Larger implications of Mistry moving on from Tata Sons board: Angel Broking

Views of Mr. Vaibhav Agrawal (Head of Research and ARQ):

"In its EGM on 06th February 2017, the shareholders of Tata Sons voted to remove Cyrus Mistry from the Directorship of Tata Sons. The decision was a foregone conclusion as the Tata Trusts own 66% in Tata Sons and Tata group companies hold another 15%. Tata Sons has already appointed former TCS CEO, N Chandrasekharan, as Chairman of Tata Sons. The board has tried to rest the uncertainty over management and control of Tata group companies which brings the focus back to business issues. The legal battle between the two sides however is likely to continue hence the road ahead needs to be watched closely."

Source : Equity Bulls

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