Tata Group pushes back November 18 investor meet

The Tata Group has postponed its November 18 investor meet in the light of the recent volatility within the company after ex-Chairman Cyrus Mistry's ouster, a report in The Economic Times said. 

Mistry was unceremoniously removed as the chairman of Tata Sons at a board meeting in October, in a boardroom drama that has since gone public and has seen high-level exits from the company, and a rejig of the organisational structure. Chairman emeritus Ratan Tata took over as the interim chairman of the Group. 

The report said that while Tata wanted to go ahead with the meeting, the decision to cancel it was taken last week. The company's spokesperson told ET that the investor meet will now be held in the next quarter. 

The meeting was supposed to be attended by nearly 150 global and domestic investors, the report added. 

Tata Sons saw the exit of three top level executives -- N S Rajan, Nirmalya Kumar, Madhu Kannan -- who were all members of the Group Executive Council (GEC), which was disbanded after Mistry's ouster. 

While it was initially reported that the three executives put in their papers after Mistry left the company, Nirmalya Kumar, in a blog post that has since gone viral, unravelled the story of how he was fired "in under a minute" by the Tatas for working "too closely and extensively with Mistry".