On Tuesday evening, Extraordinary General Meeting held in Mumbai. Tata Consultancy Services’ director nominations were held in which Cyrus Mistry has the highest votes up to 93.1%. Life Insurance Corporation showed regret in voting. More than 70% of the company holds by the Tata sons.
Aman Mehta Independent director (ID) was in planning to remove Mistry, but he failed in his trial. Mistry now have majority chances to be director of the TCS, largest software exporter. Mehta was trying to supporting Tata son, Ishaat Hussain , as a Director.
“This fight is the matter of principle, rather than focusing the forgone outcome”, letter read out by shareholders. Many asked reason for removing Mistry,Tata said that it’s about trust and confidence.
Previously there were issues on who will be the CEO of Tata Sons issue was going on.
TCS in worst revenue rate this quarter !