12 November 2016 Current Affairs: Bhaskar Bhat resigned as director of Tata Chemicals saying the company was facing a threat due to loss of confidence in Chairman Cyrus Mistry by the company’s promoter, Tata Sons Limited.
Bhaskar Bhat has been the managing director of Titan Industries since 2002. Bhat said he was not a Tata Sons nominee on Tata Chemicals board and had joined the board after an invite from the Tata Chemicals board.
The independent directors considered the statement made by the company’s board of directors, which recommended and sought support for Mistry’s reappointment at the company’s annual general meeting (AGM) in August 2015.
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