Nusli Wadia removed from Tata Steel board

Tata Steel on Thursday said its independent director Nusli Wadia has been removed from the company’s board, with 90.8 per cent of shareholders present at Wednesday’s EGM voting in favour of his ouster.

In a regulatory filing, the company said out of its total shares of 97.12 crore, 62.54 crore votes were polled, which translate into 64.4 per cent.

“Total vote in favour of the resolution was 56.79 crore, i.e. 90.80 per cent, and total vote against the motion was 5.75 crore, i.e. 9.20 per cent,” it said.

“The motion (was) carried in favour of the resolution with overwhelming majority way beyond a special resolution hurdle of 75 per cent, even though this motion was an ordinary resolution requiring simple majority,” the company added.