Tata Sons interim chairman Ratan Tata on Friday lamented that most attacks on him and the Tata Group are unsubstantiated and very painful. In a statement to the media on Friday, Tata said there is a definite move to damage his personal reputation over last two months. “I think the truth will prevail, whatever the process may be, however painful it may be,” said Tata.
His remarks comes a day after business tycoon and former independent director on the board of three Tata companies Nusli Wadia filed a defamation case against Tata Sons and Ratan Tata hours after Tata Motors’ shareholders voted in favour of his removal as the post. Significantly, ousted chairman Cyrus Mistry also alleged weak corporate governance at Tata Sons, calling it an amalgam of half-truths and unturths. Tata Sons, however, rebutted Mistry’s claims expressing “surprise” at the assertion.
In a statement released by Mistry’s office, it said, “It is mischievous on the part of any Tata Sons executive to suggest the lack of a strong governance framework at Tata Sons, more so someone who has been associated with the company as a director since 2006. One can only call these allegations as an amalgam of half-truths and untruths.”
To this, Tata Sons had replied: “In line with the Tata Group’s ethos, Tata Sons has always gone over and beyond the requirement of the law on matters of corporate governance. In fact, over the years we have reinforced this formal governance framework.”