A day after Cyrus Mistry announced his decision to exit all Tata Group companies, Analjit Singh, Non-Executive Independent Director at Tata Global Beverages Ltd, resigned from the board with immediate effect. Sources said Singh, promoter of the Max Group, did not agree with the manner in which Mistry was forced out of Tata Sons.
Singh had spoken out against removing Mistry at one of the Tata Global board meetings, said a source. But now that Mistry himself has quit, Singh may have found it best to leave as well.
This could trigger more exits in the coming days.