Tata Was Briefed On TFL Issues: Pendse

Mumbai, Aug 20: | Updated: Aug 21 2002, 05:30am hrs
Its a sequence of allegations and counter-allegations that are cropping up over the murky Tata Finance (TFL) investments issue.

Countering Tata group chairman Rata Tatas statement on Tuesday, that he was not consulted by the former TFL managing director Dilip Pendse on investment decisions in the company,

Mr Pendse was immediate to register his surprise at the statement made by Mr Tata.

Mr Pendse told FE: Im surprised at Mr Tatas statement. I met him almost weekly from 1996 to 1999, and, thereafter, quite frequently to brief him and to seek his guidance and advise.

Soon after the VSNL AGM in Mumbai, Mr Tata told newspersons that he was not consulted by Ms Pendse on investment decisions made by the non-banking finance company (NBFC). Mr Tata added that he was not involved in TFL and its issues.

In his affidavit filed with the Mumbai High Court, Mr Pendse had alleged that Mr Tata was aware of all the investment decisions made by TFL, and that all investments of TFL were collective decisions endorsed by the entire board.

To this, Mr Tata claimed that the first time he was informed of the issue was when he got a call from Mr Pendse in Dubai in April 2001.

Reacting to Mr Tatas statement, however, Mr Pendse said: I was probably the only one to see him the maximum times, not only at his office but at his home as well.