Cyrus Mistry says he was powerless as Tata chairman

0
75

MUMBAI: Cyrus Mistry said he was shackled as Tata Sons chairman, leaving him powerless to reverse blunders of the past and struggling to prevent Tata Group from sliding into an even deeper morass. Mistry said he was forced to keep the Nano project going, pushed into investing in two aviation businesses despite the group’s huge debt and even told to ignore fraud to the tune of Rs 22 crore.

Mistry detailed these issues in an email, parts of which ET reported on Wednesday, which was sent to Tata Sons and Tata Trusts on the previous night following his sacking on Monday.

There was no response from the Tata Group on the points raised by Mistry, who said he had been reduced to a “lame duck” chairman. Mistry also was unavailable for further comment.