Not look­ing to trade any charges with Mistry: Tata

Hindustan Times (Gurugram) - - Htbusiness - Jayshree P Upad­hyay jayshree.pyasi@livemint.com

MUM­BAI: Tata Sons’ chair­man emer­i­tus Ratan Tata has told the Supreme Court that he is no longer will­ing to trade charges with his for­mer pro­tege Cyrus Mistry over the past record of the Tata Group, which he maintained is for ev­ery­one to see and judge.

“I say this with all the hu­mil­ity at my com­mand that if this case is an ap­praisal of my per­for­mance and what I did for Tata group dur­ing my ten­ure, then it is for oth­ers to de­cide. I would re­spect­fully bow out of such a de­bate. At this stage of my life, I would not seek to de­fend or seek en­dorse­ment of my per­for­mance,” Tata said in his lat­est af­fi­davit.

“Ques­tion­ing de­ci­sions of the past by look­ing at them through the lens of short-term re­turns and call­ing them “value de­stroy­ing”, Mr Cyrus Mistry for­gets that Tata lead­ers are not known to crit­i­cise the past, but to do some­thing mean­ing­ful for the fu­ture,” Tata said in the af­fi­davit, re­viewed by Mint. The Tata group and Shapoorji Pal­lonji group through its two in­vest­ment firms, are em­broiled in a pro­tracted le­gal bat­tle af­ter Mistry was sacked as chair­man of Tata Sons in Oc­to­ber 2016.

Mistry in­vest­ment firms filed a pe­ti­tion in De­cem­ber 2016 al­leg­ing op­pres­sion and mis­man­age­ment at Tata Sons. In De­cem­ber 2019, the NCLAT had ruled in favour of Mistry firms.

Since his sack­ing, Mistry has made sev­eral al­le­ga­tions against Tata Sons and Ratan Tata. He had also al­leged that the Tata Sons board meet­ing, which de­cided his dis­missal did not record the rea­son for his re­moval as the chair­man.

“He should know that Tata com­pa­nies fol­low cer­tain deco­rum and even most un­pleas­ant de­ci­sions are con­veyed in a dig­ni­fied man­ner be­cause such de­ci­sions are never per­sonal. The de­ci­sion to re­place him was no ex­cep­tion; in fact, it de­manded all the more care and sen­si­tiv­ity in how it is con­veyed and recorded. That is why he was ini­tially re­quested to step down on his own,” said Ratan Tata.

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