Tatas evaluating legal options against Cyrus Mistry: Full text of Tata Sons' statement

Tata Sons also refuted Mistry's allegations of wrongdoing in the affairs of Air Asia India by R Venkataramanan, a trustee of Tata Trusts.

FP Staff July 06, 2017 07:27:28 IST
Tatas evaluating legal options against Cyrus Mistry: Full text of Tata Sons' statement

Tata Sons, promoter of the major operating Tata companies, on Wednesday said it is continuing to evaluate legal options against ousted chairman Cyrus Mistry for actions that have "consistently harmed the reputation of the Tata group".

It also refuted Mistry's allegations of wrongdoing in the affairs of Air Asia India by R Venkataramanan, a trustee of Tata Trusts.

Here is the full text of the company statement:

Tatas evaluating legal options against Cyrus Mistry Full text of Tata Sons statement

Cyrus Mistry, ousted chairman, Tata Sons. Reuters

Tata Sons strongly rejects the statement from Cyrus P. Mistry which seeks to insinuate wrongdoing in the affairs of Air Asia India by R. Venkataramanan. On the contrary, Air Asia India with the support of Tata Sons, has taken definitive steps both in civil and criminal courts which have cleared the air in relation to the mischievous allegations made by SP Group companies in the NCLT proceedings.

Contrary to any allegations, Tata Sons denies any conduct which could be said to be oppressive or resulting in mismanagement. Tata Sons is of the view that the frivolous allegations levied by Cyrus P. Mistry and the SP Group are value destructive.

It is ironical that Cyrus P. Mistry continues to make statements that his actions are in the interest of the Tata group. On the contrary, his actions thus far have consistently harmed the reputation of the Tata group.

Tata Sons continues to evaluate its legal options in this regard. Tata Sons has the highest respect for the judiciary and has never resorted to “muzzle and interfere with legal proceedings”, as alleged by Cyrus P. Mistry.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Jet Airways buyout: Tata Sons concludes board meeting; says no offer to cash-strapped airline yet, talks only at 'preliminary' stage
Business

Jet Airways buyout: Tata Sons concludes board meeting; says no offer to cash-strapped airline yet, talks only at 'preliminary' stage

The Tatas, which already run two carriers-the full-service Vistara in a joint venture with Singapore Airlines and AirAsia India in a similar arrangement with Air Asia of Malaysia, have widely speculated to be planning a complete takeover of the Naresh Goyal-run airline with its international partner Singapore Airlines.

Cyrus Mistry misled to become chairman, retracted on promises: Tata Sons
Business

Cyrus Mistry misled to become chairman, retracted on promises: Tata Sons

Escalating the boardroom battle at India's largest conglomerate, on Sunday Tata Sons charged Cyrus P Mistry of misleading to get selected as Chairman, retracting on his promises, concentrating powers and using free-hand given to him to weaken management structures.

Cyrus Mistry fires fresh salvo at Tata management ahead of NCLT verdict on 4 July; seeks accountability, information from board
Business

Cyrus Mistry fires fresh salvo at Tata management ahead of NCLT verdict on 4 July; seeks accountability, information from board

Ahead of the NCLT verdict on his petitions against the Tata Group later this week and the AGMs, ousted chairman Cyrus Mistry has fired a fresh salvo at the management