Mistry should remain on board of Tata firms, says InGovern

MUMBAI: Advisory body InGovern says Tata Sons hasn't provided any compelling reasons for the removal of Cyrus Mistry as a Director from the Boards of the operating companies.

The shareholders advisory body added that the group has not articulated any new plans or visions for the operating companies than what the Boards under Cyrus Mistry had adopted.

"Shareholders need to question inherent assumptions made regarding the value of the Group structure and the value of “Tata” brand and demand greater disclosures on information flow between Tata Sons and operating companies,", said Shriram Subramanian. Founder and Managing Director of the InGovern.

The statement added that Mistry as Director on the Boards of the listed companies should be a balance on the Boards and a representation of the minority shareholder.