Cyrus Mistry will not attend TCS and Tata Sons Board meet on Thursday

MUMBAI: Cyrus Mistry former chairman of Tata Sons will not attend either TCS or Tata Sons Board meeting on Thursday , it is reliably learnt.

Tata Sons board will meet on Thursday in Mumbai to discuss stripping former chairman Cyrus Mistry’s of proxy powers that could allow him to attend shareholders meets of the main Tata operating companies.

People close to the discussion said that this was one of the items on the agenda and that the board will also discuss developments over the past few weeks since the ouster of Mr Mistry on October 24.

The group’s interim chairman is Ratan Tata and the board members include Nitin Nohria, Vijay Singh, Farida Khambhata, Venu Srinivasan, Ajay Piramal, Amit Chandra, Natarajan Chandrasekaran, Ralf Speth.

Mr Mistry belongs to the Pallonji Mistry family Pallonji family that holds 18.4% stake in Tata Sons. Two-thirds of the group is owned by Tata Trusts, headed by Ratan Tata.

The Tata Group has been engulfed in a power war since the ouster of Mistry as group chairman on October 24. Matters have become complicated with independent directors of the boards of some companies have backed Mr Mistry forcing Tata Sons to call a shareholders for removal of Mr Mistry as chairman and director of key companies.

Independent directors of Tata Motors, Indian Hotels and Tata Chemicals have backed Mr Mistry, his strategy and that of the management while Tata Steel independent directors could not agree on a statement of support.