Cyrus Mistry removed as Tata Teleservices Director

Earlier, Mistry was also removed from key positions in Tata Industries, Tata Consultancy Services and Tata Global Beverages.

Created On: Dec 16, 2016 14:30 ISTModified On: Dec 16, 2016 14:27 IST

cyrus mistry Cyrus Mistry was on 14 December 2016 removed as director from the Tata Teleservices Board. The decision was taken at an extended general meeting (EGM) of the company in Mumbai.

Tata Teleservices Maharashtra, the listed unit of Tata Teleservices, communicated this decision to the stock exchange.

CA eBook

With this removal, the Tata Teleservices has joined other Tata Group companies that removed Mistry from key positions.

Earlier, Tata Industries and Tata Consultancy Services (TCS) removed Mistry as a director. In November 2016, the Tata Global Beverages removed him as the Chairperson.

The slew of actions against Cyrus Mistry began with his removal as Tata Sons Chairman on 23 October 2016.

Though the specific reasons for Mistry’s removal are not clear, it is understood that differences between Ratan Tata and Mistry on the core philosophy of the company led to his removal.

About Tata Teleservices Ltd

• It spearheads the Tata Group’s presence in the telecommunication sector.

• It is one of India’s leading mobile telecom service providers delivering mobile connectivity and services to consumers across the country.

• It offers integrated telecom solutions to its customers across wireline and wireless networks on GSM, CDMA and 3G platforms.

• It offers the services under two brand names – Tata Docomo and Tata Photon.

• The company’s promoters are Tata Sons and NTT Docomo. They own 36.17% and 26.5% shares respectively.

• Tata Group companies that own shares in Tata Tele are Tata Communications (9.33%), Tata Power (6.97%), Tata Industries (5.46%), Tata Steel (1.37%) and Tata Capital Financial Services (1.32%).

• At present, Ratan Tata is its interim chairperson. He is also the interim chairperson of the Tata Sons Ltd.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

Comment ()

Post Comment

2 + 1 =