Tata Steel had called an EGM to remove Cyrus Mistry and an independent director Nusli Wadia from their board. Mistry on Monday resigned from the boards of six listed Tata companies.
Singh was one of the independent directors who had opposed Mistry's removal from the board of the company during its meeting on Novembert 15th.
Mistry, who was replaced by his predecessor Ratan Tata on October 24, said his next steps will focus on the relationship between Tata Sons and Tata Trusts.
According to Gartner, enterprise security spending (hardware, software and services) in India is on pace to reach $1.12 billion in 2016, up 10.6% from $1.01 billion in 2015
The fall in hiring is complemented by a sharp drop in attrition as telcos optimally utilise existing staff for their core telecom business.
Ratan Tata said that he is keen that a process should be in place for a smooth succession at an appropriate time.
A Vodafone spokesperson confirmed the move, but declined to comment further, saying the matter was sub-judice.
Mistry said in a letter to the board last month that the business was "continuously haemorrhaging" and had even questioned the alliance in his statements to the group.
Analysts and industry experts said Airtel is “best positioned” to leverage revenue growth from its additional business, which collectively generate nearly a quarter of annual revenue, unlike Idea and Vodafone India which largely depend on their dominant mobile services business that garner over 90% and 84% of overall revenues respectively.
Mistry on Wednesday in a unanimous decision was removed as chairman and director of the telecom company.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon