There’s been a definite move to damage my image, says Ratan Tata

Mumbai [India], Dec. 23 : Tata Sons interim chairman Ratan Tata on Friday said there has been a "definite move" to damage his personal reputation in the last two months, adding that the 'attacks' on him and the Tata Group are unsubstantiated and very painful.

"Over the last two months there has been a definite move to damage my personal reputation and the reputation of this great group - the Tata group.

And these days are very lonely because the newspapers are full of attacks, most of them unsubstantiated but nevertheless very painful," Tata said.

"The Group has been there for 150 years. It has been based on governance, fair play," he said. "I think the truth will prevail, whatever the process may be, however painful it may be. The truth will prevail and the systems in our country will govern," he said thanking shareholders for their support.

The remarks comes after business tycoon and former independent director on the board of three Tata companies Nusli Wadia filed a defamation case against Tata Sons and Ratan Tata hours after Tata Motors' shareholders voted in favour of his removal as the post.

Earlier on Monday, Cyrus P Mistry, who was ousted as the chairman of Tata Sons, said he has resigned from all the Tata group companies and vowed to adopt legal course to fight against "illegal coup staged by Ratan Tata".

In a three-page letter, Mistry said, "In order to be more effective, serve the objective of governance reform, and to regain lost ethical ground, I have decided to shift from the forum of the EGMs to a larger platform and also one where the rule of law and equity is upheld." On November 11, Tata Steel had stated that it had received a special notice from the promoter and principal shareholder to convene an Extraordinary General Meeting (EGM) to remove Cyrus Mistry and Nusli Wadia as its directors.

Two days after Ratan Tata replaced Cyrus Mistry as the interim chairman of Tata Sons', the later hit back at with an e-mail addressed to the board members, expressing shock at the "manner of his removal".

Mistry was appointed as the chairman in December 2012 and had been a director of the company since 2006.

Source: ANI