The Hindu Business Line

Tatas line up big guns in ‘war room’

Tasked with outlining strategy for upcoming EGMs of Tata Steel, Tata Power, Tata Chemicals

- SURESH P IYENGAR RAJESH KURUP

The Tata Group headed by Ratan Tata is lining up some big guns in a ‘war room’ at Bombay House, the Group’s headquarte­rs, to formulate its strategy in its tussle with ousted Chairman Cyrus Mistry ahead of crucial extraordin­ary general meetings (EGMs) of three Group companies.

The EGMs of Tata Steel, Tata Motors and Tata Chemicals are scheduled for later this week; promoters Tata Sons and Tata Trusts are seeking shareholde­r approval to remove Mistry from the boards of the respective companies. Unlike Tata Consultanc­y Services, where the promoters commanded enough stake to ensure a walkover last week, they will need to garner public support in a close vote. Institutio­nal investors may, however, vote in favour of the promoters, an analyst said.

Among the Tata loyalists whose services have been requisitio­ned are: Prasad Menon, who retired early this year as Chairman of Air Vistara, a joint venture with Singapore Airlines, and U Mahesh Rao, former Managing Director of General Insurance Corporatio­n. Besides, advice is also being sought from FC Kohli and S Ramadorai, doyens of the Indian IT industry, and B Muthuraman, former Vice-Chairman and Managing Director, Tata Steel, sources said.

Menon, who has handled many a crisis in Tata Chemicals and Tata Power, had recently moved to Hyderabad after a long stint with the Group. Just as he was settling in, he received a call from Ratan Tata asking him to help deal with the tussle with Mistry. “I have come to help Mr Tata in whatever way I can,” Menon told BusinessLi­ne.

Asserting that Tata would do no wrong to anyone, Rao said: “I was very upset with what is happening and feel sad watching it on TV. I picked up the phone and spoke to Krishna Kumar. He told me to come immediatel­y — and here I am to help them.” Also read p13

 ??  ?? While the likes of Prasad Menon (left) have been summoned, advice from other IT veterans like FC Kohli and S Ramadorai has also been sought
While the likes of Prasad Menon (left) have been summoned, advice from other IT veterans like FC Kohli and S Ramadorai has also been sought
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