After TCS, Tata Teleservices' shows Cyrus Mistry the exit gate
Tata Group's telecom arm Tata Teleservices on Wednesday said that shareholders have unanimously passed the resolution for removal of Cyrus Mistry from its board.
It said,"The Extraordinary general meeting was held on Wednesday and the ordinary resolution was passed unanimously as a result of which CP Mistry has ceased to be a Director and consequently Chairman of the Tata Teleservices with immediate effect."
Recently, shareholders of Tata Consultancy Services (TCS) also removed Cyrus Mistry as its director. In an EGM held in Mumbai, 2450 shareholders of 93.11% shares in TCS voted to remove Mistry. 6.89% shares were against the resolution of Tata Sons to remove Mistry.
Five other group companies - Indian Hotels, Tata Hotels, Tata Chemicals, Tata Power and Tata Steel are also scheduled to have EGMS this month to remove Mistry from its Board of Directors.