Now, Nusli Wadia removed from Tata Steel board

New Delhi: After the Cyrus Mistry, Nusli Wadia removed from Tata Steel board. On Thursday, Tata Steel said that Nusli Wadia has been removed from the company's board.

Nusli wadia was the independent director of Tata Steel board. On Wednesday, 90.8% vote of shareholder goes to in favor of Nusli ouster.

Company said that "total vote in favor of the resolution was 56.79 crore, i.e. 90.80 per cent, and total vote against the motion was 5.75 crore, i.e. 9.20 per cent."

Last week, Wadia filed a Rs 3,000-crore defamation suit against Ratan Tata, Tata Sons and some of its directors. He flied the case in the Bombay high court following the move by Tata Sons to remove him from the board of the three companies.

Wadia had denied allegations by Tata Sons that he was acting in concert with ousted chairman Cyrus Mistry. Besides, he has refuted claims that he was "galvanising" independent directors and mobilizing opinion, forcing disruptions and issuing statements" which were contrary to the interest of the companies as "totally baseless and completely unsubstantiated".

Related News