[volkman10]

Cyrus Mistry removed as director of Tata Industries.

Sacked Tata Sons chairman Cyrus Mistry has been removed as director of Tata industries, a Tata Sons spokesperson said on Monday.
Mistry, who was earlier removed from the post of chairman of Tata Industries, was removed as director today after an Extraordinary General Meeting or EGM.

In the meanwhile, six other companies - Tata Consultancy Services, Indian Hotels, Tata Motors , Tata Chemicals, Tata Power and Tata Steel - have called EGMs. Tata Motors will hold two such meetings - one for its ordinary shareholders and the other for its differential voting rights investors

Link

[volkman10]

Cyrus Mistry resigns from all Tata Group companies.

Mistry also revealed in his statement that he had decided to shift his campaign to a larger platform where “the rule of law and equity is upheld” seemingly saying that the battle could head to court following weeks of ongoing speculation.

Link

[volkman10]

Cyrus Mistry takes Tata Group to court, moves Company Law Tribunal claiming oppression.

First hearing may take place on December 22.

Link

[volkman10]

The boardroom fight gets uglier!

Confirm you aren’t leaking sensitive information- Tata Sons to Cyrus Mistry

We have credible information that you have wrongfully and dishonestly taken movable property…out of possession of the Company

In its latest notice to Mistry, which the company sent through a partner of leading law firm Shardul Amarchand Mangaldas, it sought “written confirmation” that Mistry has not passed on confidential information to any “Shapoorji Pallonji Group Companies, Afcons, your family members, relatives and other affiliates”.

The tribunal posted the matter for an early hearing on January 31-February 1, 2017. It gave all parties time till then to file replies and rejoinders. Mistry, who was given a week, is believed to have filed his reply before NCLT on Thursday. Tata Sons has to file its reply to the petition and his reply.

Link

[CrazyToDrive]

N Chandra new Chairman of TATA Sons.

http://timesofindia.indiatimes.com/b...w/56501228.cms

[condor]

Ratan Tata says it is conflict of interest: the matter communicated to Cyrus Mistry in 2013 itself.

http://www.msn.com/en-in/money/topst...cid=spartanntp

[catchjyoti]

At 53 years old, if he stays till the mandatory retirement at 75, he will have a 22 year long run at the helm!

Wish Chandru all the best!

[e46]

@Mods: The title of this thread should be edited now to reflect current incumbent

--Abhishek

[condor]

Originally Posted by CrazyToDrive

N Chandra new Chairman of TATA Sons.

Interestingly:

http://www.thenewsminute.com/article...urugappa-55673

N Chandrasekaran was appointed Chairman of Tata Sons, his brother N Ganapathy Subramaniam became the new COO of TCS while eldest brother N Srinivasan is currently the group finance director at Murugappa Group.

[volkman10]

N. Chandrasekaran appointed as Tata Motors chairman.

Less than a week after he was appointed chairman of Tata Sons – and less than 24 hours before Tata Motors launches its Hexa crossover flagship in Mumbai – N Chandrasekaran has been appointed by Tata Motors as its chairman.

Link

[dZired]

Tata Motors has officially appointed N. Chandrasekaran as its new Additional Director and Chairman. He will be taking responsibility of the new position from immediate effect. Chandrasekaran was recently named the Executive Chairman of Tata Sons, the $103 billion holding company of the salt-to-software conglomerate.

Chandrasekaran joins Tata Motors at a time when the company is about to launch a range of new products as an attempt to regain its lost market share. Though the Tiago hatchback launched last year did help the car maker to take the third spot in the monthly sales charts, Tata is relying heavily on its upcoming products to enhance its market share and bring new customers into its portfolio. The first of these products - the Tata Hexa will be launched today, just a day after Chandrasekaran takes charge of his new role. Other products in the pipeline include the Nexon compact SUV and the Kite5 compact sedan.

It will also be interesting to see how N. Chandrasekaran handles the Nano project. Cyrus Mistry, who was ousted from his role as Chairman of Tata Sons in October last year, had mentioned that the Nano was attracting huge losses for the company. However, Tata Motors has been unable to shut down the project due to 'emotional reasons'. According to the ousted Chairman, the Nano has constantly recorded losses for the automaker, peaking at Rs. 1,000 crore.

Chandrasekaran has been a part of the Tata Group since 1987. He was appointed as the CEO and MD of Tata Consultancy Services (TCS) in 2009. Under his leadership, TCS has grown to be the country's most valuable IT company.

Source: ET Auto

Link to Team-BHP News

[i74js]

It will be a big challenge for Chandra !

The expectations would be high, authorities will be limited as (Tata Sons) have taken steps to curb the power vested with the Chairman. Also in the case of Mr. Mistry, independent directors created hurdles for Tata by voting in favour of the previous Chairman.

- Expectations from Tatas and Shareholders
- Non-Parsi
- from TCS Executive to Chairman
- Court case from Mistry
- Identification of sr. executives who might still play in favour of Mr. Mistry and how to bring them back into the system
- Delivering on multiple fronts including handling of the decisions taken by previous Chairman (reverse them or maintain status)

All the best !

[GrammarNazi]

Update :

The National Company Law Tribunal (NCLT) rejected Cyrus Mistry's charges of oppression and mismanagement against Tata Sons on the basis that that he individually didn't have the requisite shareholding (>10%) to bring such a petition.

Link

[sanstorm]

I could not find any separate thread, however there are many similarities between Tatas and now the saga at Infosys. The overly criticism, bad mouthing and allegations resulted in Vishal Sikka deciding to resign finally. At least this is how it looks at the surface/from outside.

I felt the inabilities of founders/promoters from taking a backseat and giving freehand to the chosen professional does need lot of improving in corporate India. Today it is easy for the founders to use their bigger than life size image , tough business context and typically longer time for RoI , thus all together pans unfair to the guy already have big shoes to fill.

I felt except of Mistry been removed, while Dr. Vishal Sikka stepping down are subtle and simple differences. What does the knowledgeable bhpians thinks about this whole episode?

[condor]

Mistry's plea rejected:

http://news.rediff.com/commentary/20...iveupdates.htm