Cyrus Mistry ouster News

Mistry was removed as TCS director with 93.11 per cent votes at the EGM held on December 13, 2016.

Tata veteran N Chandrasekaran on Tuesday took over as the chairman of Tata Sons, promising to deliver "industry leading" performance in all its businesses.

Tata group will enter a new era tomorrow as N Chandrasekaran takes over as chief, hoping to put behind an acrimonious boardroom battle that saw the ouster of Cyrus Mistry as Tata Sons Chairman.

Did the announcement of EGM with an aim to remove Cyrus Mistry as director of Tata Sons left Noel Tata in a quandry?

N Chandrashekharan's journey so far speaks of his mettle and spirit of a fighter who knew how to master the craftsmanship of getting into details. Born in 1963, Chandra, as he is universally called, along with his two brothers, would walk 3 km to his Tamil medium government school in a small village called Mohanur in Namakkal in Tamil Nadu.

As feud at India's biggest conglomerate continues, Tata Group's interim chairman Ratan Tata today said there has been a willful, well-orchestrated move to destroy his personal reputations through unsubstantiated allegations.

Tata Sons has slapped a legal notice on Cyrus Mistry for alleged breach of confidentiality by making public sensitive, confidential documents.  

The battle is on between Cyrus Mistry, former Chairman of Tata Sons and Tata Group. Losing one more forte, Cyrus P Mistry was on Monday removed as the Director of Tata Industries at shareholders' meet.

Cyrus Mistry has made a representation to the Board of Directors of Tata Steel defending his leadership ahead of the December 21 EGM which would consider his as director of Tata Steel.

Despite being removed as Chairman of Tata Sons, Mistry continues to head some group firms and is on boards of many.

S&P Global Ratings today said the continuing discord between the shareholders of Tata Group holding firm Tata Sons Ltd, has created uncertainty at the board level for group companies and could lead to slow decision-making in these entities.

Hitting back at Tatas, ousted Chairman Cyrus Mistry on Tuesday rejected charges of not contributing anything to the group's cash-cows TCS and JLR and alleged that patriarch Ratan Tata once tried to sell the IT firm to IBM and his "ego" led to bad business decisions like Corus acquisition at double the original cost.

Hitting back at Tatas, ousted Chairman Cyrus Mistrytoday rejected charges of not contributing anything to the group's cash-cows TCS and JLR and alleged that patriarch Ratan Tata once tried to sell the IT firm to IBM and his "ego" led to bad business decisions like Corusacquisition at double the original cost.

The latest arsenal thrown by Cyrus Mistry's office claims that there was a “near death experience' for the group's crown jewel TCS, when Ratan Tata had pitched for selling TCS to IBM.

As the Tata-Mistry battle rages on, two key board meetings will be held here on Thursday including one to seek removal of the ousted group chairman from the board of crown-jewel Tata Consultancy Services.

 Citing “heightened management risk” following the ouster of Cyrus Mistry as chairman of Tata Sons, Brickwork Ratings has revised outlook of Tata Steel to negative while it revised the ratings of its NCDs worth Rs 6,500 crore.

Tata group stocks on Friday bounced back after three days of continuous decline, rising up to 5.6 percent, on value-buying at a lower level.

Hitting out at Cyrus Mistry for making 'unsubstantiated claims and malicious allegations', Tata Sons today said the former chairman was fully empowered to lead the group and its companies but had "overwhelmingly" lost the confidence of board members.

Key Tata Group firms lost over Rs 10,000 crore for the second day Wednesday, extending the total erosion in market capitalisation to more than Rs 21,000 crore following Cyrus Mistry's ouster as Tata Group chairman.