Cyrus Mistry shot an email to Tata board members, protesting against his removal as chairman of Tata Sons, news channel NDTV reported on Wednesday. The contents of the mail, which have not been made public, reportedly accuses the board of not giving Cyrus a chance to defend himself. “The board has not covered itself with glory,” Mr Mistry reportedly wrote in the email, adding that the board “never gave me a chance to defend myself.”
WATCH VIDEO: Cyrus Mistry’s Career Timeline
Terming the move by the Tata Sons board as unprecedented, Mistry wrote that he was “shocked at the manner of his removal”. On Tuesday evening, the Tata group filed caveats against Mistry and his firm Cyrus Investment Pvt Ltd at various legal forums to prevent him from seeking an ex-parte order against his dismissal.
Ratan Tata took over as interim chairman to ensure that there was “stability and continuity”. He also said the process to find a successor would soon begin.
Tata also told group companies to act as leaders in their respective markets and enhance returns to shareholders. “The companies must focus on their market position vis-à-vis competition, and not compare themselves to their own past. The drive must be on leadership rather than to follow,” he said, addressing managing directors, CEOs and senior leaders of Tata companies. The Tatas have not made any changes in the top rung of the group after Mistry’s ouster.
For all the latest India News, download Indian Express App nowFirst Published on: October 26, 2016 10:40 am