Bharatiya Janata Party (BJP) leader Subramanian Swamy on Tuesday said that the Tata Group of companies will suffer because of the greed of Ratan Tata. Speaking ahead of a meeting of the shareholders of Tata Consultancy Services (TCS) who are to decide the fate of ousted group chairman Cyrus Mistry, Swamy said, “That is one of the small parts of the Tata, the main thing is the vote that comes from the general body from Tata Sons. The fact is that Mr Ratan Tata is already the voter and the director by illegal means; he is the nominee of the Tata Trust. Tata Trust is a charitable trust. It cannot play any role in the commercial activities of Tata Sons, and so far, nobody has paid attention. So, they have been carrying on.”
“Now, this all will be challenged in court. Tata’s will suffer because of the greed of the Mr Ratan Tata,” he added.
The Tata group led by Ratan Tata is expected to have a cakewalk and oust Mistry as Tata Sons holds a huge stake of over 73 per cent in TCS.
The voting pattern of mutual funds and institutions will give an indication of the level of support Mistry enjoys from shareholders in general, which in turn could set the tone for other Tata EGMs that are to follow in the coming days.
On November 10, Tata Sons, the holding company of the Tata group, sacked Cyrus Mistry as the chairman of Tata Consultancy Services (TCS), bringing in Ishaat Hussain as the new chairman of the software services firm.
Swamy had yesterday wrote to the Acting Director of the Central Bureau of Investigation (CBI) to probe into the role of former defence secretary Vijay Singh and Tata Sons interim chairman Ratan Tata in the Agusta Westland chopper scam.
Talking to ANI about his letter, Swamy stated that he has urged the CBI acting director to look into the matter of how Ratan Tata appointed Vijay Singh to the board of Tata Trusts, which in itself is illegal. “Ratan Tata went and deposed in Italy in the trial in the Agusta scam, so that itself makes it necessary to interrogate Mr Tata, because how is he involved? If he can obey a summons from Italy, he can obey one from India also,” Swamy said.
Further stating that all allegations made by sacked Tata chairman Cyrus Mistry so far have been proven true, the senior BJP leader added, “For instance the Air Asia scandal has been proved by records and Delhi High Court has taken notice of it. So, here also it is necessary for the CBI to summon both Vijay Singh who was defence Secretary and also Ratan Tata and interrogate them.”
Accusing Ratan Tata of conspiring with Singh, Swamy states in his letter that the ex defence secretary had engaged in corrupt practices in the Agusta Westland scam, which the CBI is currently probing.