Mumbai: Tatas on Tuesday lashed out at Cyrus Mistry saying 'insinuations are being imagined' -- soon after the ousted group Chairman alleged that it was 'false and mischievous' to suggest that he acted on his own or without the knowledge of Ratan Tata on the Tata-Docomo matter.
“Insinuations are being imagined. The matter is sub-judice and we will not comment,” a Tata group spokesperson said.
Earlier in the day, a statement by Mistry's office asserted that “insinuations that Docomo issue was handled in a manner inconsistent with Tata culture and values are baseless”.
The suggestion that Ratan Tata and trustees would not have approved of the manner in which the litigation against Docomo was conducted was contrary to what transpired, it said.
All decisions on Tata-Docomo deal were taken with approval of Tata Sons Board and actions were consistent with every such collective decision, the statement added.
“Insinuations that the Docomo issue was handled under the watch of Mistry in a manner inconsistent with Tata culture and values are baseless. The suggestion that Ratan Tata and the trustees would not have approved of the manner in which the litigation was conducted is contrary to what transpired,” it said.
Tata Group is entangled in a legal tussle with Japanese firm, NTT DoCoMo. DoCoMo in November 2009 acquired 26.5 per cent stake in Tata Teleservices for about Rs 12,740 crore (at Rs 117 per share) with an understanding that in case it exits the venture within five years, it will be paid a minimum 50 per cent of the acquisition price.
