Tata Nano project has consistently lost money and should be discontinued, says Cyrus Mistry

Mistry's open letter to Tata Sons reveals much more

Overdrive October 27, 2016 15:45:55 IST
Tata Nano project has consistently lost money and should be discontinued, says Cyrus Mistry

It is difficult to see Ratan Tata, or even the Tatas, emerging from the Cyrus Mistry affair without serious dents to their credibility. In his five-page letter to the Tata Sons board, Mistry has levelled many allegations, including poor business judgment on foreign acquisitions, and fraud in some cases. But the part that will do the most damage to Ratan Tata personally is where Mistry debunks the Nano car project, and casts doubts about the viability of the group’s investments in AirAsia and Air Vistara, the last being a full service airline...

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