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Tata-Mistry row intensifies

Mon 14 Nov 2016, 10:31:58
The Tata-Mistry feud flared up yesterday, with the ousted chairman Cyrus Mistry rebutting allegations of "drifting away" Tata companies during his tenure.He also hit back at attempts to question integrity of independent directors who backed him, prompting the USD 102-billion group's holding firm Tata Sons to assert it will do "whatever is required" to deal with the situation.
Terming the Tata Sons' contention that group companies were "drifting away" under him as "furthest from truth", Mistry hit out first at Tata Sons calling its criticism of independent directors, revered names in India Inc, as "truly unfortunate".
This led the salt-to-software conglomerate to assert that it will do "whatever is required to deal with the situation", hinting at a no-holds-barred battle in the days ahead. A day ahead of the crucial board meet of Tata Motors, the group also said it is "crucially important" for the boards, including the independent directors, to "consider their views and positions ensure that the future of Tata companies is protected, taking into consideration the interest of all stakeholders".

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