EGM News

Media report telling Invesco's victory is false, Bombay High Court advised ZEEL to call the EGM.

The Bombay High Court on Monday adjourned to March 7 hearing on a suit filed by four minority shareholders of three Tata Group companies seeking to restrain the promoters from voting at extraordinary general meetings on a resolution to remove industrialist Nusli Wadia as independent director.

Shareholders of Tata Sons on Monday during the Extraordinary General Meeting (EGM) passed with requisite majority a resolution to remove Cyrus Mistry as the Director of the company.

Alleging violation of the tribunal's order in initiating steps to remove him from the board, two investment firms owned by the family by Cyrus Mistry on Wednesday filed a contempt application at NCLT against Tata Sons and its directors including Ratan Tata.

Ousted Tata Group chairman Cyrus Mistry on Tuesday told shareholders of Tata Consultancy Services (TCS) in a letter that he is not hankering for office and his fight is to save the soul of India's largest conglomerate.

Claiming that Tata Power fared much better during his tenure than earlier, ousted Tata Group Chairman Cyrus Mistry has asked for support from company's shareholders against promoters'decision to remove him from board.

Locking horns with Tata Sons, ousted chairman Cyrus P Mistry and his supporter, independent director Nusli N Wadia, will contest the proposal to remove them from boards of Tata Steel and Tata Chemicals by making written and oral representation to shareholder.

Tata Steel's ousted Chairman Cyrus Mistry and Board Director Nusli Wadia are likely to address shareholders at the December 21 extraordinary general meeting (EGM) to present their side of the story in the ongoing Tata-Mistry board room battle.