TCS shareholders voted on Tuesday for the resolution to remove Cyrus Mistry from the board, but Mistry threw in the towel just before the meeting, saying his expulsion was a "foregone" conclusion since the Tatas hold 73% stake in the software giant.

His statement came right before TCS shareholders met at Yashwantrao Chavan Centre in south Mumbai to pass a resolution to remove him as a director in a company which is the biggest contributor to the Tata Group's profits.

Life Insurance Corporation which is the largest institutional investor in Tata companies, abstained from voting at the extraordinary general meeting.

The EGM proceedings were started at 3.30pm was chaired by independent director Aman Mehta. Out of the 39 shareholders who sought to be heard at the meeting, 35 spoke in favour of Tata Sons and supported its resolution, four backed Mistry, questioning the basis on which the company had moved the resolution in the first place.

The entire board of directors, except Clayton Christensen, was in attendance listening to loyalists shower praise on Ratan Tata. One of them went to the extent of suggesting "he should continue" and "Mistry should retire". 

e-max.it: your social media marketing partner

Jagan demands market price for lands acquired for capital construction

YSR Congress Party president and Opposition Leader YS Jagan Mohan Reddy on Thursday demand...

Posters in Varanasi Show Rahul as Krishna, Akhilesh as Arjuna

Posters in Varanasi Show Rahul as Krishna, Akhilesh as Arjuna

Brand new posters surfaced in Varanasi. Photos showing both Rahul Gandhi and Akhilesh yada...

Hirakhand Train Accident In Vijayanagaram, over 40 killed and counting

Hirakhand Train Accident In Vijayanagaram, over 40 killed and counting

A horrifying train accident happened in Vijayanagaram district near Kooneru railway statio...

Microsoft offers tech support to AP as Chandrababu meets Nadella

Microsoft offers tech support to AP as Chandrababu meets Nadella

Microsoft has offered to collaborate with Andhra Pradesh in the areas of e-governance and...

TDP to launch protests in Telangana against TRS

TDP to launch protests in Telangana against TRS

Taking on the ruling TRS government, the Telugu Desam party on Saturday decided to hold pr...

Telangana Govt To Bring Bill For 12 Percent Quota For Muslims

Hyderabad: Telangana government will soon pass a legislation to provide 12 percent reserva...

Panneerselvam stopped from inaugurating jallikattu

Much to the anguish of the Tamils, Jallikattu which was to be held in Madurai district has...

Jallikattu to start from today

Jallikattu to start from today

Tamil Nadu governor Ch Vidyasagar Rao promulgated an ordinance on Saturday for conducting...

India fears economy collapse as Donald Trump says 'America First'

India fears economy collapse as Donald Trump says 'America First'

Hours after US President Donald Trump spelt out his 'America First' strategy, he also belt...

NASA to Reserve Seats on Russian Spacecraft for U.S. Astronauts

NASA to Reserve Seats on Russian Spacecraft for U.S. Astronauts

NASA has formally acknowledged what many aerospace industry officials have speculated for...

Woman, 2 kids commit suicide on rail tracks

HYDERABAD: A 32 year old woman along with her two children, aged seven and six, committed...

Businessman found dead in Malkajgiri

HYDERABAD: A man was found murdered near Srinagar Colony gate in Malkajgiri on Thursday mo...

Finally, Raviteja Next Film Announced

Finally, Raviteja Next Film Announced

Mass Maharaja Raviteja’s long await comes to a break. His next film in debutant Vikram Sir...

Charan Movie Like James Bond Film ?

If the reports from film circles are to be real, Mega Power Star Ram Charan will hit the s...

Fracture ends Alex Hales' tour of India

Fracture ends Alex Hales' tour of India

Alex Hales has been ruled out of the rest of the tour of India due to a fracture on his ri...

Saina Nehwal Enters Malaysia Masters final

Saina Nehwal sailed into the final of the Malaysia Masters Grand Prix Gold badminton tourn...

Natarajan Chandrasekaran named new chairman of Tata Sons

Natarajan Chandrasekaran named new chairman of Tata Sons

Nataraja Chandrasekaran was named the new Chairman of Tata Sons on Thursday, ending three...

Alibaba's Jack Ma tries to calm Donald Trump

Alibaba's Jack Ma tries to calm Donald Trump

Alibaba chairman Jack Ma has made a stupendous promise of creating one million American jo...