Focus of Tata-Mistry dispute could shift to what each party thinks is fair valuation of the stake, with court filings pegging it at more than Rs 1.5 lakh crore.
Ratan Tata is personally leading the charge in the Supreme Court appeal against NCLAT order that directed the Tata group to rehire Cyrus Mistry as chairman.
The petition has sought a direction from the Supreme Court to set aside or quash the NCLAT findings, which held Ratan Tata's actions against Cyrus Mistry as ‘oppressive’.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
Tatas have a 150 year old reputation for integrity and ethical conduct. Honestly, it should not have come to this. Suppression of minority interests should not be added to the list of missteps. As microscopic shareholders of several Tata companies, our family too has felt the pain of value destruction caused by some poor commercial decisions. In the case of the Mistry family, the volumes would have been vastly greater. The valuation of the shares should be done by firms of global repute, hopefully more productive than the one retained to select Mr Ratan Tata’s successor.
Tatas have a 150 year old reputation for integrity and ethical conduct. Honestly, it should not have come to this. Suppression of minority interests should not be added to the list of missteps. As microscopic shareholders of several Tata companies, our family too has felt the pain of value destruction caused by some poor commercial decisions. In the case of the Mistry family, the volumes would have been vastly greater. The valuation of the shares should be done by firms of global repute, hopefully more productive than the one retained to select Mr Ratan Tata’s successor.