Mistry faces posers

Cyrus Mistry on Wednesday faced some tough questions in his maiden Tata Steel annual general meeting as company chairman. The company's dividend a share has fallen by half in last six years to Rs 8, shareholders said, from Rs 16 in 2007-08. A shareholder, Adil, insisted for vote against the proposed dividend and demanded discussions. He, later, withdrew his demand after being persuaded by the management and other shareholders. "I want a poll and discussion. You are giving a lollipop (to the investors)... Your salaries keep going up," he said to the management. In his reply, Mistry said continuous slump in global demand had pulled down net profit.