MISTRY REFUTES, SAYS TATA’S CONDUCT ERODES BRAND

Refuting allegations that he misled the selection committee set up in 2011 to find new Tata Sons Chairman, Cyrus Mistry (pictured) on Sunday hit out at Ratan Tata saying his predecessor’s “conduct has eroded the Tata brand and values materially”.

On a series of allegations leveled against him by Tata Sons in a letter to stakeholders of Tata firms, Mistry said, “Repeating a lie a thousand times and hoping it becomes a truth seems to be Mr Ratan Tata’s last-ditch effort to overcome a monumental disaster his actions have unleashed.”

The press statement from Tata Sons under Ratan Tata contains a “regurgitation of fake innuendo that Mr Tata has resorted to through unnamed and named spokesmen in recent weeks”, Mistry’s office said in a statement.

Denying the above allegations, the statement said, “On the contrary, if Tata Sons had any point at all to make, it would have complied with law to form a Committee now to logically present charges against Mr Mistry. Armed with nothing better than the limp nature of contents of Sunday’s statement, it was obviously not an option for Mr Tata.” Lashing out at the interim chairman of Tata Sons, it said: “Mr Ratan Tata’s conduct has eroded the Tata Brand and values materially... Far from hurting the Tata Sons businesses intentionally, Mr Mistry is saving the Tata Group from the whimsical ineptitude of Mr Ratan Tata.”

The statement further said that the Tata Trusts have done great work in the past. “However some of the recent actions by Mr Ratan Tata and his coterie that now runs the Trusts have raised great concern on the ethics that surround decision-making.”

On the allegations of misleading the selection committee, Mistry’s office said: “Unsurprisingly, Mr Ratan Tata’s close friend Lord Kumar Bhattacharya, the constant feature of the Selection Committee, then and now, only six months ago spoke positively of Mr Mistry’s performance.”