Cyrus Mistry who called himself a ‘Lame duck chairman’ seems to be living upto his new name by giving lame excuses and most of his allegations are untrue but made out of frustration. He should acknowledge the fact that the Tata groups health deteriorated under his leadership and if Rs.1.18 lakh crore which he believes will have to be written-off from the books, he is equally to be blamed for this sorry state of governance where he was steering the group.
The five page allegation should have been made before he was sacked and not when his own non-performance is being questioned by all stakeholders including the board of Tata Sons which is the investment arm of the Tata group. Washing dirty linen in public would only destroy shareholder wealth and both Mr Ratan Tata and Cyrus Mistry should show maturity by burying their differences in private and not let their ‘Public Limited’ companies come under the hammer of scrutiny!
(The views expressed by the author in the article are his/her own.)