Wadia group chairman Nusli Wadia has sent a defamatory notice against the Tata group. Wadia had been served with ouster notice by the Tata Sons, for allegedly backing former chairman of the group, Cyrus Mistry.
Nusli Wadia has served as the independent director on the board of the Tata Chemicals, Tata Steel and Tata Motors for over a decade.
Wadia has termed the allegations made by the Tata Sons to the board as “false, defamatory and libelous” and has sought the withdrawal of the notice.
“Despite purportedly being an independent director on the boards of certain Tata group of companies including in Tata Steel, Wadia has been conducting himself as an interested party. In our opinion, Wadia has been conducting himself as an interested party in a manner that is designed to cause harm to the Tata group,” a notice by Tata Steel said.
“Wadia has not been conducting himself independently and instead has been galvanising independent directors and acting prejudicially. Wadia’s action may put the company in grave jeopardy and impact the overall morale of the workers, employees and management who have joined a Tata company,” Tata Steel had added.
The Wadia group chairman said that the special notice to remove him as the independent director were intended to damage his image and demanded for a withdrawal of the charges made by the Tata Sons’ board, against him.
With PTI Inputs