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Nusli Wadia News
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Though there has been a significant rise in the number of billionaires, but only six could make the cut in the top 100 club on the Forbes India Rich List 2017.
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The grand house built by Jinnah is located in Malabar Hill area in south Mumbai.
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Nusli Wadia was voted out as an independent director of Tata Chemicals at an extraordinary general meeting (EGM) held on Friday.
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Noted industrialist and interim boss of Tata Sons on Friday said there was a definite move to damage his personal reputation over the last two months.
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Nusli Wadia files criminal defamation case against Ratan Tata, directors of Tata sons
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Tata Motors voted for the removal of Independent Director Nusli Wadia from the company who was alleged to have sided with the estranged chairman Cyrus Mistry.
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Several retail shareholders who addressed Tata Motors' EGM convened to remove Nusli Wadia from the board today endorsed the resolution, while a few threatened to sue the Bombay Dyeing patriarch for terming the meetings "stage-managed".
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90.8 percent of shareholders present at yesterday's EGM voted in favour of his ouster.
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Not one to just give up, ousted Chairman of Tata Sons Cyrus Mistry on Tuesday vowed to continue his fight against chairman emeritus Ratan Tata and moved the National Company Law Tribunal alleging oppression and mismanagement of minority interest.
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The spat between Tata Group and Mistry escalated on Thursday with industrialist Nusli Wadia filing a defamation case against Tata Sons and seeking Rs 3000 crore in damages.
Tata Steel on Thrusday said the Bombay High Court will on Friday hear the suit filed by four shareholders challenging the proposed removal of industrialist Nusli Wadia as an independent director on the company board.
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Ahead of Nusli Wadia`s removal in the December 22 "extraordinary" general meeting, the independent director of Tata Motors Ltd (TML) said on Wednesday that the Nano small car has proved to be "a serious drain on the financial resources" of the company.
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In a fresh letter to shareholders of Tata Motors, Nusli Wadia, an independent director on board of various Tata companies, has alleged lapses in governance at the auto maker.
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Tata Sons on Tuesday hiked its stake by nearly 2 percent in Tata Motors by buying additional shares for Rs 2,430 crore, days before the auto maker's shareholders' meet to discuss the ouster of Cyrus Mistry as director.
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Accusing interim chairman of Tata Sons, Ratan Tata of violating Sebi's insider trading norms, Nusli Wadia, an independent director on the board of Tata Group companies has claimed that the former asked for price-sensitive information from Tata Group companies.
With Tata Sons seeking to remove him as director from main listed group entities, Nusli Wadia today hit back saying he has been targetted for his "independence of mind and action" and he is not required to act in their interest as he does not not serve the Tata group in any capacity.
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The spat between Tata Group and Mistry camp appeared to be escalating with industrialist Nusli Wadia Wednesday saying that he has been left with no option other than defamation proceedings against the conglomerate.
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As the boardroom battle at the India's largest conglomerate rages on, Tata Sons has asked Nusli Wadia to withdraw his legal notice saying there was nothing vindictive in its resolution seeking his removal as independent director on board of group firms.
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