"The views of independent directors seems to be in divergence with respect to the actions of IHCL's promoter shareholder, Tata Sons," said Shriram Subramanian, founder & MD of In Govern Research Services.
Since last week which saw dismissal of Cyrus Mistry from TATA Group there is been a lot of support and backing for him from all directors. Even if ‘TATA & Sons’ have come up with the decision of sacking ‘Mistry’, the final decision has to be unanimously taken by IHCL's shareholders to vote for his dismissal.
Although all the 6 independent Directors have reinstalled their faith in his work as two of them said, “Honestly, he's done a great job as chairman of IHCL”. According to law all dependant group of directors, they are supposed to review the performances of non-independent directors every single year following which, this decision was taken by TATA Group.
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