Business

Over 90% of Tata Steel shareholders oust Wadia as Director

Agency | December 22, 2016 11:38 AM

Mumbai : Over 90 per cent shareholders of Tata Steel voted to remove industrialist Nusli Wadia as independent Director of the company, it announced on Thursday.

According to a Tata Steel statement, 90.80 per cent of company shareholders voted Wadia out of its board of directors in an extra-ordinary general meeting (EGM) here on Wednesday.

"Both institutional and retail (shareholders) voted in the similar pattern with significant majority well beyond the 3/4th majority mark in all categories," the statement said.

Wadia did not attend the EGM on Wednesday, which had the agenda of taking shareholders' approval for the removal of Tata Sons ousted Chairman Cyrus Mistry and Independent Director Wadia from its Board of Directors.

On Monday, Mistry had stepped down from his position as a member on the Board of Directors of Tata Steel.

Have something to say? Post your comment
Must Read
For the first time in Punjab, DC uses his power to suspend a Head Constable
For the first time in Punjab, DC uses his power to suspend a Head Constable
Former Punjab BJP Chief Kamal Sharma suffers cardiac arrest
Former Punjab BJP Chief Kamal Sharma suffers cardiac arrest
Mining Mafia: Five cases registered in Hoshiarpur for illegal mining
Mining Mafia: Five cases registered in Hoshiarpur for illegal mining
Will appointment of CPSs bring anything good for “financially crunched” Punjab? What about the much needed ‘austerity’ measures by Captain Di Sarkar?
Will appointment of CPSs bring anything good for “financially crunched” Punjab? What about the much needed ‘austerity’ measures by Captain Di Sarkar?
Good news for Congress MLAs, who are aspirant to become cabinet ministers ,Punjab Cabinet expansion soon
Good news for Congress MLAs, who are aspirant to become cabinet ministers ,Punjab Cabinet expansion soon
'Amarinder emerged as a model for a dispassionate biography'
'Amarinder emerged as a model for a dispassionate biography'
Traffic Cops’ chaos was a conspiracy hatched by an IPS Officer to destabilise me: Ludhiana Police Commissioner
Traffic Cops’ chaos was a conspiracy hatched by an IPS Officer to destabilise me: Ludhiana Police Commissioner
One BDPO and a Punchayat Secretary of Punjab suspended for alleged fruad
One BDPO and a Punchayat Secretary of Punjab suspended for alleged fruad
25 IAS and One PCS Officer transferred in Punjab
25 IAS and One PCS Officer transferred in Punjab
  Vigilance Bureau Punjab pulls up its socks to fight corruption tooth & nail
Vigilance Bureau Punjab pulls up its socks to fight corruption tooth & nail
Ashwani Sekhri returned official vehicle to STC
Ashwani Sekhri returned official vehicle to STC
All traffic cops of Ludhiana refuse to manage traffic in protest against forcible retirement of their three colleagues
All traffic cops of Ludhiana refuse to manage traffic in protest against forcible retirement of their three colleagues