Tata Sons to strip Cyrus Mistry of voting rights

The Tata Sons board will meet on Thursday in Mumbai to consider taking away proxy powers of former chairman Cyrus Mistrylinked to voting and attending shareholder meetings of group companies.   Stock Market Astrology



People close to the discussion said this was one of the items on the agenda and that the board will also discuss developments over past few weeks, since the ouster of Mistry. People close to Tata Sons said it is a routine board meet called to discuss operational matters and that Mistry cannot in any case vote on behalf of Tata Sons as he is no longer the chairman.   Intraday Trading Tips




It is not clear whether Mistry will attend the meet. Ratan Tata is the interim chairman and the board members include Nitin Nohria, Vijay Singh, Farida Khambata, Venu Srinivasan, Ajay Piramal, N Chandrasekaran and Ralf Speth.Mistry apparently enjoys powers that allow him to vote on behalf of Tata Sons in the shareholder meets of operating companies.  Nifty Trading Tips





Tata Sons has issued notices for shareholder meets of Tata Consultancy Services, Indian Hotels, Tata Chemicals, Tata Motors and Tata Steel in the next few weeks to oust Mistry as chairman and director.In case of Tata Chemicals, Tata Steel and Tata Motors, the notices also call for removal of Nusli Wadia as an independent director.  Commodity Trading Tips

A late night PTI report said the board of TCS will meet on Thursday morning at its headquarters in downtown Mumbai to consider the way ahead on the extraordinary general meeting.

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