November 22, 2024 22:05 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma | Baba Siddique murder case: Arrested Akashdeep Gill used a labourer's hotspot to evade tracking, say police | Donald Trump picks 'smart and tough' Pam Bondi as new US Attorney General after Matt Gaetz withdraws | Canadian government denies media report that claims PM Modi knew of Khalistani leader Nijjar's killing
Tata Sons slams Cyrus Mistry for e-mail leak to press

Tata Sons slams Cyrus Mistry for e-mail leak to press

| | 27 Oct 2016, 11:41 pm
Mumbai, Oct 27 (IBNS): In a strong worded statement, Tata Sons has refuted the allegations levelled by Cyrus Mistry, who was removed as the chairman of the group on Monday and also slammed him for leaking to press the "confidential" e-mail sent to the Board.

In its statement, Tata Sons claimed that : "As the Executive Chairman, he (Cyrus Mistry) was fully empowered to lead the group and its companies. It is unfortunate that it is only on his removal that allegations and misrepresentation of facts are being made about business decisions that the former Chairman was party to for over a decade in different capacities. The record, as and when made public, will prove things to the contrary."

Mistry, who was sacked on Monday, wrote a five-page note to board members, which was allegedly leaked to the press.

In the note, he has described his removal as "shocking" and illegal.

He also alleged that his authority was undermined by the constant interference of Ratan Tata.

Responding to the move, Tata stated: "It is a matter of deep regret that a communication marked confidential to Tata Sons board members has been made public in an unseemly and undignified manner."

The company also said that it will respond to all charges " in an appropriate manner."

"The correspondence makes unsubstantiated claims and malicious allegations, casting aspersions on the Tata group, the Tata Sons board and several Tata companies and some respected individuals. These will be responded to in an appropriate manner," the statement said.

Mistry, the former Chairman of Tata Sons, has been on the Board of the Company since 2006.

He was appointed Deputy Chairman in November, 2011, and formally appointed Chairman of Tata Sons on December 28, 2012.

Tata Sons on Monday announced that its board has replaced Cyrus P. Mistry as Chairman of Tata Sons.

The decision was taken at a Board meeting held here.

The Board has named Ratan N. Tata as Interim Chairman of Tata Sons.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.