Tata Sons Ltd. removes Cyrus Mistry as Director

At a general meeting held on Monday, the shareholders of Tata Sons voted in favour of removing Cyrus Pallonji Mistry from the post of Director of the company. The vote was passed with 'requisite majority'.
 
According to reports, the removal was almost certain. Last month also, Tata Sons had called for an extraordinary general meeting (EGM) to remove Mistry from its board. However, Mistry had legally challenged the move.

Similarly, on October 24 2016, Tata Sons had abruptly removed Mistry as its Chairman and also sought his dismissal from other Tata group companies such as Tata Motors and TCS. Mistry subsequently, resigned from the board of six companies but dragged Tata Sons and his interim successor Ratan Tata to the National Company Law Tribunal (NCLT). After the board meeting of October 24, 2016, Tata Sons had resolved that Mistry shall, notwithstanding his ceasing to be the Chairman, continue as a director of the company.

As a matter of fact, Cyrus Mistry's family firm holds 18.4 per cent stake out of the two-third shareholding in the company, while Tata Group holds the rest of the stake.
 
Cyrus Mistry’s father Pallonji Shapoorji Mistry was on the board of the company from 1980 and stepped down in 2004. Cyrus Mistry joined the board in 2006. His family members have been stakeholders in Tata Sons since 1965.