Hitting back at Tatas, ousted Chairman Cyrus Mistry on Tuesday rejected charges of not contributing anything to the group’s cash-cows Tata Consultancy Services (TCS) and Jaguar land Rover (JlR) and alleged that patriarch Ratan Tata once tried to sell the IT firm to IBM and his “ego” led to bad business decisions like Corus acquisition at double the original cost. Mistry also said that Tata’s contribution to the success of TCS and JlR is an ‘illusion’.
“It is important to set the record straight since insinuations and leaks are being made explicitly to create an illusion that Mistry was a ‘hands off’ chairman and TCS/JlR were on ‘auto-pilot’ during his leadership,” Mistry’s office said in a five-page letter on Tuesday.
Meanwhile, industrialist Nusli Wadia on Tuesday sent another defamation notice to Tata Sons and its directors seeking withdrawal of “allegations” against him in an EGM notice to shareholders of Tata Chemicals where he is an independent director.