According to the statement produced by the Tata Consultancy Services, after Cyrus Mistry’s removal, Ishaat Hussain has been elected as the interim chairman of the company. The extraordinary general meeting also has been convened by the Tata Sons.

The statement said, “The Company has received a letter dated November 09, 2016 from Tata Sons Limited nominating Mr. Ishaat Hussain as the Chairman of the Board of Directors of the Company in place of Mr. Cyrus P. Mistry with immediate effect. In view of this, Mr. Mistry has ceased to be the Chairman of the Board of Directors of the Company and Mr. Hussain is the new Chairman of the Company. The Company has been further informed that Mr. Hussain shall hold office as Chairman of the Company until a new Chairman is appointed in his place.”

“Tata Sons Limited has issued a special notice under Section 169 read with Section 115 of the Companies Act, 2013 and a requisition for convening an extraordinary general meeting of shareholders of the Company under Section 100(2) of the Companies Act, 2013 to consider a resolution for the removal of Mr. Cyrus P. Mistry as Director of the Company,” the statement further added.

It has also added that as the Tata Sond holds 73.33 percent stake in the TCS, the Section 115 of The Companies Act 2013 directs a law for resolution requiring special notice, which says, “notice of the intention to move such resolution shall be given to the company by such number of members holding not less than one per cent of total voting power.”

The decision has been taken after the shocking removal of Cyrus Mistry as the chairman of the Tata Sons on 24th October after appointed on the post on December 2012.