Cyrus Mistry rubbishes rumours about suing Tatas for his ouster

October 25, 2016 13:40

Amid all the frenzy surrounding his ouster as Tata Sons' chairman, Cyrus Mistry today issued a press statement.

The statement reads, "Events of the past 24 hours obviously involve an element of sensitivity if not surprise. They need time for being assessed. As and when a public statement becomes necessary, it would be made."

"Neither the SP Group nor Mr Cyrus Mistry has made any statement yet. While the circumstances are being studied, there is no basis to media speculation about litigation at this stage."

Tata Group, meanwhile, has played safe and filed caveat in multiple law forums to avoid any ex-parte order against the group that may arise from this ouster.

Interestingly, this statement negates earlier reports that Mistry is likely to move the Bombay high court this week challenging his dismissal.

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