New Delhi: Cyrus Mistry on Sunday unleashed a new hard-hitting reply at Tata Sons, saying that questioning the independence of directors at group firms was “truly unfortunate”.

“Country acknowledges these independent directors as stalwarts of India Inc… the suggestion that they can be swayed is absolutely astonishing,” he further added.

Mistry further added that Tata Sons has “unfortunately stooped” to a low level in their public statements with regard to independent directors. Contradicting the statements released by Tata Sons Mistry said that the allegation of group companies drifting away was “farthest from the truth”.

On October 24, Cyrus Mistry was ousted as the Chairman of Tata Sons.  Following this another setback was faced by one of the biggest conglomerates of the nation, when a non-executive director of Tata Chemicals Ltd, Bhaskar Bhat, resigned disagreeing with the proceedings.

Following the removal of Cyrus Mistry, Ishaat Hussain had appointed as interim chairman of Tata Consultancy Services. Ishaat Hussain is also the Chairman of Voltas Limited and Tata Sky Limited. He also enjoys being on the boards of Tata Industries, Tata Steel, Tata Teleservices and Titan Industries Limited. 

Cyrus Mistry had been appointed as the chairman of Tata Sons four years ago, in 2012.

First Published | 13 November 2016 7:46 PM
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