'Lady Tata Trust couldn't cast EGM vote due to oversight'

MUMBAI: Tata Trusts today said Lady Tata Memorial Trust, a part of the promoter group, could not vote on a resolution on removing Nusli Wadia from board of Tata Motors due to an "administrative oversight" even though it was for the proposal.

"The Trustees of Lady Tata Memorial Trust had unanimously decided to vote in favour of the resolutions tabled at the extraordinary general meeting (of shareholders) of Tata Motors Ltd yesterday. However, on account of an administrative oversight, the voting process could not be completed," a Tata Trusts spokesperson said.

The Lady Tata Memorial Trust holds 1,440 shares (less than 0.01 per cent of the total holding) in Tata Motors.

"The Lady Tata Memorial Trust reiterates its support for the resolutions placed and passed at the EGM of Tata Motors yesterday," he added.

Of the 95.27 crore shares constituting promoter group in Tata Motors, 99.79 per cent voted for the resolution brought by Tata Sons seeking removal of Wadia, who had openly sided with ousted chairman Cyrus P Mistry.

Of the votes polled by the promoter grouping, 95.03 per cent voted in favour of the resolution while 3.62 lakh (0.04 per cent) voted against, according to regulatory filing by the company.

The resolution was carried by 71.20 per cent of the votes polled voting for removal of Wadia.