Tata vs Mistry: What’s next
PremiumOver the coming month, shareholders of Tata Group firms will decide whether the Cyrus Mistry stays as director in their respective companies
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It is possibly the biggest corporate boardroom battle since the Ambani brothers split the Reliance business empire in 2005.
After the $103 billion Tata group removed the chairman of its holding company, Cyrus Mistry, in a boardroom putsch on 24 October, the latter didn’t go quietly. Both sides have been engaged in an intense media war with allegations and counter allegations.
ALSO READ | Cyrus Mistry-Ratan Tata spat: A look at how the events unfolded
The Tatas say Mistry betrayed the trust reposed in him; the ousted chairman says that he was working for the betterment of the group (where he is a shareholder) and was creating a new structure and improving transparency.
While no legal recourse has been taken by either side, the battle moves to its end game: shareholders will now decide whether Mistry stays as director in their respective companies.
