Articles about Tata Chemicals

Following Wednesday's trading session, the Tata Group lost the distinction of being the most valuable conglomerate in India.

Under chairman N Chandrasekaran's directions, the board of Tata Sons has ordered its group companies to scrap all business dealings with Cyrus and Shapoor Mistry's Shapoorji Pallonji Group.

By passing a special resolution, Tata Sons Ltd may ask the Mistry family firms to exit the shareholders' group after 50 years of association.

On Monday, the shareholders of Tata Sons Ltd., controlled by Tata Trusts and Tata Companies, together voted to oust Cyrus Mistry as a director in an extraordinary general meeting (EGM).

The National Company Law Tribunal has dismissed pleas by 2 companies owned by the Mistry family which alleged violations of NCLT directives in removing Mistry from Tata Sons' board.

N.Chandrasekaran, the CEO and managing director of TCS has been appointed the new chairman of Tata Sons. He took over as TCS CEO in 2009.

Nusli Wadia was voted out of the board of Tata Chemicals with over 75% of the votes going against him; Wadia was also voted out of the board of Tata Steel with over 90% of votes going against him.

Following the ouster of independent director Nusli Wadia from the board of Tata Steel, the company's shares dropped down over 3%.

Independent director of Tata Steel on Thursday said that Nusli Wadia was removed from its board; 90.8% of the votes favoured his ouster.

In a key development, Cyrus Mistry has resigned from six Tata Group Companies.

Nusli Wadia alleged that the management of Tata Chemicals coerced directors ahead of the EGM to side with Tata Sons instead of Cyrus Mistry.

Following the ouster of Tata Sons Chairman Cyrus Mistry, an old confidante, Nusli Wadia, targeted Ratan Tata.

After being ousted from Tata Sons, Cyrus Mistry asked the government to mediate in the affairs and business decisions of the Indian conglomerate.

Sources said that Tata Sons is considering bringing back veterans to head key group companies in light of the Tata-Mistry split.

Nusli Wadia and Cyrus Mistry will contest the proposal to remove them from Tata Motors; Tata Sons called for an EGM of Tata Motors to take stock of the Tata-Mistry fall-out.

Sources have revealed that Cyrus Mistry and Nusli Wadia are likely to address the Tata Steel EGM; sources said that both Wadia and Mistry intend to make a written and oral presentation to shareholders.

After Tata Power and Tata Chemicals, Tata Steel's board expelled Cyrus Mistry as their Chairman.

Sources revealed that former Unilever COO Harish Manwani is being considered as a candidate to possibly lead the Tata Group as new Chairman.

Nusli Wadia has sent another defamation notice to Tata Sons after he sent the first one on Monday over an EGM that sought to remove him from Tata Steel.

Nusli Wadia, an independent director and an old Tata associate wrote a strongly worded letter warning the board of directors of Tata Sons against his expulsion.

Tata Consultancy Services has become the first group company to call a shareholders meet to decide upon Cyrus Mistry's removal; the meeting is scheduled for 13 December.

Tata Global Beverages informed stock exchanges their board decided to replace Cyrus Mistry as Chairman by a majority vote.

Cyrus Mistry lambasted Tata Sons for questioning the loyalty of the independent directors of Indian Hotels Limited and Tata Chemicals; Mistry contended that six out of the nine directors were appointed under Ratan Tata's leadership and two were trustees of the Ratan Tata Trust.

Two unions of Tata Motors, representing over 16,000 workers, came out in support of Ratan Tata ahead of a board meeting of the company.

At the Tata Steel board meeting, independent directors remained split on the question of supporting Chairman Cyrus Mistry.

After removing Cyrus Mistry from the board of Tata Consultancy Services, the Tata Sons group is making attempts to remove Mistry from the boards of all group companies.

Tata Sons has directed their group company Tata Consultancy Services to appoint Ishaat Hussain as their new interim chairman in place of Cyrus Mistry.

Finance Minister Arun Jaitley has summoned the independent directors of Tata Group Companies to take stock of the fall-out of the Tata-Mistry split.

6 independent directors of Indian Hotels Company (IHCL) publicly showed faith in Cyrus Mistry's management ahead of the scheduled board meeting.

Sources stated that the Mistry family does not wish to sell the 18.5% stake it has in Tata Sons.

The Tata empire seemed to be in jeopardy as Cyrus Mistry remained the chairman of 2 group units; Tata Sons doesn't hold a majority in Tata Power and Tata Motors.

Reports indicate that Cyrus Mistry may be covered by a Director's insurance policy purchased by Tata sons, to protect top level management from legal action initiated by shareholders, employees or authorities.

Tata Public Affairs Head Madhu Kannan and Group Strategy Executive Nirmalya Kumar resigned in solidarity with Cyrus Mistry.

Amid the ongoing controversy surrounding Cyrus Mistry's hurried exit from Tata, the company lost over Rs.44,000 crore worth of market capitalization in just 3 days.

Following his dismissal, Tata Sons Ex-Chairman Cyrus Mistry has leveled several allegations against Ratan Tata and Tata Sons.

Tata Chemicals urea business has been sold to Yara India for Rs.2670 crores on a 'slump sale' basis.