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Friday, December 23, 2016

Ratan Tata breaks his silence

Ratan  Tata breaks his silence

New Delhi: Noted industrialist Ratan Tata on Friday, 23rd December 2016, broke his silence on the ongoing feud with Cyrus Mistry and said there was a definite move to damage his personal reputation over the last two months.
He, however, hailed that truth will prevail in the end whatever the process may be and however painful it may be. He said the attacks on him and Tata Group were unsubstantiated and very painful, in direct references to all the allegations and charges fired at by ousted chairman of the company, Cyrus Mistry and Nusli Wadia.
Ever since Cyrus Mistry was ousted as the Chairman of Tata Sons and Ratan Tata appointed as interim boss, the battle between the two sides have seen allegations and charges.
Misty has vowed to continue his fight against Ratan Tata even moving the National Company Law Tribunal charging the interim boss of weak governance and oppression.
The ousted chairman also said there was no chances of truce with Ratan Tata nor the company. Instead, the ousted Tata Group Chairman vowed to continue his fight against Ratan Tata stating that his fight is for larger issue of governance.
"The Group has been there for 150 years. It has been based on governance, fair play," Tata said. "I think the truth will prevail, whatever the process may be, however painful it may be."
"The truth will prevail and the systems in our country will govern," he said thanking shareholders for their support.
Nusli Wadia of Wadia Group was also sacked by the firms of Tata Group from the board of directors on charges that he was supporting Mistry. In the fight against Tatas, Wadia had earlier filed a defamation case against Ratan Tata and the company, reportedly seeking Rs 3000 crore in damages.

Earlier today, Wadia filed criminal defamation case against Ratan Tata, directors of Tata sons following his unceremonious removal from the board of both Tata Steel and Tata Sons.

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