1. Ratan Tata, Cyrus Mistry meet PM Narendra Modi separately after boardroom upheaval

Ratan Tata, Cyrus Mistry meet PM Narendra Modi separately after boardroom upheaval

Tata Sons interim chairman Ratan Rata and his predecessor Cyrus Mistry, who was removed from the post, have met Prime Minister Narendra Modi to brief him on the recent developments in the conglomerate.

By: | New Delhi | Updated: October 30, 2016 4:11 PM
The recent removal of Mistry had stirred the corporate and political circles. (File Photo) The recent removal of Mistry had stirred the corporate and political circles. (File Photo)

Tata Sons interim chairman Ratan Rata and his predecessor Cyrus Mistry, who was removed from the post, have met Prime Minister Narendra Modi to brief him on the recent developments in the conglomerate. While Mistry met Prime Minister Modi on Thursday and explained his view of the events, Ratan Tata met him the next day and briefed him about the situation for about 20 minutes, a report in ‘The Times of India’ has said.

The recent removal of Mistry had stirred the corporate and political circles. He had also levelled allegations of poor decision-making and costing Tata firms billions of dollars. He also accused the Tata Group of keeping him as a ‘lame duck’ chairman.He had also said in a mail to group directors that the production of the Tata Nano is a loss making entity which is only being continued due to emotional reasons.

Ratan Tata had written a letter to the prime minister after Mistry’s removal to inform him about the decision. The conglomerate has named a five-member search panel , which also included Tata to choose Mistry’s successor in four months. Tata has come out of retirement temporarily and has been named interim chairman until a successor to Mistry is found.

The Centre has been observing the situation in one of the country’s biggest companies but has till now kept distance from the sudden changes in the top management of the firm.

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