Tata Sons Chairman N Chandrasekaran on Wednesday asked all group employees to stay focussed on their businesses and welfare of stakeholders in wake of the NCLAT order that raised issue of his appointment as Executive Chairman of the company. In a message to the employees of the group, Chandrasekaran said Wednesday's "NCLAT ruling, which apart from other things, raises issues on my appointment as Executive Chairman of Tata Sons".
He further said, "Tata Sons firmly believes in the strength of our case and will pursue the appropriate legal recourse".Going forward, he further said, "I assure you that we have set ourselves on a course that will make the Tata Group stronger and more vibrant than it has ever been before. I urge all employees to stay focussed on their businesses and the welfare of our stakeholders".
Chandrasekaran said ever since he was asked to take on the role and responsibilities of Executive Chairman in February 2017, "our efforts have been primarily focused on: restoring stability and moving decisively towards a healthier financial position; conducting our businesses with the highest ethical standards, which the group has been known for over 150 years".
He further said "honoring our commitments to all stakeholders and resolving outstanding issues; driving growth and transforming our businesses for the future" were also equally important issues.
"We will continue to work towards deepening the legacy of this unique institution," Chandrasekaran said.
The NCLAT on Wednesday ordered reinstatement of ousted Chairman Cyrus Mistry, while ruling appointment of Chandrasekaran as illegal.