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TCS shareholders’ vote today for Cyrus Mistry

TCS shareholders’ vote today for Cyrus Mistry

Mumbai: TCS will on Tuesday hold an EGM looking for shareholders’ vote to oust Cyrus Mistry as a director of the company.

The change comes a month after Mistry was replaced by Ishaat Hussain as chairman of the software services firm.

December 12, Cyrus was removed as director and chairman of Tata Industries following a shareholders’ vote.

The TCS board, on 17 November, decided to call an EGM pursuant to the special notice & requisition dated November 9, 2016 sent by Tata Sons, shareholder of the company holding 73.26% of the paid-up equity share capital of the company.

TCS used one of the statutes that makes it possible to nominate the chairman of the board to change Mistry with Hussain.

Today’s shareholders vote will be the first of six such EGMs called by major listed Tata companies—Indian Hotels Co. Ltd (20 December), Tata Steel Ltd (21 December), Tata Motors Ltd (22 December), Tata Chemicals Ltd (23 December) and Tata Power Co. Ltd (26 December)—to seek Mistry’s ouster as director.

 

Mumbai: TCS will on Tuesday hold an EGM looking for shareholders’ vote to oust Cyrus Mistry as a director of the company. The change comes a month after Mistry was replaced by Ishaat Hussain as chairman of the software services firm. December 12, Cyrus was removed as director and chairman of Tata Industries following a shareholders’ vote. The TCS board, on 17 November, decided to call an EGM pursuant to the special notice & requisition dated November 9, 2016 sent by Tata Sons, shareholder of the company holding 73.26% of the paid-up equity share capital of the company. TCS used…

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