Advertisement
Monday, Oct 18, 2021
Outlook.com

No Answers In Bombay House

There’s little clarity on the real reasons behind Mistry’s ouster

No Answers In Bombay House
Photograph by PTI
No Answers In Bombay House
outlookindia.com
2016-11-08T13:31:41+05:30

We have seen parts of this movie before. The independence of the board of directors, rather the lack of it, has always been questionable not only in India but also elsewhere in the world. With a few exceptions, the board of directors usually comprises the promoter's buddies, who play along to get decisions through regardless of how they may play out eventually for minority shareholders. In the Tata episode, the board of directors voted out chairman Cyrus Mistry quietly, and brought in the principal shareholder as an int­erim replacement. The official reason for dismissing Mistry is non-performance, and this makes the case really curious.

Going by Cyrus Mistry’s reaction, the board does not seem to have followed the process of natural justice, which is to ensure that you give the person a chance to explain/defend himself. A key reason cited for things to come to pass in the manner it has, is the breakdown of communication between Cyrus Mistry and Ratan Tata. If he indeed had a free rein since he took charge, would it have been fair to expect Cyrus Mistry to...

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Kashmir Civilian Killings: Militants Gun Down Two More Migrant Labourers In Kulgam

Kashmir Civilian Killings: Militants Gun Down Two More Migrant Labourers In Kulgam

A day after two non-local cart vendors were shot dead in Kashmir, militants struck again today killing two more non-local labourers in the southern district of Kulgam.

Kerala Rains: 23 Killed In Flash Floods And Landslides, PM Modi Speaks To CM Vijayan

Kerala Rains: 23 Killed In Flash Floods And Landslides, PM Modi Speaks To CM Vijayan

The toll from disastrous flooding caused by heavy rains and landslides in hilly areas of two central Kerala districts rose to 23 as rescue workers recovered more bodies from the rubbles on Sunday.

Yuvraj Arrested In Chahal 'Casteist Remarks' Case, Released On Bail

Yuvraj Arrested In Chahal 'Casteist Remarks' Case, Released On Bail

'Yuvraj Singh came to Hansi on Saturday and we made a formal arrest. He was released on bail bond after a few hours,' DSP (Hansi) Vinod Shankar said.

Komic, World's Highest Motorable Village In Himachal, Gets Season’s First Snowfall

Komic, World's Highest Motorable Village In Himachal, Gets Season’s First Snowfall

Tourists and travellers have been asked not to venture towards the Kunzum Pass in Himachal Pradesh with snowfall being reported in several parts of the state including Rohtang Pass.

Advertisement