Though the National Company Law Tribunal (NCLT) refused to stay the holding of the extraordinary general meeting (EGM) of Tata Sons (TS) to oust former chairman Cyrus Mistry (pictured), the case filed by his companies in December 2016 in the NCLT, citing oppression and mismanagement at the Tata Group, continues.
The shareholders of TS, at the EGM held on February 6, 2017 removed Mistry who holds 18% of the shares of the apex holding company, as a director. With this, Mistry was removed from the only position that he had held on to within the Group, following his resignation from the......