After nearly two-month-long battle with Ratan Tata over his unceremonious dismissal from Tata Sons on 24 October, Cyrus Mistry today said that he is resigning from six listed Tata companies with immediate effect. He was director on the board of Tata Motors, Tata Chemicals, Tata Steel, Tata Power and Indian Hotels.
As the tug of war escalated, at TCS shareholders' extra general body meeting (EGM) removed Mistry from the company's board. The other companies were to hold shareholders meeting this week. Wide expectation was that the Tatas will succeed in removing -Mistry from all the boards.
"Events of the past 8 weeks have been about saving legacy," says Mistry in the statement promising to continue the fight.
— CNBC-TV18 News (@CNBCTV18News) December 19, 2016
Here is a full statement of Cyrus Mistry
Updated Date: Dec 19, 2016 20:32:49 IST