Cyrus Mistry Pushed Out Of Tata

(RTTNews) - Tata Sons ousted Chairman Cyrus Mistry on Monday resigned from board positions held by him in all Tata Group companies, including Tata Motors and Indian Hotels.

Cyrus Mistry was ousted as chairman of Tata Sons on October 24. Now he has stepped down as a director in Tata Steel Ltd., Tata Chemicals Ltd. and Indian Hotels Co., Tata Motors Ltd., Tata Power Ltd. and Tata Global Beverages Ltd. Last week, Tata Consultancy Services Ltd. had removed Mistry as a director.

In a statement, Cyrus Mistry said that he will take legal route against the Tatas.

"In order to be more effective, serve the objective of governance reform, and to regain lost ethical ground, I have decided to shift from the forum of the EGMs to a larger platform and also one where the rule of law and equity is upheld," he said.

"By removing myself from general meetings, I reinforce my position that this is not a fight for position but for a secure reform," he added.

Tata Sons, the holding company of the $103 billion conglomerate group, has called extraordinary general meeting of listed companies to consider its proposal to remove Mistry as director on their board.