1. Ratan Tata meets Arun Jaitley; declines to comment

Ratan Tata meets Arun Jaitley; declines to comment

Ratan Tata on Tuesday held talks with Finance Minister Arun Jaitley as bitter boardroom battle continues to rage following the ouster of Tata Sons Chairman Cyrus Mistry. Tata, who had earlier written a letter to  Prime Minister Narendra Modi informing the latter about changes in the group, met  Jaitley for over 30 minutes. Tata has […]

By: | New Delhi | Updated: November 15, 2016 4:29 PM
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Ratan Tata on Tuesday held talks with Finance Minister Arun Jaitley as bitter boardroom battle continues to rage following the ouster of Tata Sons Chairman Cyrus Mistry. Tata, who had earlier written a letter to  Prime Minister Narendra Modi informing the latter about changes in the group, met  Jaitley for over 30 minutes. Tata has reportedly sought meetings with PM Modi. However, 78-year-old businessman refused to comment on the discussion with Jaitley, who also heads the Corporate Affairs Minister. “I am very uncomfortable talking,” Tata said, after the 30-minute meeting.  The government has so far stayed away of commenting on Tata Chairman row calling it an internal affair of Tata Sons. Tata-Jaitley meeting comes amid escalation of feud between the Tata Group patriarch and his estranged successor.

In a curious turn of events, while independent directors of a host of Tata companies have come out in support of Mistry, Tata Sons has called for a shareholders’ meeting in five firms — Indian Hotels, Tata Steel, Tata Motors, Tata Chemicals and Tata Consultancy Services — seeking his removal from their boards.

Mistry, 48, was removed as chairman of Tata Sons in October with the holding company saying he had lost the confidence of the board due to several factors, and that trustees were increasingly concerned with the growing trust deficit.

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