Bombay House, Tata headquarters in Mumbai (Photographer: Harsunit Pal/BloombergQuint) 

Tata Sons Says Mistry Has Done Precious Little To Build Tata Group’s Goodwill

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  • Hours after Cyrus Mistry resigned from the board of the six listed Tata group companies and conveyed his statement through a video address, Tata Sons responded saying Mistry’s resignation is a deliberate strategy on his part, knowing fully well that the majority shareholders were not in support of his actions.

    Read: Cyrus Mistry Resigns From All Tata Group Companies, Hints Moving Court

    “Mistry continues to make baseless, unsubstantiated and malicious allegations using selective disclosures against the group,” Tata Sons said in a statement, adding that an adequate response will be given to the charges made by Mistry in his video statement.

    Taking strong objection to Mistry’s claims of trying to uphold the ideals laid down by the founder of the Tata Group, Jamsetji Tata, Tata Sons said it “strongly resents” his claims, as he and family “has done precious little to build the goodwill of the Tata Group.”

    Here is a the full text of the statement.