BSE, NSE seek clarification from Tata Group on Cyrus Mistry letter
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Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) has sought clarification from various listed companies of Tata Group about purported disclosure by the ousted chairman, Cyrus Mistry about 18-billion dollar possible write-down at these firms. The exchanges have asked Tata Motors, Tata Steel, Indian Hotels, Tata Teleservices and Tata Power, to provide full details about these issues.
The exchanges have asked the companies to provide "clarification or confirmation on the news item in detail". In case of an affirmation, the Tata Group has been advised to provide the said information along with the sequence of events and the material impact on the company. The companies were yet to respond to the exchanges.
Securities and Exchange Board of India (Sebi) is also keeping a close tab on the high profile Tata-Mistry case and will look into any possible breach of corporate governance norms and listing regulations at the listed companies of over 100 billion dollar conglomerate. (NewsonAir)
The exchanges have asked the companies to provide "clarification or confirmation on the news item in detail". In case of an affirmation, the Tata Group has been advised to provide the said information along with the sequence of events and the material impact on the company. The companies were yet to respond to the exchanges.
Securities and Exchange Board of India (Sebi) is also keeping a close tab on the high profile Tata-Mistry case and will look into any possible breach of corporate governance norms and listing regulations at the listed companies of over 100 billion dollar conglomerate. (NewsonAir)
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