The fallout of the feud between Ratan Tata and Cyrus Mistry is spreading.
Tata Chemicals Ltd. non-executive, non-independent director Bhaskar Bhat resigned from the board with effect from November 10, the company said in its filing to the exchanges. Bhat is also the managing director of another group company, Titan Company Ltd.
The Tata Chemicals board ignored several important issues of ‘discomfort' raised by him, Bhat said in his resignation letter addressed to Mistry, who is the chairman of the board.
The independent directors of Tata Chemicals had affirmed their confidence in Mistry's leadership, in the November 10 board meeting.
Also Read: Tata Steps Up Attack on Mistry as India's Biggest Feud Escalates
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