New Delhi: Shareholders of Tata Sons on Monday during the Extraordinary General Meeting (EGM) passed with requisite majority a resolution to remove Cyrus Mistry as the Director of the company.
"The shareholders of Tata Sons Ltd, at the extraordinary general meeting held today, passed, with the requisite majority, a resolution to remove Cyrus P Mistry as a Director of Tata Sons Ltd," the Tata Group's holding firm said in a statement.
Following his ouster as the director of Tata Sons, Mistry will now have to give up his last official position across Tata Group companies.
Mistry became a director in Tata Sons in 2006.
Mistry had moved National Company Law Tribunal (NCLT) and later National Company Law Appellate Tribunal (NCLAT) seeking a stay on the EGM.
The National Company Law Tribunal (NCLT)refused to grant a stay on the extraordinary general meeting on February 6, and will only hear Mistry camp’s petition, challenging his ouster as the Chairman of Tata Sons, on February 13 and 14.
If Mistry fails to argue the case, NCLT will dismiss the case.
Mistry was ousted as chairman of Tata Sons on October 24 following a boardroom tussle, with chairman emeritus Rata Tata taking over as interim chairman.
N Chandrasekaran, the former CEO of TCS was announced the next Chairman of Tata Sons on January 13 and takes over as the role formally on February 21.
