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Tata Sons rejects Mistry's charge on trustee Venkataramanan

Tata Sons rejects Mistry's charge on trustee Venkataramanan

India Blooms News Service | | 05 Jul 2017, 09:16 pm
Mumbai, July 5 (IBNS): Tata Sons on Wednesday "strongly" rejected the statement from ousted chairman of the group, Cyrus P. Mistry, which alleged that trustee of Tata Trusts R Venkataramanan was involved in wrongdoings at Air Asia India. 

"Tata Sons strongly rejects the statement from Mr. Cyrus P. Mistry which seeks to insinuate wrongdoing in the affairs of Air Asia India by Mr. R. Venkataramanan," s atatement issued from the group said.

"On the contrary, Air Asia India with the support of Tata Sons, has taken definitive steps both in civil and criminal courts which have cleared the air in relation to the mischievous allegations made by SP Group companies in the NCLT proceedings," it said.

Contrary to any allegations, Tata Sons has denied any conduct which could be said to be "oppressive or resulting in mismanagement."

"Tata Sons is of the view that the frivolous allegations levied by Mr. Cyrus P. Mistry and the SP Group are value destructive," the statement claimed.

The Group has in turn alleged that Mistry is constantly trying to impugn the reputation of the company.

"It is ironical that Mr. Cyrus P. Mistry continues to make statements that his actions are in the interest of the Tata group. On the contrary, his actions thus far have consistently harmed the reputation of the Tata group," Tata Sons statement said.

"Tata Sons continues to evaluate its legal options in this regard. Tata Sons has the highest respect for the judiciary and has never resorted to “muzzle and interfere with legal proceedings”, as alleged by Mr. Cyrus P. Mistry," it added.


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