Tata Sons, TCS violated rules in sacking Mistry, says RTI

Updated: Wed, Oct 31, 2018
09:40 pm
PTI
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The dramatic sacking of Cyrus Mistry as chairman and director of Tata Sons and TCS violated provisions of Companies Act, RBI rules and more importantly, Tatas' own articles of association, RoC, Mumbai said in an RTI reply, a charge that the Tatas have vehemently denied.

Citing the NCLT order of August, which dismissed Mistry's petition challenging his removal, Tata Sons said all the requisite processes under the Companies Act were followed in removing Mistry as the group chairman and also from the board of group crown jewel Tata Consultancy Services (TCS).

"The respective board of directors acted as per the provision of the Companies Act as well as in compliance of the articles of association of the company. This was subsequently approved by both the shareholders of Tata Sons and TCS the NCLT has also confirmed that the process followed for removal of Mistry was valid and accordance with law," a Tata Sons spokesman told

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

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