Cyrus Mistry today moved in National Company Law Tribunal claiming that TataSons is not taking care of minority shareholder interest. Cyrus Mistry in surprising move resigned from all Tata group companies and promised to take the fight with TataSons on bigger platform. In order to save his face and credentials, he claimed that he stood against TataSons to ensure Shareholders interest but missed to point out that in the last 8 weeks, Tata group of Companies lost more than $11 Bn in market capitalisation.
As I pointed out in my earlier article that the real losers are none other than small investors and who will return their lost investment. As the crash of Tata group of Companies share happened due to Mr.Mistry unsubstantiated allegation against the icon of Global business icon Ratan Tata henceforth he should be made liable to compensate to small investor.
Now, coming to bigger point, he was Chairman of TataSons for good four years but never raised governance issue. It shows that he was good with such governance till the time he was enjoying the hospitality of TataSons.
During the appointment of Chairman, he committed that he will surrender all his interest attached with Shapoorji Pallonji group but he failed to do so. Being a Chairman, investor would like to see the integrity from the head but if head don't fulfill his commitment towards his appointment then how we can believe that he is telling the truth. In my point of view, I won't be surprised that he is playing all his card to maligning TataSons so that his loyal can buy shares and sell it at higher price. Again repeating that I don't have evidence but NCLT as well as Sebi should ask him to prove.
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