In an important development, Cyrus Mistry on Monday announced his resignation from all listed Tata Group companies.
In a statement, Mistry has said that he will take legal route against the Tatas.
He also stated that his efforts were aimed at reforming the system, which may well be the reason for my removal.
‘Unknown to the world, I had confronted serious governance problems and ethical issues for a considerable period’, said Cyrus Mistry.
Earlier on Sunday, the ongoing boardroom war between Tata Sons and its ousted Chairman Cyrus Mistry heads to a major turning point with four listed firms of the group set to vote on resolutions to remove him as director from their boards.