Mumbai, Jul 5
Reacting sharply to the recent statement by ousted chairman Cyrus Mistry which seeks to insinuate alleged wrongdoing in the affairs of Air Asia India by R Venkataramanan, the managing trustee of the Tata Trust, Tata Sons today strongly rejected the charge and called the allegation of Mr Mistry and
the SP Group as ‘frivolous’ and ‘value destructive’.
On the contrary, Air Asia India, with the support of Tata Sons, has taken definitive steps both in civil and criminal courts, which have cleared the air in relation to the mischievous allegations made by the Shapoorji Pallonji Group companies in the National Company Law Tribunal (NCLT) proceedings.
A statement by Tata Sons said that contrary to any allegations, Tata Sons denied any conduct which could be said to be oppressive or resulting in mismanagement. “Tata Sons is of the view that the frivolous allegations levelled by Cyrus P Mistry and the SP Group are value destructive,” it said.
“It is ironical that Mr Mistry continues to make statements that his actions are in the interest of the Tata
Group. On the contrary, his actions thus far have consistently harmed the reputation of the Tata Group. Tata Sons continues to evaluate its legal options in this regard. Tata Sons has the highest respect for the judiciary and has never resorted to ‘muzzle’ and interfere with legal proceedings, as alleged by Mr Mistry,” the release added.