Tata Sons is yet to state what necessitated the replacement of Mr. Mistry on October 24 without any notice or an opportunity to defend himself.
The statement said that he had no intention of giving up any attempt to revive the value of his companies
It also mentions on the conflict of interest between the Shapoorji Palonji group that were not addressed. S&P owns 18.4%of Tata Sons.
The impact of this move could be even more severe in the hinterlands and for daily-wage labourers in Kerala.
The statement sent on Tuesday hits back at Cyrus Mistry’s allegations that he was not given 'autonomy' during his 4 year stint as chairman of Tata Sons.
Special buses will be plied to pick and drop employees from key locations and car pools are being planned so that vehicular movement is reduced
Lyf was rolled out this year. Mukesh Ambani opened 4G services called Reliance Jio have free simcards along with Lyf phones and preloaded Jio apps.
Despite the unceremonious and un-Tata like end, I have nothing negative to say about the Tata group. It was not the fault of the 670,000 Tata people, he says.
More than half the board members of the seven major group companies are independent directors and Tata Sons is majority shareholder in only one of them.
“I will also not stoop to the level of the unidentified "person" "close to the former chairman", says Ronen Sen, independent director, Tata Sons.
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