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Tata trustees Ratan Tata was “quite incisive” in his interference in Tata Sons’ businesses, while Noshir Soonawala never sought a reply to the various issues he raised by ousted Tata Sons Chairman Cyrus Mistry, according to an affidavit filed before the National Company Law Tribunal (NCLT).
The 800-page affidavit also gave the details of various e-mails exchanged between Tata and Soonawala on various aspects of Tata Sons’ management, said sources who were privy to the details of the affidavit.
The affidavit was filed on Thursday and details were not revealed.
Tata was incisive, beginning with polite requests that later turned into threats of legal action during the course of Mistry’s tenure as executive chairman of the company, said sources.
However, Soonawala never sought a reply to the various points he had raised in his e-mails and letters by stating they were written in his personal capacity and not as a trustee. This was done because of the “apprehension” that the trustees ought not to be running businesses and must not have access to business information of listed companies, one of the sources said. However, they declined to be identified as the matter is before the courts.
When contacted, Mistry’s office refused to comment.
On December 20, Mistry had moved the NCLT to protect Tata Sons from “oppression and mismanagement”, even though the tribunal did not provide any interim relief. It had directed Mistry to file a reply within a week.
Mistry was ousted as Tata Sons’ Chairman on October 24, with Ratan Tata taking over as the interim chairman. The filing of legal cases started the next day, with the Tata Group filing a caveat with the NCLT.
On Thursday, Tata Sons had served another legal notice on Mistry, asking him to return all confidential and sensitive information and documents in his possession “immediately”.
Meanwhile, legal eagles have started padding up to take sides in the long-drawn battle. Former Finance Minister P Chidambaram led the legal team for Tatas at the December 16 hearing in the Bombay High Court. The Tata Group has also engaged former Advocate General (Maharashtra) Ravi Kadam and Senior Counsel Aspi Chinoy.
The Mistry camp has lined up Bombay High Court advocate Janak Dwarkadas, lawyer Somasekhar Sundaresan and law firm Desai & Diwanji. Wadia is represented by senior advocate Abad Ponda in the criminal defamation suit.
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