Tata Sons releases statement a day after Cyrus Mistry's explosive email.  Tata Sons hits out at Cyrus Mistry for making "unsubstantiated claims and malicious allegations".


Highlights...


Tatas: Cyrus Mistry as executive chairman was fully empowered to lead.

-- Mistry lost board's confidence due to several factors.

-- The Tata Way is not to run away from problems or constantly complain.

-- Matter of regret that communication marked confidential to Tata board made public in an unseemly, undignified manner.

-- Allegations made by Mr Mistry unwarranted not based on facts. Tata Sons board gives its Chairman complete autonomy to manage opportunities and challenges.

-- However, the tenure of the former Chairman was marked by repeated departures from the culture and ethos of the group.


-- It is unforgivable that Mr Mistry has attempted to besmirch the image of the Group in the eyes of the employees. There is a multitude of records to show that the allegations made by Cyrus Mistry are unwarranted.

-- Mistry was fully empowered to lead and it's only after removal that allegations of being lame-duck chairman have been made.


Also read:Cyrus Mistry's letter to Tata group