Nusli Wadia ousted from Tata Chemicals in EGM
Wadia filed a Rs 3,000-crore defamation suit against Ratan Tata, Tata Sons and some of its directors.
In the ongoing dirty spat of TATA with its ex-chairman Cyrus Mistry and ex-independent director Nusli Wadia has been getting worse each passing day. In the latest news, Nusli Wadia has now being voted out from Tata chemicals board too, after his removal from Tata Steel and Tata Motors.
Earlier on Wednesday, Wadia was voted out from Tata Steel in a shareholders’ meeting held on Wednesday during which 90.8 per cent of those present voted against him.
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.
Furthermore, it said that 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.
It is to be noted that Wadia 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.
Tata Industries is witnessing a major reshuffle with the ouster of Cyrus Mistry and Nusli Wadia.