KEEP WA­DIA’S SEAT VA­CANT IN THREE FIRMS: HC TO TATA SONS

Hindustan Times ST (Mumbai) - Live - - FRONT PAGE - Aye­sha Arvind

MUM­BAI: The Bom­bay high court, in an in­terim or­der on Fri­day, di­rected Tata Sons to keep one seat of an in­de­pen­dent di­rec­tor “va­cant un­til fur­ther or­ders” in each of its three com­pa­nies where in­dus­tri­al­ist Nusli Wa­dia cur­rently serves as an in­de­pen­dent di­rec­tor.

The di­rec­tions came in the back­drop of the dis­pute be­tween Wa­dia and Tata Sons, fol­low­ing a spe­cial no­tice is­sued by the lat­ter seek­ing Wa­dia’s ouster as the in­de­pen­dent di­rec­tor from three of its en­ti­ties—Tata Chem­i­cals, Tata Mo­tors and Tata Steel. Each of these three com­pa­nies is sched­uled to con­duct ex­tra­or­di­nary gen­eral meet­ings (EGM) later this month, to vote on the req­ui­si­tion seek­ing Wa­dia’s re­moval.

Ear­lier this month, four mi­nor­ity share­hold­ers of these three com­pa­nies had moved the Bom­bay high court against the spe­cial­no­ticeonWa­dia’sre­moval.

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