Within days of Tata Sons seeking the removal of Nusli Wadia as independent director by the group holding company, the Wadia group chairman today responded by terming the allegations made against him as false.
Within days of Tata Sons seeking the removal of Nusli Wadia as independent director by the group holding company, the Wadia group chairman today responded by terming the allegations made against him as false, and also filed a defamatory notice against the Tata group.
Nusli Wadia claimed that the allegations made by the group board were based on personal vendetta, and were intended to harm his image. The Wadia group chairman said that the special notice to remove him as the independent director had ‘irreparably damaged’ his image and demanded for a withdrawal of the charges made by the Tata Sons’ board, against him.
Sources close to Tata sons confirms that yes they have received the notice and will respond appropriately
— ANI (@ANI_news) November 21, 2016
A Tata Sons source, in a statement to CNBC TV18, stated that the ‘true state of affairs is known to everybody and claimed that the defamation notice by Nusli Wadia is just another attempt to raise a propaganda against the Tata Sons group’s new chairman Ratan Tata. However, the Tata Sons had reportedly said that they will appropriately respond to the defamation notice filed by the Wadia Group chairman.
Being the indipendent director on the board of the Tata Chemicals, Tata Steel and Tata Motors for over a decade, Wadia had been served with the ouster notice by the Tata Sons, for allegedly backing former chairman of the group, Cyrus Mistry. Earlier, on October 24, the Tata Sons group had replaced Cyrus Mistry as the chairman of the group, replacing him with former chairman Ratan Tata.