of equity shares of the company, on November 9, it added.
The board had convened the EGM of equity shareholders of the company “to consider and if thought fit to approve an ordinary resolution proposed by Tata Sons for removal of Cyrus Mistry as director of the company”. Tata Teleservices is one of the promoters of the listed firm Tata Teleservices (Maharashtra) Ltd.
Mistry was yesterday removed as director of Tata Group’s crown jewel, Tata Consultancy Services (TCS) with 93.11 per cent of shareholders present at the EGM voting for his ouster. On Monday, Tata Industries shareholders voted to remove Mistry as director ceased to be the chairman of the company in the first such instance of the embattled executive being ousted from the board since his removal as Tata Group chairman.
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