Former Tata group chief Cyrus Mistry today hit back at Tata Trusts' R Venkataramanan for dragging his name in the AirAsia India case, saying it was a "ridiculous attempt" to question the probe agency CBI's independence and to cloak his own "alleged misadventures" at the airline.
Mistry, who was ousted from Tata Group after an acrimonious boardroom fight and is engaged in a long-running legal battle with Tatas since then, said the board of Tata Sons and the Tata Trustees should concern themselves over the decline in governance standards at the budget carrier.
He denied as "malicious" and "defamatory" the allegations levelled against him by Venkataramanan, who is AirAsia India's non-executive director and figures among those against whom the CBI has filed a case in the AirAsia India matter.
Venkataramanan had yesterday alleged that the "present accusations qua Air Asia India find their root in baseless allegations made by Cyrus P Mistry and the Shapoor Pallonji Group against Tata Trusts Trustees (me included) and Tata Sons in his 'revenge' legal actions."
The Tata Brand has always stood for the highest levels of ethics and governance, the former chairman said adding "It is therefore deeply disturbing that a few individuals with alleged questionable motives are today bringing disrepute to the Tata Brand."