skip to content

Cyrus Mistry’s resignation is assumed as a new beginning


Ousted Tata Sons Chairman Cyrus Mistry’s resignation from the boards of remaining six listed Tata companies must be read as a new beginning to clean up some of the issues plaguing the governance structures across the group, proxy advisory firm IiAS said today.

In a dramatic turn of events, Mistry — who was sacked as Tata Sons Chairman on October 24 — yesterday quit from the boards of six listed Tata group companies.

“In doing so, it must also find an appropriate strategy to calm the discord — going to the courts will be detrimental for both sides,” it added.

Noting that the public disclosures made by both sides — as explanations, rebuttals, and representations — have been disconcerting for investors, IiAS said the disclosures have raised some legitimate questions on how the Tata group functions within its internal structures.

Among others, the report said that Tata group must ensure that there would be a “balanced power structure at Tata Sons’ board”.

The report also has a disclaimer saying that Tata group, through Tata Investment Corporation Ltd, holds equity in IiAS.

(With PTI Inputs)

Also Read: India register their longest unbeaten streak in test after beating England by 4-0


Please enter your comment!
Please enter your name here

Share post:



More like this

PM Modi Takes ‘Emergency’ Swipe At Congress; Kharge Counters

New Delhi: As the first session of the newly...

18th Lok Sabha: PM Modi Takes Oath As Members Of Parliament

New Delhi: As the first session of the 18th...

Gunman Attacks Churches, Synagogues In Russia, 15 Killed

New Delhi: An Attack in Russia's North Caucasus region...

Bhartruhari Mahtab Sworn In As Pro-Tem Speaker of 18th Lok Sabha

New Delhi: Seven-time MP Bhartruhari Mahtab was sworn in...