Comments
Ousted Chairman of Tata Sons, Cyrus Mistry has started an online campaign to get public support in his fight against the Tata Sons. He has floated a new website cyrusforgovernance.com which asks visitors to support him through a Facebook type 'like'. On day one , nearly 250 visitors had 'liked' Mistry's fight for ' ethical governance'.
Explaining the rationale for his stand , Mistry said that he was not doing this for himself but to uphold the values for which the Tata group was known for. He said that governance had broken down in the group.
"Mr. Ratan Tata, 78, former Chairman, Tata Sons and Mr. N.A. Soonawala, 81, former Vice-Chairman of Tata Sons, in their capacity as trustees of Tata Trusts took the veto rights of the Trustee-Nominated Directors as their entitlement to dictate to these directors how Tata Sons should conduct itself. They interpreted the Articles of Association to mean that they could call for information and seek discussions on any subject they considered material," Mitsry said in his letter to the shareholders.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.