The Mistry firms’ latest affidavit alleged that the independent directors were appointed at the personal request of Ratan Tata and not scrutinized by the nomination and remuneration committee. Photo: ReutersMistry family firms have questioned the independence of independent directors at Tata Sons Ltd who voted to remove Cyrus Mistry as chairman in only the second board meeting they attended. Chandra, country head of private equity firm Bain Capital, Piramal, chairman of Piramal Enterprises Ltd, and Venu Srinivasan, chairman of TVS Motor Co., joined the Tata Sons board on 25 August. A person familiar with the matter said that even before Chandra’s induction into the board, as a trustee since 2015, he had been closely following developments in Tata Sons, had been through presentations, and actively participated in the 15 September board meeting of Tata Sons. He started his term as the dean in July 2010 and joined the Tata Sons board in September 2013 after Ratan Tata’s retirement.

Source: Mint January 26, 2017 18:28 UTC