Tata Motors facing Opposition in removing Cyrus Mistry

Tata Motors facing Opposition in removing Cyrus Mistry

 
0.0
 
0.0 (0)
1   0   0   0
Write Review
cyrus mistry-647x450.jpg
Sources have stated that Tata Motors, the $22 billion producer of Jaguar sports cars and Land Rover sport utility vehicles, is shaping up as a key battleground in the fight for control of India’s biggest conglomerate.


It was stated that Tata Group is currently facing opposition to its plan to remove Cyrus Mistry from the automaker’s board after Glass Lewis and Institutional Shareholder Services recommended investors vote against the move. The two US proxy advisory firms wrote in reports this month the reasons for the Tata Motors chairman’s ouster haven’t been clearly explained.

Meanwhile foreign investors holding American depository receipts have the potential to influence the vote at next week’s extraordinary general meeting, as they control about 18.5% of the car maker's stock, data compiled by Bloomberg show. Presently Tata Sons have revealed December 13 it bought an additional 1.7% of the car maker, bolstering its position before the December 22 shareholder meeting.


Earlier Mistry has said he was pushing to transform Tata Group into a more prudent enterprise than the globetrotter that has bought Jaguar Land Rover under previous chairman Ratan Tata. The automotive unit has been a particular point of contention, with Mistry supporters claiming the Nano project to produce the world’s cheapest car was a drain on resources.

source:http://www.apherald.com/

User reviews

There are no user reviews for this listing.
Already have an account? or Create an account
Popular Editorials of the week

Kajal Aggarwal MOCKS Samantha once again in Public

Mar 27, 2017
The lead Tollywood actresses always grab attention by mocking each other. The Cold war…

'BAAHUBALI 2' - Music Review

Mar 27, 2017
The Most Celebrated movie of India is going to get concluded with the sequel which is all…

INSIDE STORY: Pawan Kalyan Taking Fans for Granted

Mar 27, 2017
Powerstar Pawan Kalyan's Katamarayudu had registered a Pre-Release Business of 102 Crore.…

INSIDE STORY: Trivikram All of Sudden Under Big Pressure

Mar 27, 2017
Powerstar Pawan Kalyan's Katamarayudu has managed to survive in the opening weekend with…

Lyon Pegs India Back With 4 wickets

Mar 27, 2017
In the Dharmasala decider team India scored 248 runs on the second day at stumps loosing…

TRUMP most expensive vaccation UPSETS AMERICANS!!!!

Mar 27, 2017
While President Donald Trump makes hard to put his executive orders in action, his family…

Natural remedies for teeth ache

Mar 28, 2017
Clove oilThis has remarkable bacteria- killing properties. It also has a numbing effect,…

MODI's intentions about INDIA at Brahma Kumaris....

Mar 27, 2017
 India does not believe in imposing its views on anyone, the PM started his speech with…

ISI out to eliminate PM Modi?

Mar 27, 2017
Is ISI out to eliminate PM Modi? seems so according to the intelligence reports coming…

Firebrand's blistering attack on Pawan and Chiru?

Mar 27, 2017
Jagan's YSRCP has a firebrand leader Roja who fires on all cylinders selecting one or the…

Indias First Book Summary and Micro-Learning Platform

Mar 28, 2017
As per a National Book Trust - NCAER survey in 2009, there were 83 million Indians (13-35…

RGV's sensational tweet on Yogi?

Mar 27, 2017
Maverick director Ram Gopal Varma is renowned for his controversial tweets. After his…
Latest videos
View all videos