Tata Capital could take a hit of Rs 500-800 cr in 3 years: Cyrus Mistry

Provisioning coverage would increase substantially, Mistry said in his annexures to NCLT petition

Cyrus Mistry, former chairman of Tata Sons, had flagged concerns over Tata Capital, the unlisted financial services firm of the Tata group, saying it would have to take a hit of up to Rs 800 crore over the next three years. In his filings with the National Company Law Tribunal (NCLT), Mistry revealed the challenges facing the group's financial services business, an area identified as one of the four clusters that the group would focus on after he took over as group chairman in 2012.

In the annexures to his petition filed with the NCLT, Mistry said Tata Capital faced