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2017-01-30 ArtNo.45916
◆‘Tata pushed group towards businesses he had invested in’
 【Mumbai】Ratan Tata, the former and current interim chairman of Tata Sons, pushed the Tata Group into businesses in which he had personal investments, Cyrus Mistry alleged in an affidavit filed with the National Company Law Tribunal (NCLT), a copy of which has been seen by The Hindu. For instance, Mr. Tata had pushed Tata Motors to pursue orders for taxi ventures with ride-hailing service Ola — a company in which he had made an investment in his personal capacity — instead of Ola’s competitor Uber, Mr. Mistry said in the affidavit filed in response to the NCLT’s seeking proof of charges against Mr. Tata and Tata Sons. ○No breach of confidentiality, says Cyrus Mistry  【Mumbai】Dismissing allegations of breaching confidentiality, Cyrus Mistry has told Tata Sons that he was required by law to submit information to the National Company Law Tribunal (NCLT) and the Deputy Commissioner of Income Tax (DCIT). In three separate letters written by Mistry’s legal counsel, the ousted Chairman of Tata Sons said that Tata Sons intimidating him into refusing to cooperate with the legal requirements. ○Who says Cyrus Mistry has fared badly?  【Mumbai】The financials of the Tata group indicate that the group companies transited from an expansion phase under Ratan Tata to one of consolidation under Mistry. The ouster of Cyrus Mistry as Executive Chairman of Tata Sons on October 24, 2016 and the mudslinging that ensued was uncharacteristic of both Tata Sons and Mistry. In an attempt to understand the performance of the Tata Group and the reasons that led to Mistry’s replacement, I have summarised below the performance of nine major, listed Tata companies and the unresolved queries the analysis and communiqués from the opposing sides raise. 【News source】 ‘Tata pushed group towards businesses he had invested in’ No breach of confidentiality, says Cyrus Mistry Cyrus Mistry hits back at Tatas’ demand for documents Who says Cyrus Mistry has fared badly? ○One world： The aim of SEAnews ◆Recruitment of Ad-SEAnews CanvassersYour Comments / UnsubscribeSEAnews MessengerSEAnewsFacebookSEAnewsGoogleSEAnews eBookstoreSEAnews eBookstore(GoogleJ)SEAnews world circulation |
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