The Tata Sons today hit out at its former Chairman Cyrus Mistry for making unsubstantiated claims and malicious allegations on the company and stated that he was fully empowered to lead the group and its companies but had overwhelmingly lost the confidence of board members. <br/><br/>Tatas said in a statement issued to public today that Misty's confidential letter to its board members was made public in an unseemly and undignified manner.<br/><br/>The company also rubbished Mistry's claims that he was made a 'lame duck' Chairman. It said that the company board gives its Chairman complete autonomy to manage opportunities and challenges. However, the tenure of the Mr. Mistry was marked by repeated departures from the culture and ethos of the group.<br/><br/>Also reacting strongly to several allegations made by Mistry in his letter to the Board members, the company said that it is unforgivable that Mr. Mistry has attempted to besmirch the image of the group in the eyes of the employees.
News On AIR | October 27, 2016 7:04 PM
Cyrus Mistry fully empowered to lead, lost confidence of Board: Tata Sons