Tata Sons chairman N Chandrasekaran skips TCS key meeting amid Air India crisis due to...

Tata Sons Chairman N Chandrasekaran on Thursday skipped the Annual General Meeting (AGM) of Tata Consultancy Services (TCS), marking his absence from a shareholder gathering of the group for the second consecutive day. TCS' secretary Yashaswin Sheth informed shareholders that Chandrasekaran will not be able to attend the AGM due to 'some exigencies'. TCS is India's largest IT service with a market cap of Rs 12.39 lakh crore, as of June 19.

On June 18, Chandrasekaran could not attend the TCS AGM, reportedly because of his focus on the tragic crash of group company Air India's plane from Ahmedabad to London Gatwick last week, which has resulted in the loss of at least 270 people, including 241 passengers and crew of the aircraft. 

It can be noted that Chandrasekaran was elevated to Tata Sons as the chairman in 2017, after being the CEO of TCS for eight years. Sheth said the company directors have elected independent director Keki Mistry to preside over as the chairman for the AGM.

"This is a very difficult time for us at the Tata Group. We are all deeply saddened. This is an unimaginable tragedy that has resulted in so many losses of lives. Words can be of no consolation right now," Mistry, a finance industry veteran, said.

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"Our thoughts are with the families and loved ones of the people who have lost their lives. Tata Group stands in solidarity with the affected people in these challenging times," he added. The TCS board paid a tribute to all the victims of the crash by observing a minute's silence before beginning the proceedings of the meeting.

(Except for the headline, this story has not been edited by DNA staff and is published from PTI)