Tata Motors Shareholders vote out Nusli Wadia as director
Tata Motors voted for the removal of Independent Director Nusli Wadia from the company who was alleged to have sided with the estranged chairman Cyrus Mistry.
New Delhi: Tata Motors voted for the removal of Independent Director Nusli Wadia from the company who was alleged to have sided with the estranged chairman Cyrus Mistry. Over 71 percent shareholders of as per the results of voting announced on Friday morning.
Wadia was also removed from Tata Steel board with as many as 90.8 percent of the shareholders present and voting at the company's extraordinary general meeting yesterday voted in favour of the resolution moved by Tata Sons seeking his removal.
Last week, Wadia had filed a Rs 3,000-crore defamation suit against Ratan Tata, Tata Sons and some of its directors. He filed the case in the Bombay High Court following the move by Tata Sons to remove him from the board of the three companies including Tata Steel, Tata Motors and Tata Chemicals.
Wadia had denied allegations by Tata Sons that he was acting in concert with ousted chairman Cyrus Mistry. Besides, he has refuted claims that he was "galvanising" independent directors and mobilising opinion, forcing disruptions and issuing statements" which were contrary to the interest of the companies as "totally baseless and completely unsubstantiated".
With PTI Inputs