CURRENT AFFAIRS

Detailed explanation-1: -MUMBAI: Tata Industries removed Cyrus Mistry as a director after a shareholder vote on Monday, a day before Tata Consultancy Services holds a crucial extraordinary general meeting to do the same.

Detailed explanation-2: -Cyrus Mistry’s ouster followed after certain disagreements between him and the Tata Sons Board relating to the functioning of the company and decisions taken by Cyrus Mistry. Cyrus Mistry and Tata Sons were embroiled in one of the most high-profile boardroom battles nearly five years after his dismissal.

Detailed explanation-3: -“Tata Industries, at its extraordinary general meeting on December 12, 2016, removed Cyrus P Mistry as a director of the company. Hence, he also has ceased to be the chairman of the company, ” it said.

Detailed explanation-4: -Mistry, who was the sixth chairman of Tata Sons, succeeding Ratan Tata, was unceremoniously removed from the position in October 2016, over disagreements over running the conglomerate.

Detailed explanation-5: -MUMBAI: Noel Tata, the half-brother of Tata Group patriarch Ratan Tata, has been named vice-chairman of Tata Steel, his first such role in a leading entity of the 154-year-old, $109-billion conglomerate.