Mumbai: Nusli Wadia, an independent director on the boards of three Tata group companies, has filed a Rs3,000-crore defamation suit against Ratan Tata and the board of directors of Tata Sons Ltd, according to people familiar with the matter.
Earlier, in two letters written to Tata Sons, Wadia said the reasons offered by the holding to seek his expulsion were “false, defamatory, baseless and libellous”, pointing out that the allegations have been made with an intent to harm his reputation. Tata Sons has said that he acted in concert with Cyrus Mistry, the ousted chairman of the holding company, and some of his actions were harmful to the group.
In his missive, he called upon the company to prove and substantiate the charges levelled against him with documentary evidence. He warned that should Tata Sons fail to withdraw the notice in the next two days, he will initiate criminal and civil proceedings.
Tata Sons is seeking to remove him from the board of Tata Motors Ltd, Tata Steel Ltd and Tata Chemicals Ltd.
Separately, four minority shareholders have filed a suit in the Bombay high co