AND Exclusive: Cyrus Mistry will soon announce his company

MUMBAI: Cyrus Mistry, 50, former president of the Tata group, is supposed to formally start a business in the field of private venture capital or family investments, is learned reliably.

The announcement is scheduled today, on the occasion of the second anniversary of his ousting the Tata group. Senior development officials said the company would likely be in a personal capacity even though details are not available.

Over the past two years, Mistry has met with many venture capitalists and entrepreneurs around the world. At the same time, he fought against the Tatas for better governance and greater ethics in the courts.

Mistry, who had succeeded the presidency of Tata Sons in 2012, had been ousted by Ratan Tata on October 24, 2016 during a coup in the conference room.

Cyrus and his brother Shapoor each own 50% of the family group Shapoorji Pallonji (SP). Cyrus was General Manager of the SP Group prior to his appointment as Vice President of the Board of Directors of Tata Sons in 2012. Following his exit from the Tata Group, Mistry chose not to be directly involved in SP Group operations managed. by Shapoor.

Mistry's ousting on Oct. 24 was a shock to India Inc., especially the Tata group. Known for his long culture of tolerance and consensus.