Sunday, January 22, 2017

Tata's ousted chairman says amazed through justification given for his dismissal



MUMBAI The struggle of phrases between Tata Sons and its ousted Chairman Cyrus Mistry continued overdue on Friday, with Mistry saying he became surprised with the justification put forward by way of the Indian salt-to-software conglomerate for his dismissal.
Mistry became sacked as chairman by using the board of Tata Sons on Monday and a scathing five-page letter he wrote to the board was leaked on Wednesday, turning a boardroom feud into a public row.
Mistry's letter covered allegations of corporate governance screw ups inside Tata Sons, and a series of other barbs aimed at circle of relatives patriarch Ratan Tata, who has lower back as meantime chairman of the corporation.
In a declaration on Thursday, Tata accused Mistry - whose own family own a minority stake in Tata Sons - of making "unsubstantiated claims and malicious allegations" in opposition to the conglomerate.
"it's miles unexpected that Mr. Tata has sought to justify Monday's behavior by means of making vague public statements which are contrary to his expertise and contrary to the data of the Tata institution," said Mistry in a reaction issued past due on Friday.

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