 "Five counter allegations made by Tatas against Cyrus Mistry")
The Tata group has responded to allegations made by Cyrus Mistry in his letter on Wednesday. Here are five counter allegations and responses of the Tata group against Mistry
1) Mistry Deviated From Tata Culture: The Tatas have claimed that Mistry repeatedly deviated from the working culture and ethos of the group. The Tatas have also blamed Mistry for ignoring corporate governance while he was the chairman at the group. Tatas have said that these accusations against the company’s board of directors and its top executives are motivated. Mistry had alleged that several decisions were taken without his knowledge and he was just a lame duck chairman.
2) Mistry Can Never Be Forgiven: Tatas have responded by saying that it is below the dignity of their conglomerate to respond to Mistry’s allegations. Mistry has been accused of selectively putting out information in the public domain. The Tatas have said that all of the information put in the public domain is neither factual nor reflective of the true state of affairs at the Tata group of companies. The Tatas have further said that Mistry can never be forgiven for besmirching the image of the employees of the Tata group.
3) Mistry’s Role To Be Further Exposed: The Tatas have responded by saying Mistry’s allegations are unwarranted and that they would defend each one the decisions made by its board of directors. Tatas have said that they will make these disclosures before the public at an appropriate time. The Tatas have said that Mistry was party to various decisions that is now being criticized by him in the public domain.
4) Mistry Was Untrustworthy: The Tatas have alleged that there was a growing trust deficit between their board of directors and Mistry in his capacity as the chairman of the group. Tatas have said that Mistry had lost the confidence of the board of directors.
5) Mistry Failed To Address Concerns: The Tata group has alleged that the board of directors were extremely concerned about certain business decisions taken under Mistry. Despite getting these to the attention of Mistry, the former chairman of Tata Sons failed to address any of them.
