Basant Kumar Jhawar, former chairman and a founding promoter of Usha Martin, who was ousted from the board at the EGM last week, Monday vouched to fight back for his rights.
Jhawar, however, did not wish to reveal his cards now.
He asserted that he will do everything to prevent the alleged diversion of funds by the camp of his estranged brother Brij Kishore Jhawar in the company.
The two brothers have been tied in a number of legal disputes before various fora over control of Usha Martin, the city based steel and wire rope company.
At the EGM, Brij Kishore and his camp did not support Basant's continuation. Basant received only 32.7 per cent of the votes while 67.3 per cent of the votes went against him.
Usha Martin in a statement said, "The decisions of the board and shareholders for sale of steel business to Tatas are on track. The company is unable to comment on any aspects especially related to matters which are sub-judice."