The family members of Dilip Pendse, former Tata Finance managing director who have been named as respondents in the Rs 424.50 crore civil suit filed by Tata Finance at Bombay High Court, will file their affidavits next week.
The Tatas had filed a civil suit claiming damages of Rs 424.50 crore describing Pendse's decision for investing huge money in Niskalp, the former TFL subsidiary, as unauthorised and illegal. The suit sought to restrain Pendse and others from disposing of, selling, creating charge and/or encumbering immovable properties.
Pendse had already filed his affidavit in the Mumbai High Court last week, the contents of which created a ruckus since it added a new dimension to the Tata Finance fiasco by stating that Ratan Tata, chairman, Tata Industries and N A Soonawala, former financial advisor to the Tata group and a director of Tata Industries, were aware of all investments decisions by the company.
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In his affidavit filed on August 16 at the Bombay High Court in response to the civil suit filed by Tata Finance, Pendse said all investment decisions taken by the company were collective decisions, endorsed by the entire board.
The original suit filed by the Tatas had also sought to restrain Pendse from operating his bank account and disclose on affidavit all bank accounts maintained by him jointly or singly in India and abroad and also all immovable properties and shares/securities listed or unlisted owned /held by him jointly and/or severally.