Ratan Tata was chairman emeritus of Tata Sons before he took over as interim chairman ousting Mistry. When Mistry was appointed chairman of Tata group firms in December 2012, some group companies including Tata Motors Ltd and Tata Steel Ltd also conferred the title of chairman emeritus on Ratan Tata. He is also a trustee on the Tata Trusts, which own two-thirds of Tata Sons, the holding company of group firms. Emails sent to Sebi, Tata Motors, Tata Chemicals and Tata Power on Saturday were not answered. The board note also took note of Mistry’s allegations related to commercial decisions taken by boards.

Source: Mint January 22, 2017 23:16 UTC