Tata Sons, Ratan Tata and Tata Trust file four caveats against Cyrus Mistry

New Delhi, Oct 25:?Tata Sons, Ratan Tata and Sir Dorabji Tata Trust have filed four caveats against former Tata Sons chairperson Cyrus Mistry. The caveats were filed in the National Company Law Tribunal. This comes a day after a board announcement said that Mistry would be immediately replaced by Ratan Tata, for an interim period of four months.
Ratan Tata, speaking to journalists in Mumbai on Tuesday, said that his appointment was for a short-term and the process to succeed him would soon begin. "Assumed role of interim chairman for stability and continuity so that there is no vacuum," Tata said.
"The company's board and the principal shareholders in its collective wisdom took this decision, which they thought may be appropriate in the long term interest of Tata Sons and the Tata Group," the company spokesperson told reporters.
The Pallonji Mistry group holds around 18 per cent stake in Tata Sons which makes them the largest shareholder. Tata Trusts and some of the Tata Group companies hold the remaining stake. Agencies
Source: Agencies


  
  

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