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Tata Sons that owns 74 percent stake in Tata Consultancy Services (TCS), announced the nomination of Ishaat Hussain as chairman of TCS in place of Cyrus Mistry with immediate effect.
TCS has said in a statement that it has been further informed by Tata Sons that Hussain would hold office as chairman until a new chairman is appointed in his place.
It has further stated that Tata Sons Ltd has also issued a special notice under Section 169 read with Section 115 of the Companies Act, 2013, for convening an extraordinary general meeting of shareholders to consider a resolution for the removal of Cyrus Mistry as director of the company.
