Cyrus Mistry has sent a note to Tata Global Beverages Ltd (TBGL) alleging that the company is trying to hide the truth on what really transpired at its board meeting held on November 15.

Mistry, in a series of emails between November 19 and November 22 to TGBL’s Secretary V Madan, asked for the audio-visual recording of the November 15 board meeting, where he was ousted as the Chairman.

However, Madan replied that the recording could not be done due to a system failure.

According to sources, Mistry expressed his shock and surprise with the “failure” to record the board meetings. He wrote back that this was an attempt to hide the truth by “conveniently stating” that the recording did not work.

To this, Madan replied that it was a genuine situation. He asked Mistry not to attribute any motive, as the draft minutes had captured the proceedings accurately.

When contacted, a TGBL spokesperson said: “TGBL would like to confirm that the company conducts, and has always conducted, its board meetings in accordance with the applicable laws.”

Two versions There are two versions of what really happened at the rather acrimonious November 15 board meeting.

TGBL had said the board of directors resolved to replace Mistry as chairman by majority vote, with seven out of the 10 directors present at the meeting voting in favour of the resolution.

Mistry’s office said that there was nothing on the agenda for the meeting about replacing the chairman, just as there was nothing in the Tata Sons board agenda on October 24 about his removal as Chairman.

Related Topics