Independent directors News

The report also seeks to address issues faced by investors on voting and participation in general meetings, and disclosure and transparency related issues.

The independent directors of Tata Motors gave board Chairman Cyrus Mistry a tacit nod on Monday, but stopped short of an outright endorsement, or picking sides in the power struggle within India's largest conglomerate.

In a setback to Cyrus Mistry, independent directors of Tata Motors on Monday did not offer unanimous support to his leadership and instead backed all decisions taken by the company, including on small car Nano, which have been criticised by the ousted chairman of Tata Sons.

Hardening its stand, Tata Sons on Sunday said its management will do whatever is required to deal with the situation arising out of the ouster of Cyrus Mistry and wanted its independent directors to ensure future of Tata companies and interest of all stakeholders is protected.

Cyrus Mistry received a major boost, with the board of directors of Indian Hotels Co Ltd unanimously supporting his leadership and continuance as chairman of the company.

Months after the BJP government sacked most of the independent directors at top oil PSUs, the boards of blue chip firms like ONGC and GAIL are functioning with most of those positions still lying vacant.

Ahead of the Annual General Meeting on Tuesday, two independent directors of state-run steel maker SAIL, who were appointed by the UPA government, have resigned.

After sacking four independent directors of IOC, the Narendra Modi-government is now seeking to remove nine similar Congress-appointees from the board of ONGC, HPCL and MRPL.