By
The board has also decided to convene an extraordinary general meeting (EGM) to remove Mistry and independent director Nusli Wadia as directors on the board of the company.
O P Bhatt, independent director on the board of Tata Steel and former head of State Bank of India, has been elected as chairman of the board until the outcome of the EGM, the statement said.
The EGM will be held on Dec. 21.