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Tata Steel shareholders vote to oust Nusli Wadia as director

Tata Steel Ltd. director Nusli Wadia was ousted from the company's board after a majority of shareholders voted for his removal, Live Mint reported Dec. 22.

From the total votes cast, about 82.5% of institutional investors and 84.5% of retail investors voted for his removal in an extraordinary general meeting.

Wadia will now face a shareholder vote in two other companies of the Tata group, Tata Motors Ltd. and Tata Chemicals Ltd., the publication noted.

Tata Sons, also part of the group, previously accused Wadia of acting in concert with ousted chairman Cyrus Mistry while mobilizing opinions and issuing statements contrary to the interest of the companies, according to The Times of India.

Wadia has denied the claims and last week filed a defamation suit against Ratan Tata, Tata Sons and some of its directors.

Recently, Tata Steel offered to invest as much as £1 billion in its U.K. business over the next 10 years.