I am reduced to a lame-duck chairman: Mistry

mistryCyrus Mistry, the beleaguered former chairman of the Tata Group, has come down heavily on the system of Tata Sons and targeted Ratan Tata for being constantly interfering in the work.

Hitting back at the top leadership of the Group, Mistry said “I was hand-picked and entrusted even though I said no. Now, I am abruptly terminated. Certainly, this is not corporate way. I was shocked beyond words at the happenings at the board meeting of October 24, 2016. Apart from the invalidity and illegality of the business that was conducted, I have to say that the Board of Directors has not covered itself with glory”. Mr Tata has tried to reduce me to a non-entity, a lame-duck Chairman, he charged.

Mistry has alleged that forensic investigation revealed fraudulent transactions of Rs 22K crore involving non-existent entities in India and Singapore.image1

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