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Did Tata Group made a Self Goal?
By: Tupaki Desk | 27 Oct 2016 2:39 PM GMT
Sacking of Cyrus Mistry as the chairman of Tata Group and the letter from the former boss complaining all isn't well within the organization gave a feeling that something went wrong. Sebi & Stock Exchanges sought clarification from from the Tata Group over Cyrus Mistry's letter.
BSE & NSE asked Tata Group comprising Tata Motors, Tata Steel, Tata Teleservices, Tata Power and Indian Hotels to give a clarity on Cyrus Mistry's disclosure of $18 billion writedown. Exchanges also ordered Tata Group to provide any information it hasn't shared with it so far. Meanwhile, BSE & NSE has been keeping an eye on more than 20 listed companies of Tata Group.
Securities and Exchange Board of India (Sebi) is closely monitoring the Tata Group-Cyrus Mistry's controversy to cross check if there is a violation of corporate governance norms and listing regulations.
In the confidential email to Tata Sons board members, Cyrus Mistry mentioned about the losses of Rs 1.18 lakh crore the organization gonna incur due to its five unprofitable businesses. If what was quoted by Mistry is true, Then Tata Group has made a self goal by ousting him as Chairman!
BSE & NSE asked Tata Group comprising Tata Motors, Tata Steel, Tata Teleservices, Tata Power and Indian Hotels to give a clarity on Cyrus Mistry's disclosure of $18 billion writedown. Exchanges also ordered Tata Group to provide any information it hasn't shared with it so far. Meanwhile, BSE & NSE has been keeping an eye on more than 20 listed companies of Tata Group.
Securities and Exchange Board of India (Sebi) is closely monitoring the Tata Group-Cyrus Mistry's controversy to cross check if there is a violation of corporate governance norms and listing regulations.
In the confidential email to Tata Sons board members, Cyrus Mistry mentioned about the losses of Rs 1.18 lakh crore the organization gonna incur due to its five unprofitable businesses. If what was quoted by Mistry is true, Then Tata Group has made a self goal by ousting him as Chairman!
