Mistry family flags ‘underperformance’ at Tata Sons AGM

New Delhi: The bitter tussle between the Tatas and ousted chairman Cyrus Mistry came to fore at the annual general meeting of Tata Sons, as the two sides traded allegations and counter-allegations over the management of $110 billion salt-to-software group.

While no official statement or record of proceedings was released on the first-ever online AGM of Tata Sons held on Thursday, sources said representatives of the Mistry family firms, which are the single biggest shareholders, flagged concerns over the drop in performance and mounting debt of two major group companies — Tata Steel and Tata Motors.

Besides, the representatives of the Mistry family, which holds 18.5 per cent stake in Tata Sons, also questioned recent investment decisions taken at Tata Sons, which according to them have gone into funding losses.