Nusli Wadia voted out of Tata Chemicals, 76% of votes polled against him at EGM
Nusli Wadia was voted out as an independent director of Tata Chemicals at an extraordinary general meeting (EGM) held on Friday.
New Delhi: Nusli Wadia was voted out as an independent director of Tata Chemicals at an extraordinary general meeting (EGM) held on Friday.
Nusli Wadia was voted out as independent director of Tata Chemicals with 75.67% voting against him out of the total votes polled.
According to a regulatory filing by Tata Chemicals, out of the total of 25.48 crore shares of the company, 14.91 crore shares were voted. Out of this, 11.28 crore were in favour of the resolution to remove him.
The company said 3.62 crore votes, accounting for 24.33 per cent of votes polled, were against his removal.
Tata Chemicals also said the shareholders have approved a resolution to appoint Bhaskar Bhat as a director of the company with 79.26 per cent of votes going in his favour.
It further said the shareholders have also approved the appointment of S Padmanabhan as director of the company with 89.29 per cent voting in favour of a resolution for his appointment.
More than 51 percent of the non-promoters voted for him if votes of promoters are excluded.
On Wednesday, Wadia was removed as independent director from the board of Tata Steel.
Following unceremonious removal from the board of both Tata Steel and Tata Sons, independent director Nusli Wadia had filed criminal defamation case against Ratan Tata, directors of Tata sons.
Shareholders of Tata Motors have voted to remove independent director Nusli Wadia from the board of directors.
With Agency Inputs