Report: Ratan Tata advised Mistry to step down before the board meeting 

October 26, 2016, 12:45 pm
Report: Ratan Tata advised Mistry to step down before the board meeting 
BUSINESS NEWS
BUSINESS NEWS
Report: Ratan Tata advised Mistry to step down before the board meeting 

Report: Ratan Tata advised Mistry to step down before the board meeting 

Cyrus Mistry, who was removed as the Chairman of Tata Sons sent an e mail to Tata board members, protesting against his removal. This was reported by NDTV on Wednesday The mail, accuses the board of not giving Cyrus a chance to defend himself. “The board has not covered itself with glory,” Mr Mistry reportedly wrote in the email, adding that the board “never gave me a chance to defend myself. On Tuesday the Tata S group filed caveats against Mistry and his firm Cyrus Investment Pvt Ltd at various legal forums to prevent him from seeking an ex-parte order against his dismissal .

Quoting Harish Salve, the legal adviser of the Tata Group NDTV reported that Harish Salve, Mistry's decisions to sell assets acquired by the group's patriarch - including its steel interests in the UK - had not gone down well with the board and were seen as damaging the company's formidable reputation internationally.
According to NDTV , Ratan Tata met Mistry privately before the director board meeting and advised him to quit but that was turned down by him.

In the nine member director board six members voted for the removal of Mistry with two abstaining from the vote.